Commuter Spending Account
- Mass transit fares, including tickets, passes, tokens, vouchers or other fares for riding buses, trains, para-transit or other mass transportation vehicles;
- Official vanpool fees;
- Parking fees (including parking meters) at or near your work place; and
- Parking fees at a location from which you commute to your work place via mass transportation or a carpool (ie. Park-and-ride lot)
The following list contains examples of expenses NOT eligible for the commuter spending account program:
- Highway or other roadway tolls;
- Traffic tickets;
- Mileage or other costs you incur in operating a vehicle;
- Payments to a fellow participant in a carpool or to a friend who drives you to work;
- Parking at your personal residence;
- Parking at your spouse’s place of work;
- Parking at a mall or similar location where you stop on your drive to or from your place of work:
- Costs that have been or will be paid by your employer, such as for a business trip.
All employers must implement reasonable reimbursement and certification procedures to ensure that an amount equal to the commuter reimbursement was incurred. In addition, the expenses must be substantiated within a reasonable period (180 days).
The Department of Labor recently released their inflation-adjusted penalties for ERISA, the Family Medical Leave Act, and the Genetic Information Nondiscrimination Act.
With healthcare premiums continuously increasing year over year, many employers are searching for options to help reduce their benefit costs.
The Employee Retirement Income Security Act (ERISA) oversees group benefit plans, and with the onset of the Affordable Care Act, the ERISA Summary Plan Description (SPD) requirements are in the spotlight.