Commuter benefits

Text

Save money on commuter expenses.

Text

Commuter benefits overview

Reduce your commuting expenses by taking advantage of commuter benefits. The IRS allows for certain work-related transit and parking expenses to be deducted from your paycheck on a pre-tax basis. Because you do not pay taxes on these expenses, you can save on commuter expenses.

For tax years beginning after January 1, 2021 the IRS allows up to $270 a month to be deducted pre-tax for commuter costs, and up to $270 a month pre-tax for parking costs. Any amount beyond that becomes a post-tax deduction.

Full Width Image Background

Text

Online ordering model

Use your commuter benefits to purchase qualified products and services.

Accordion Block v2

You decide how and where to spend your commuting dollars.

In 2021, the IRS allows you to set aside $270 pre-tax each month for transit expenses and $270 for parking expenses.

In 2022, the IRS allows you to set aside $280 pre-tax each month for transit expenses and $280 for parking expenses.

For ongoing commuter-related expenses, you can set up a recurring order that will automatically generate your transit order or pay your contracted parking vendor. If your commuting needs change, you can adjust or discontinue your order.

OR
- Public transit fares for buses, ferries and commuter rail
- Vanpool fares
- Parking expenses
- Bicycle commuting expenses, if offered
OR
- Simply go to optumfinancial.com and sign in as an account holder.
- Select the transit or parking services you want.
- Place your order.
- Set up an automatic order to make the same purchase every month.
- Receive your order at home by mail.
OR

Full Width Image Background

Text

Employer election model

Elect a commuter benefit to pay for qualified products and services.

Accordion Block v2

Want to save money on your commuting costs to and from work? It’s easier than you may think — here’s how you can do it:
- Enroll in commuter benefits through your employer.
- Choose how much you want to contribute — up to $270 maximum/month in 2021 and up to $280 maximum/month in 2022.
- Your employer deducts your chosen contribution amount from your paycheck before taxes. So, you don’t pay federal, state or payroll taxes on your contributions (although some states do tax these contributions).
- Use your Optum payment card to access your funds for qualified transportation costs.
- Save money as you lower your income taxes.
- Monthly, pre-tax contribution limits are set by the IRS and reviewed and adjusted occasionally with other cost of living adjustments.
OR
The Optum payment card maintains separate accounts or “purses” of pre- (and post-) tax money for parking and transit and directs the card transaction to the appropriate purse based on the Merchant Category Code (MCC) at the point of sale.

And if the participant already has an Optum payment card for other accounts, such as FSA or HSA, the commuter benefits account(s) can be stacked on the same card. The payment card cannot be used at alternative outlets, such as restaurants and grocery stores.

The amount of available funds on the payment card must cover the entire mass transit or parking expense or the transaction will be declined. The participant may split the cost by swiping their card for the exact available amount and then pay for the remaining amount with an alternate form of payment.

OR
When the participant uses the payment card for parking expenses, there’s no paying cash up front, no claim forms to fill out and no waiting for reimbursements. The payment card helps with Qualified Transportation Account (QTA) expenses such as parking expenses for any type of vehicle at or near the participant’s work location or at or near a location from which the participant commutes using mass transit.

OR
The payment card can be used for mass transit passes, tokens, or fare cards purchased at a valid transit fare terminal.

OR

Text

Self-directed mutual fund investment options are made available through the services of an independent investment advisor, or your plan sponsor. Discretionary advisory services are provided by Betterment LLC, an SEC-registered investment adviser, with associated brokerage transactions provided by Betterment Securities, Member FINRA/SIPC. For details and disclosures visit betterment.com. The Schwab Health Savings Brokerage Account is offered to certain account holders through Charles Schwab & Co., Inc., Member FINRA/SIPC. For details and disclosures, visit schwab.com. Brokerage services are offered to certain accountholders through TD Ameritrade, Inc., Member FDIC/SIPC and a subsidiary of The Charles Schwab Corporation. For details and disclosures, visit tdameritrade.com.

Orders are accepted to effect transactions in securities only as an accommodation to HSA owners. Optum Financial and its subsidiaries are not broker-dealer or registered investment advisors and do not provide investment advice or research concerning securities, make recommendations concerning securities, or otherwise solicit securities transactions.

Health savings accounts (HSAs) are individual accounts offered through Optum Bank^®, Member FDIC, or ConnectYourCare, LLC, an IRS-Designated Non-Bank Custodian of HSAs, each a subsidiary of Optum Financial, Inc. Neither Optum Financial, Inc. nor ConnectYourCare, LLC is a bank or an FDIC insured institution. HSAs are subject to eligibility requirements and restrictions on deposits and withdrawals to avoid IRS penalties. State taxes may apply. Fees may reduce earnings on account.

Flexible spending accounts (FSAs), dependent care assistance programs (DCAPs), health reimbursement arrangements (HRAs), Commuter and Parking Benefits, Tuition Assistance Plans, Adoption Assistance Plans, Surrogacy Assistance Plans, Wellness Benefits, and Lifestyle Accounts (collectively, “Employer-Sponsored Plans”) are administered on behalf of your plan sponsor by Optum Financial, Inc. or ConnectYourCare, LLC (collectively, "Optum Financial") and are subject to eligibility and restrictions. Employer-Sponsored Plans are not individually owned and amounts available under the Employer-Sponsored Plan are not FDIC insured. This communication is not intended as legal or tax advice. Federal and state laws and regulations are subject to change. Please contact a legal or tax professional for advice on eligibility, tax treatment, and restrictions. Please contact your plan administrator with questions about enrollment or plan restrictions.

Google Play and the Google Play logo are trademarks of Google LLC. Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc., registered in the U.S. and other countries.

The promotional code OPTFSA7, OPTHSA5 and OPTHRA7 cannot be applied to previously placed orders, and cannot be combined with other promotional codes. Additionally, the code cannot be used for prescription drugs or virtual care visits. Promotional codes are not transferable or redeemable for cash or credit. To apply a promotional code you must enter it prior to completing the order.

Free and expedited shipping offers do not apply to shipping outside of the contiguous United States. Additional shipping restrictions may apply.

The Optum Store is an affiliate of the UnitedHealth Group family of companies.

Your employer sponsored plan may exclude reimbursement for certain categories of items. Check your plan document and summary plan description or contact your benefits department for specific coverage details.

Top

Commuter benefits