Overview & Eligibility
Employees enrolled in a CRA can set aside pre-tax money to pay for qualified work-related transportation and parking expenses. Employees can change their monthly contribution any time, providing flexibility if their commuting needs change from month to month.
Employers determine if there are any eligibility requirements.
2022 Contribution Limit:
Parking – $280 per month
Transit – $280 per month
This is the maximum amount that can be contributed to an CRA each month per the IRS.
Use CRA Funds for UberPool, Lyft, & SpotHero in Select Cities
Employees can use their CRA pre-tax dollars on UberPool, Lyft, and SpotHero reservations. All three services accept the Ameriflex Debit Mastercard®, allowing easy payment with a CRA. Learn more about using a CRA for ridesharing and parking.
The Value for Employees
Employees can save up to 40% on qualifying expenses such as transit passes, commuter highway vehicles, parking expenses, and rideshare services such as uberPOOL and Lyft Shared.
Every dollar an employee contributes to a CRA lowers their taxable income. For example, if an employee earns $40,000 a year and contributes $270 per month to a CRA, their taxable income is lowered to $36,760.
Employees will receive an Ameriflex Debit Mastercard® linked to their CRA. Employees can use their card for eligible purchases everywhere Mastercard® is accepted. Account information can be securely accessed 24/7 online and through the mobile app.
The Value for Employers
Since contributions to CRAs are taken out pre-tax, no payroll taxes are due on the amounts employees contribute to the CRA.
Helping employees save money on their everyday commuting costs can aid in employee retention and recruitment.
Healthcare is complicated. The Ameriflex Client Relationship Team is eager to answer questions and provide assistance. Our 85+ Net Promoter Score (NPS) far exceeds the healthcare average.