A Qualified Transportation Benefit allows you to direct a part of your pay, on a pretax basis, into a special account that you can use to reimburse yourself for certain work-related transportation expenses.
Your employer may offer a Parking Account, Transit Account or both. The IRS determines the monthly amount you may be reimbursed from each account. You will receive reimbursement based on your available balance at the time your claim is processed.
A transit account allows you to receive reimbursement for certain expenses incurred traveling to and from work. Eligible expenses include:
cost for mass transit, such as subway, train, or city bus.
van pool costs. A van is generally considered a commuter vehicle if it seats at least six adults (not including the driver), at least 80 percent of the vehicles mileage is used to transport employees to and from their place of employment, and in which at least half of the adult seating capacity is occupied by employees.
To receive reimbursement you must submit a paper claim form. Send it in as instructed on the form, and we will initiate direct deposit or send you a check for your eligible expenses.
How Does it Work?
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