Commuter Benefits help employees with a variety of work-related travel expenses, but what about transportation items that don’t fall under a commuter benefit plan? BRI has created Specialty Accounts for instances just like this.
Specialty Accounts are designed for employees by employers. BRI works with employers to create a benefits plan that is tailored specifically for the needs and passions of employees. The accounts are administered by BRI, and employees can use them based on the specifications of the organization’s needs, using both carded or non-carded programs.
Transportation Benefits Employees Want
In the past two years, it’s safe to say transportation and commuting has changed. Not only has the amount of time employees spend commuting changed, but how they are commuting has also changed. Providing employees with transportation assistance that works with them ensures happy employees that feel valued and appreciated. If the majority of a company’s employees have their own car and don’t use public transport, you could provide a monthly gas stipend up to a certain amount. Another option could include covering the cost of bicycle purchases in an effort to encourage employees to bike to work and keep up their wellness as well as lower their carbon footprint.
Perhaps the best way to know what employees want is by asking them. An employee survey or check-in is a great way to learn about employees and how to support them best.
HOW SPECIALTY ACCOUNTS WORK
Specialty Accounts are customizable and built for the needs of individual companies, regardless of size or industry. In three simple steps, employers can create their benefits plan.
- Employers begin working with their assigned representative to select expense categories from an eligible, predefined list. Working together, the employer can create a program that meets the company’s needs and helps boost the employee experience.
- The employer sets up the rules.
- Will funds roll over? Opt to allow employees to keep (rollover) unused funds at the end of the year, or not, depending on the company budget.
- How much (and how frequently) will funds be provided? Control how to distribute funds.
- Who can enroll? Set parameters to meet in order to participate in the benefit.
- Employers decide how to use the funds. There are two options to choose from: carded and non-carded programs. A carded program allows employees to pay for eligible plan expenses using their Beniversal® Prepaid Mastercard®. Participants can take advantage of convenient contactless payments by connecting their Beniversal Card to digital wallets like Apple Pay®, Google Pay®, and Samsung Pay®. BRI’s sophisticated auto-approval logic minimizes the need for paperwork.
The non-carded option is reimbursement only. Participants pay for expenses using their preferred payment method. Then, they reimburse themselves through BRIWEB, BRIMOBILE, or by mailing in a claim form with required documentation
THE FLEXIBILITY IN CREATING A CUSTOM TRANSPORTATION ACCOUNT
Whether employers choose to create a carded or non-carded program, they will be providing a custom benefit tailored for their employees.
There are many ways to include various transportation costs into a Specialty Account. Here are ideas from similar (non-carded) wellness accounts BRI has helped to bring to life:
TRANSPORTATION / BIKE COMMUTER
- Airfare for workplace travel
- Bike/scooter share program
- Carpooling reimbursement: up to an amount you determine
- Highway tolls
- Monthly gas stipend: up to an amount you determine
- Non-mechanical maintenance or equipment purchases that enable a greener commute, like biking
- Rental cars
- Ride-hailing services such as Lyft and general taxi services
Common ineligible expenses: items eligible under a Commuter Benefit Plan (workplace commuting expenses, including bus/train/subway/ferry passes, vanpooling, and work-related parking), vehicle purchase costs
With all of these options, and the opportunity for more, BRI is confident we can find employers a plan that works for both them and their employees.
As part of our ongoing Specialty Account series, we will continue to cover our most popular Specialty Accounts. We will discuss how each can be used and tailored for specific companies and industries. So, don’t forget to check back next week when we feature an in-depth look at Specialty Accounts: Personal Services and Pet Benefits.
Don’t want to wait? Check out our overview flyer or request a proposal below