NY Commuter Benefits Administrator, Clarity Benefit Solutions, Discusses Three Trends in Commuter Benefits

NEW YORK, Nov. 27, 2017 /PRNewswire-iReach/ -- NY commuter benefits administrator, Clarity Benefit Solutions, discusses three trends in commuter benefits.

All across the country, the number of employers offering commuter benefit plans is on the rise, thanks to traffic congestion coupled with the rising cost of commuting. Commuter benefits allow employees as well as employers to use pre-tax dollars to pay for a number of commuting expenses, such as car- and van-pooling, transit passes, qualified parking, and reimbursement of up to $20 per month for bicycle commuting (not available with any other qualified transportation benefit). Here are three trends in commuter benefits.

  • The importance of pre-tax dollars. One of the most obvious benefits to offering a commuter benefits program is the tax-free component to employees. However, those employees that live and work in areas that don't have access to public transportation options, but have access to free parking, cannot realize these pre-tax benefits. Therefore, car- or van-pooling, flexible schedules, and working remotely are better options for helping employees manage their commuting costs in these situations. It's important to listen to—and address—employees' needs.
  • The growth of ride-sharing. The number of employees that use ride-sharing companies is on the rise—not only as a way to get to and from work, but also for the first and last mile of a commute after using mass transit. In some cases, ride-sharing companies have partnered with transportation administration vendors to offer these services so they can be paid with pre-tax monies.
  • The increase in cities that are mandating commuter benefits. A growing number of metropolitan cities are mandating that employers offer commuter benefits, such as San Francisco, New York City, and Washington, D.C. In cities where this is occurring, many local transit authorities are providing information and support to employers as they establish commuter benefits programs. Some employers are also reaching out to third-party administrators for assistance in setting up and administering these programs. This trend will continue as awareness about commuter benefits programs increases.

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.

Media Contact: Calvin Clark, Clarity Benefit Solutions, 732-428-8272, cclark@claritybenefitsolutions.com

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SOURCE Clarity Benefit Solutions



2017

Tags

Banking & Financial Services, Insurance, Human Resource & Workforce Management, Health Insurance



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