A Commuter Reimbursement Account with Paypro Benefits can be be a significant new employee benefit. Whether it’s parking or mass transit, a CRA can make getting to work more affordable for your employees and best of all, save YOU taxes at the same time.
With a CRA – or Commuter Reimbursement Account – your employees can pay for eligible mass transit, parking and van-pooling expenses with pre-tax dollars.
These plans work much the same as a Health FSA. Employees elect the amount to contribute to their Commuter FSA through pre-tax payroll deductions and then access those Commuter Reimbursement funds using manual reimbursements or better yet, the Paypro Benefits Convenience MasterCard®.
When employees use the Paypro Convenience MasterCard® to pay for qualified transportation costs at a merchant accepting MasterCard®, funds are automatically deducted from the pre-tax dollars in their Commuter Reimbursement Account. Employees can view their account online to keep informed of charges, contributions, and current balances for the remaining plan year.
With Paypro Benefits’ Convenience MasterCard®, you can have multiple FSA accounts on one card, for one simple charge.