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Commuter Benefits helps cover your commuting costs to and from select locations (Boston, Cambridge, D.C.). Whether you need to pay for public transportation or to park your car by the office or at a train station, the Company will help cover the costs. Visit the HSA Bank Resource Center for additional information and eligible expenses.
Every month, you are eligible to receive $340 for the Parking Benefit and $340 for the Commuter Benefit. You may enroll in both, one, or neither of these programs. Any unused balance will carry over month-to-month.
Reminder: We’re transitioning from MyChoice Accounts to HSA Bank. View the transition timeline and steps you may need to take here.
Save your receipts! If you pay for parking costs out of pocket, you’ll need a receipt to be reimbursed for the expense. You must submit any reimbursement requests through the HSA Bank Resource Center.
Employees in the Seaport office are eligible for subsidized Commuter Benefits. This benefit provides eligible employees with a subsidy up to the pre-tax IRS maximum for Parking and/or Transit each month. Seaport employees are not eligible for post-tax deductions. Active enrollment is required to receive the subsidy, which will be deposited into your account on the first paycheck of each month. If you wish to stop receiving your subsidy, you can change your goal amount to $0. This adjustment will allow you to maintain access to your funds while no longer receiving future subsidies. NOTE: Do not “waive” coverage, as this will terminate the benefit and you will not be able to use any remaining funds. You can change your election at any time throughout the plan year. Unused funds will roll over from one month to the next, but any remaining balance will not carry over into the next year.
You cannot deposit more money into your Parking and Transit accounts than the amount above; you will only be allowed the subsidy you receive each month from the Company.
Employees working in the Cambridge office are eligible for subsidized Commuter Benefits. This benefit provides eligible employees with a subsidy up to the pre-tax IRS maximum for Parking and/or Transit each month. Any amount elected beyond the IRS maximum will be deducted from your paycheck as a post-tax deduction. To receive the subsidy, you must actively enroll in Commuter Benefits. Once enrolled, your subsidy will be automatically deposited into your account with your first paycheck of each month, and you won’t need to take any further action to renew the amount. If you wish to stop receiving your subsidy, you can change your goal amount to $0. This adjustment will allow you to maintain access to your funds while no longer receiving future subsidies.
Any unspent funds in your account on December 31 will be rolled over for use in the new year.
Your election amounts will be displayed at the end of the enrollment process on the summary screen. Remember, these amounts are fully covered by the Company.
Employees in D.C. are eligible for subsidized Commuter Benefits, receiving up to the IRS maximum (pre-tax) dollars monthly. Any contributions above this limit will be deducted as post-tax. Employees must actively enroll in Commuter Benefits to receive the subsidy. Once you are enrolled, your subsidy will automatically be deposited into your account on the first paycheck of each month. You do not need to take action each month to renew the amount.
Additionally, employees in D.C. may opt for a Clean Air Transportation Fringe Benefit known as a Parking Cashout. This benefit is required under the Transportation Benefits Equity Amendment Act and allows employees receiving subsidized parking benefits to exchange them for a cashout. If you choose to accept the Parking Cashout, you must waive 100% of your parking benefit. The payout will be calculated by subtracting your elected transit amount from the maximum transit subsidy amount. After making your choice, you will receive communication regarding when to expect your annual payout. Employees are only eligible to change their Transit/Commuter Benefit elections during their New Hire Enrollment or Annual Enrollment.
Any unspent funds in your account on December 31 will be rolled over for use in the new year.
Your election amounts will be displayed at the end of the enrollment process on the summary screen. Remember, these amounts are fully covered by the Company.
You must actively enroll through the HSA Bank Resource Center to begin receiving Commuter Benefits. You will begin receiving funds at the end of the month in which you enrolled. After that, your funds will then be deposited in the first paycheck of each month – you do not need to take any action.
You will pay for eligible parking and commuter costs with your HSA Bank debit card. You’ll receive an HSA Bank debit card after you enroll. Your debit card will be activated when you first use it; no additional action needed.
You’ll use this card for all HSA Bank accounts you enroll in, including a Health Savings Account, Health Care or Limited Purpose Health Care Flexible Spending Account (FSA), Dependent Care FSA, and Commuter Benefits. HSA Bank will coordinate deducting expenses from the correct account.
If you don’t receive your debit card or to request additional cards for yourself or your dependents, call the Client Assistance Center at 1-833-506-3611. Representatives are available 24 hours per day, seven days per week. If your card is lost or stolen, call this number for a replacement.
NOTE: If you cannot use your debit card for parking costs, you can submit receipts for reimbursement on the HSA Bank Resource Center. You must use your commuter debit card to pay for commuter costs. You CANNOT pay for commuting expenses out of pocket and submit them for reimbursement, per IRS regulations.
You can change your election to $0 if your travel situation changes. Remember, this can be changed on a month-by-month basis.