Can I use my commuter benefits card for Uber?
Any Uber rider is eligible to use pre-tax dollars on uberPOOL if their employer provides a commuter program. All you have to do is add your commuter benefits card as a payment method on your Uber account before you ride, and make sure to select it when you are requesting during your commute.
What is a commuter transit benefit?
A commuter benefits account is an employer-sponsored benefit program that allows you to set aside pre-tax funds in separate accounts to pay for qualified mass transit and parking expenses associated with your commute to work.
How does a transportation FSA work?
How does a transit FSA work? Utilizing a transit FSA is generally an optional benefit which employees can elect to participate in. When they do opt in, a specific estimated amount is deducted from each paycheck before taxes to be used to cover parking and transportation expenses related to work.
Can I use my commuter card for Lyft?
The WageWorks and Lyft Line partnership is now even better. You can use your WageWorks commuter benefits in 14 more Lyft Line cities to make your commute to work even easier. Lyft Line is an affordable way to commute. And by using your WageWorks Commuter Card to pay for Lyft Line rides, you can save up to 40%*.
Can I use commuter benefits for Lyft?
Commuter benefits funds can only be used to pay for Lyft Line or UberPOOL. They cannot be used for regular Lyft or Uber rides.
How much should I put in commuter benefits?
On average, employees save 30% or more when they choose to set aside money in a pre-tax commuter benefit account. Participants can elect up to $255 per month for pre-tax mass transit and up to $255 per month for pre-tax parking. An employee with a $125 monthly expense saves an estimated $450* annually.
What happens to commuter benefits when you quit?
If your employer has the Commuter Express benefit program and you have unused funds in your account, unused pre-tax funds will be forfeited to your employer before the next ordering deadline.
What should I spend my commuter benefits on?
Which eligible expenses can be covered by commuter benefits?
- Parking. Meters. Garages. Lots.
- Ridesharing. Lyft Shared. Uber Pool. Via.
- Bike maintenance and repairs.
Can you use FSA for transportation?
you can’t use your FSA debit card to pay for your transportation expenses. Instead, you have to submit a claim for reimbursement to your FSA administrator. Many expenses related to common modes of transportation—Uber, Lyft, planes, cars, ferries, taxis, rental cars, buses and more—can be FSA-eligible.
Are commuter benefits worth it?
On average, employees save $700 each year, or more when they set aside up to $280.00 a month to pay for transit commuting expenses. Below is an estimated tax savings for someone who uses commuter benefits for transit and parking expenses.