Page 15 - 2015-2016 Enrollment Guide
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Commuter Transportation and Parking Flexible
Spending Accounts
The Commuter Transit and Parking FSA allows you to pay for eligible
work-related transportation and parking costs on a pre-tax basis. You
can use your mass transit and parking FSA to pay for things such as the
following.
Daily or monthly parking expenses
Bus fare and light rail fares
Train and subway tickets
During your initial enrollment, you can elect to set aside a certain amount
of pre-tax salary to cover qualiied costs incurred in commuting to
work. You must designate an amount for mass transit expenses and a
separate amount for parking expenses. Separate reimbursement accounts
are maintained for each category and funds cannot be commingled or
transferred between accounts.
The 2015 monthly limit for Commuter Accounts is $250/month for
qualiied parking and $130/month for mass transit expenses. The transit
and parking beneit does not include a “use it or lose it” penalty, as is the
case with Healthcare FSAs and Dependent Care FSAs, with unused funds
rolling to the July 2016 plan year..
New Hire Benefits Guide 2015–2016
Commuter Transportation and Parking Flexible
Spending Accounts
The Commuter Transit and Parking FSA allows you to pay for eligible
work-related transportation and parking costs on a pre-tax basis. You
can use your mass transit and parking FSA to pay for things such as the
following.
Daily or monthly parking expenses
Bus fare and light rail fares
Train and subway tickets
During your initial enrollment, you can elect to set aside a certain amount
of pre-tax salary to cover qualiied costs incurred in commuting to
work. You must designate an amount for mass transit expenses and a
separate amount for parking expenses. Separate reimbursement accounts
are maintained for each category and funds cannot be commingled or
transferred between accounts.
The 2015 monthly limit for Commuter Accounts is $250/month for
qualiied parking and $130/month for mass transit expenses. The transit
and parking beneit does not include a “use it or lose it” penalty, as is the
case with Healthcare FSAs and Dependent Care FSAs, with unused funds
rolling to the July 2016 plan year..
New Hire Benefits Guide 2015–2016
