As the year comes to a close, employees and employers alike might be left wondering what to expect from commuting in 2021. Will the remote work trend continue? What will the effect be on mass transit systems and parking services, which have already seen major hits in metropolitan areas? Let’s review the biggest change COVID-19… Read More
2021 contribution limits out for FSA, commuter
The IRS released the 2021 contribution limits for Mass Transit, Parking, Medical FSA and Adoption Assistance in Revenue Procedure 2020-45. The limits are effective for plan years that begin on/or after January 1, 2021. There were no changes to contribution limits for the commuter accounts or medical flexible spending account. Details below. 2021 Contribution Limit:… Read More
Commuter Benefit Trends: What does “back to work” look like?
The daily commute has gotten quite the face-lift in 2020. At the peak of COVID-19 stay-at-home orders, the MTA Subway in New York reported ridership levels were down 93% compared to the same period in 2019. As of August 31, 2020, ridership for the subway remains down 68-75% and buses are down 19-41%. Meanwhile, the… Read More
Transit Benefit Guidance in Uncertain Times
While the last several months were fraught with uncertainty and changes, we also saw several clarifications for pre-tax benefits, including Qualified Transportation Fringe Benefits. What modified transit benefit guidance was released? The IRS released potential changes to a provision within the Tax Cuts and Jobs Act (TCJA). The provision under review is the piece of… Read More
Your 4-step back to work guide for commuting
People going back to work after COVID-19 are facing new challenges, including how to maintain social distancing protocols during notoriously busy commutes. Here are four ways employers can help create a safer commute that balances flexibility with safety. Help participants transfer from mass transit to parking benefits As employees begin to come back to work,… Read More
What will commuting after COVID-19 look like?
Many have started the process of commuting after COVID-19, leaving employees and employers alike wondering how the transition will unfold. During the change, certain trends have emerged including a focus on reducing contact with shared items. Minimize contact with shared public surfaces While the CDC has identified that surfaces pose less of a threat in… Read More
Your BRI notifications cheat sheet
It’s important to keep track of what’s happening with your accounts– that’s why we created BRI notifications. You Pick and Choose We’ve been perfecting our notification system since 2013, so you can trust its reliability. It even made it onto our list of the Top 25 Ways to Save with Pre-tax Benefits. How it works:… Read More
Do you need to make benefit changes because of COVID-19?
COVID-19 has caused upheaval in many ways. This includes employees’ work benefits, particularly pre-tax accounts. For employees with an HSA, Dependent Care FSA, and/or commuter plan, there may be the opportunity to make changes to their accounts. Here are the main updates employees should know about. UPDATE: See our blogs IRS releases new relief affecting… Read More
Commuter FAQs for those new to the workforce
It’s an exciting time in your life! You just graduated college and managed to land a job right in the heart of Boston, Massachusetts at what you consider your ‘dream’ company. On the first day of your new job, you meet with members of the HR team who begin to walk you though the benefits… Read More
Skip the wait– use your BRI account online
Your BRI online account can be used for more than checking your balance. (Although it’s great for that, too). You can also sign up for ways to get your reimbursements faster, skip calling in about your card, and get answers to FAQs. That’s just the tip of the iceberg. Here are the top five ways… Read More
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