How does my commuter benefit work?
Participating in this Plan will enable you to save taxes on the money you use to pay for work-related mass transit and parking. You may elect to reduce your taxable pay by the amount you expect to pay for parking and or transit. The amount you elect is withheld from your paycheck. Your payroll withholdings are credited to an account that is available to pay the cost of your eligible expenses. The maximum monthly contribution amounts permitted are subject to future cost-of-living increases announced by the IRS.
How much can I contribute on a pre-tax basis to my Transit Account each month?
Effective January 1, 2020, the maximum monthly transit election amount is $270. This amount remains unchanged for 2021.
2016 Transit Ruling
There are new transit rules that went into effect in some regions on January 1, 2016. To read about the new regulations and how they may impact your transit plan, click here. To view a list of qualified transit agencies, click here. Please note, due to frequent updates made by the IRS, this list may not be complete. Please check with your transit vendor if you are unsure whether the pre-tax transit account can be used.
How does the Benefits Card work for my transportation expenses?
Under the transit rule issued in 2016, employees must use the Benefits Card to pay for qualifying transportation expenses. The card works like a debit card but actually deducts your transit funds from your transit account. Since the transportation plans work on a pay-as-you-go basis, you cannot debit more funds than you currently have in your account. Therefore, you must make sure that enough of your payroll deposits are in your account to satisfy the transit expense you are paying for when you use your debit card. If you try to use your debit card and do not have sufficient funds available, your debit card will not work and you will have to pay for your transit with another method.
What is a qualified parking expense? How much can I contribute on a pre-tax basis to my Parking Account?
Qualified parking expenses means the cost of any parking provided to an employee on or near the business premises of the employer, or on or near a location from which the employee commutes to work through the use of a transit pass.
Effective January 1, 2020, the maximum monthly parking election amount is $270. This amount remains unchanged for 2021.
How can I submit a parking claim?
- Upload a claim using P&A Group’s mobile app. Download the app on your Apple or Android device today!
- QuikClaim on Mobile Website - Submit a claim directly from your smartphone. Log into your account on your mobile device.
- Fax or mail a claim form:
Claim forms are located inside your My Benefits Account.
Fax: Toll-free (877) 855-7105
Mail: P&A Group Flex Department, 17 Court St. Suite 500, Buffalo, NY 14202
You can also use your Benefits Card instead of submitting for reimbursement if it’s available in your area. The Parking Account works on as a pay-as-you go basis. Therefore, you can only use your Benefits Card up to the amount that has already been deducted from your paycheck pre-tax. In other words, you cannot use the Benefits Card for an expense that is greater than what has currently been payroll deducted.
What if I don’t get a receipt for my parking purchase?
You should always save receipts and submit them whenever possible. However, when it comes to parking expenses, we know that it isn’t always possible to obtain a receipt. P&A allows you to simply submit a non-receipt claim form if you don’t have receipts for your parking expenses. Complete and sign a non-receipt claim form, including the dates of service and the amounts(s) requested for reimbursement. Remember to sign your claim form or it will be automatically denied.
How frequently will I be reimbursed for my parking claims?
You will be reimbursed as frequently as you submit claims. A check will be made payable to you and sent directly to your home address. The minimum check amount is $25.00 (NOTE: This restriction does not apply at the end of the run-out period for submitting claims). To get reimbursements faster, sign up for direct deposit today by logging in to your My Benefits account.
What information do I need to submit a parking claim?
At P&A, we strive to make the claim reimbursement process as easy for our participants as possible. When it comes to parking reimbursements, our claims processors need to know two things – 1) dates of service and 2) the amount you are requesting for reimbursement. Since most employees pay for parking on a monthly basis, you can simply write down the month (i.e., January 2019 or 1/2019) that you are requesting reimbursement for and the amount(s) you want reimbursed. If you want to submit for a range of months, you can write the range of months as your dates of service (i.e., January 2019 – March 2019). As a rule, you cannot request for future months and expect to get reimbursed for services that have not yet happened.
Why wasn’t I reimbursed what I requested?
There could be two reasons why you did not get reimbursed the amount that you requested. The first possibility is that you asked for an amount that exceeded the IRS monthly maximum. Each year the IRS sets monthly maximums that dictate the amount that you are allowed to receive in reimbursement for parking expenses. If you requested an amount higher than what you are allowed to receive, your claim will be processed for the current IRS monthly maximum.
The second reason why a claim may not have paid out in full is that parking plans reimburse employees on a pay-as-you-go basis. The maximum amount allowed for reimbursement is equal to the current amount of pre-tax payroll deductions. For instance, let’s say you requested an amount that exceeded the amount of money to date from your payroll deductions. Your claim will partially pay out and then as more payroll deductions are applied to your account, the remainder of the outstanding claim will continue to pay out until it is satisfied.
What happens to my account if I terminate employment?
If you term employment, unused commuter and parking amounts are forfeited. However, you can submit parking claims for eligible expenses incurred while actively employed.