Commuter benefits can be offered in a few different ways. As a pretax benefit, an employer-paid subsidy benefit, or as a combination of the two.
When the employer pays for the employee’s commuting costs as a subsidy, commuter benefits become a more powerful incentive to use transit which helps reduce traffic congestion, air pollution and improve the quality of life for everyone.
It also means greater savings which increases loyalty, boosts morale and gives employers the ability to attract and recruit talented employees.
However, delivering the tax-free funds efficiently can be hard work and vital to managing budgets and ensuring benefit dollars don’t go unused. It’s a real challenge for administrators who already have enough on their plate making sure their employees are well taken care of on all fronts.
The good news is, there’s a way to manage subsidized commuter benefit programs that will free up time and resources and deliver true peace of mind for administrators.
Our Commuter Check Auto Sweep Prepaid MasterCard® is our commuter benefit solution designed specifically for subsidized commuter benefit programs.
The card is funded automatically each month and limited to the available balance in the employees Commuter Benefit Transit or Parking account.
The card is restricted to IRS compliant commuter related transactions, and, any unused funds are automatically swept off the prepaid card monthly to make sure that benefit dollars you distribute do not go unused.
Plus, our card offers a unique top-off feature, allowing employees to load additional funds to cover any qualified transit and/or parking expenses that exceed the benefit subsidy.
With the Commuter Check Auto Sweep Prepaid Mastercard, enrollment becomes effortless, distribution of benefits is quicker and administrators can easily manage and monitor the program online.
Learn how you can begin offering this new commuter benefit solution.