What you need to know
You can contribute pre-tax money to a Commuter Reimbursement Account and save on parking and transit expenses. You’re allowed to contribute up to $340 per calendar month. Account funds are “use it or lose it” — they don’t roll over year to year.
All colleagues can contribute to a Commuter Reimbursement Account, available through Inspira Financial, to use pre-tax dollars to pay for their commute to work, unless they have a company vehicle or vehicle allowance. Also, a dependent’s commute expenses are not eligible for this program.
How it works
Commuter benefits help you pay for your commute to and from work using pre-tax dollars, which saves you money on your taxes each year. You can use commuter benefits for transit, rideshares, and qualified paid parking. Go to the Inspira Financial site to sign up, and Inspira Financial will provide a debit card you can use to pay for commuter expenses.
To learn more about the Commuter Reimbursement Account, review this quick reference guide.