How to use your Commuter Benefits

While there may not be a lot you can do to avoid the daily grind of getting to and from work, there is a way to help make your commute more affordable. Commuter Benefits allow you to set aside pre-tax dollars from your paycheck to pay for qualified commuting expenses, such as a monthly train pass and parking at the station. Because contributions are deducted from payroll on a pre-tax basis they are not subject to income tax withholding1, or payroll taxes such as Social Security and Medicare (FICA), so you can keep more of your hard-earned money in your pocket.

  • Transit accounts help you pay for public transportation expenses, such as bus, train, ferry, subway or vanpool, when travelling between your home and workplace.
  • Parking accounts help you pay for parking expenses at or near your workplace, or near whichever form of public transportation you use to get to work.

Paying for commuter expenses is easy and convenient

Simply swipe your Bank of America Health and Benefit Account Debit Card2 and the charges go against the appropriate health and benefit account based on your enrollment and the merchant code for each transaction. When you pay with your debit card, there’s no need for receipts or waiting around for reimbursements. While your debit card is the only form of payment you can use for transit expenses, you can pay for parking expenses either with your debit card or another source, and then submit a claim to reimburse yourself via the member website or MyHealth app.

How to submit parking expense claims

On the member website:

  • From the Home screen select “Reimburse Myself” and follow the on-screen instructions to complete the submission process.

Understanding the “use it or lose it” rules

Any unused funds roll over from month-to-month for as long as you remain with your current employer. If you are not spending your full contribution each month, you may want to reduce your contributions.

Keep more money in your pocket

Even if you don’t always look forward to your commute, you can look forward to using your Commuter Benefits to pay for transit and parking expenses. It’s easy and convenient to use – and you could potentially benefit from significant tax savings by the end of the year.

1 State and/or local income tax treatment of payroll contributions to a Commuter Benefit account may vary. Participants may wish to consult with a tax advisor regarding the state income tax treatment of such contributions.

2 This health and benefits debit card program is issued by Bank of America, N.A. Visa is a registered trademark of Visa International Service Association, and is used by the issuer pursuant to license from Visa U.S.A. Inc