NEW YORK, Nov. 5, 2018 /PRNewswire/ -- Clarity Benefit Solutions shares ways to keep employees informed about their commuterbenefits plan.
Commuter benefits plans encourage employees to use public transportation by offering them significant savings. However, employees may not realize how advantageous these plans can be, so it is up to employers to keep employees
First, employers should hold a meeting to explain how commuter benefits work. Explain that commuter benefits plans allow employees to use pre-tax dollars to pay for a variety of commuting expenses in the following ways: a pre-tax, employee-paid payroll deduction; a tax-free, employee-paid subsidy; or a combination of both methods. This could save employees as much as 40 percent on the cost of their commute since they don't have to pay income taxes on the money they set aside for commuting expenses.
Then, employers should share with employees that they can receive these funds in several different ways. The employer can purchase passes, vouchers, tokens, or fare cards and distribute them to the employees, or use a provider to carry out these tasks. Employees can also obtain debit cards and online accounts from their employers to utilize for parking and transit. Tell them that there is a multitude of expenses that qualify for commuter benefits: bus, train, ferry, trolley tickets and passes; parking expenses, garages, meters, and lots; vanpool fees; and bike maintenance and repair.
Continue to deliver commuter benefits information in many different formats: flyers, posters, emails, and social media will keep the information out in front of employees. Set up a user-friendly web portal so they can register with ease and manage their benefits seamlessly.
Employers should consider incentivizing employee participation in commuter benefits by rewarding them for enrolling. Gift certificates and additional PTO are a few ways to accomplish this. And, once employers start realizing savings, earmark some of the money toward office improvements or additional employee perks.
About Clarity Benefit Solutions: Clarity Benefit Solutions provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.
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SOURCE Clarity Benefit Solutions
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