May the Fourth be with you! Like Star Wars, pre-tax benefits have been around for a while. In fact, the first Star Wars film was released in 1977, mere months before the first pre-tax plan arose in the form of cafeteria plans. But that’s not where the similarities between Star Wars and benefits end. These… Read More
Category: Commuter Benefits
How does a decision support tool work?
Here’s a scary statistic for you: according to the International Foundation of Employee Benefit Plans, 80% of employers struggle to get employees to read benefits enrollment materials during Open Enrollment. Can you really blame the employees though? A lot of the time these materials are long, boring, and filled with a bunch of jargon they… Read More
Quick Reference Guide to Acronyms used in Benefits
If you are feeling like you need a special decoder ring to understand your benefits, you are not likely alone. But we have just what you need. We’ll break down common (and not so common) acronyms used in benefits. To make it (hopefully) a little easier, we will tackle it through four groups: Rules and… Read More
What will commuting in 2021 look like?
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
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