Transportation and Parking
Make commuting more affordable
Save on payroll taxes and help your employees save money on work-related transportation expenses with a Transportation Reimbursement Account (TRA). Offered as part of your company's benefit package, this tax-advantaged account helps your employees reduce their taxable income by setting aside pre-tax dollars reserved for their commuting costs while reducing your organization's payroll tax liability. A true win-win.
What's a TRA?
A CareFirst TRA allows your employees to set aside a portion of their salary, pre- tax, to pay for certain transit, parking, and vanpool commuting expenses. By paying for these expenses with pre-tax dollars, your employees decrease their taxable income, pay less taxes, and in-turn allow your business to save on payroll taxes.
Benefits of a CareFirst TRA:
- Take advantage of one low monthly participant fee for both transit/vanpool and parking accounts
- Enjoy the ease and convenience of a single administrator
- Provide employees with one location to manage the TRA alongside their medical spending accounts
There are two plans with the TRA
- Includes bicycles for secure storage
- Includes multiple-occupancy vehicles such as cars, vans or trucks, or single- occupancy vehicles, such as motorcycles
- Must be near work or near a commuter site
Public Transportation and Vanpools
- Passes for metro transit systems
- Vanpooling can be employer, employee, private or publicly operated
- Van must be used for transporting people to places of employment
|Year||Qualified parking||Transit Passes and Vanpooling Combined|
|2022||not yet announced||not yet announced|
Transportation payment options:
- Pre-paid MasterCard®
- Commuter Check Voucher
- Smart Card
- Fare Media
- Parking Cash Reimbursement
- Parking Direct Pay
Employees enroll in the TRA benefit offering.
Your employees estimate their monthly expenses to determine how much to contribute to their TRA each month.
Your employees easily make their election by logging into their Online Member Service Center
Help. When and where you need it.
Visit www.carefirst.com/myaccount to manage your account anytime, any place.
If you want to talk to a real person, call our specially trained customer service team toll-free at Toll Free: 866-758-6119.
Convenience gets people where they need to go
CareFirst's TRA offers a variety of payment options to fit your employees' needs. Whether it's commuting by transit, vanpool or pay to park, CareFirst has your employees covered.
|Public transportation and vanpools||Parking|
|Commuter Check Vouchers||X||X|
|Parking Direct Pay||X|
|Parking Cash Reimbursements||X|
Commuter Check Vouchers: The most flexible way to pay for transit, vanpool and parking expenses, these vouchers can be used at the transit authority or parking facility of choice.
Pre-paid MasterCard®: Employees can swipe and go with this re-loadable debit card that can be used at designated transit agencies and parking facilities.
Fare Media: With fare media, your employees can stop waiting in line to buy transit passes or tickets and order passes directly to home.
Smart Cards: With smart cards, your employees can enjoy the convenience of loading pre-tax dollars to a transit smart card from the Online Member Service Center.
Parking Direct Pay: Let us send payments on your employees' behalf directly to a parking provider on a monthly basis.
Parking Cash Reimbursements: The ultimate flexible option if your employees park on an occasional basis, use multiple parking lots or use a provider who doesn't accept checks. your employees can send in receipts to receive reimbursement by check or direct deposit.
Fees and pricing
Annual employer fee
Monthly participant fee*
Ready to speak with someone about offering TRA to your employee group?
* PAPM includes both parking and transit/vanpool accounts or (855) 363-2583 for information about the ease of administration and benefits of working with CareFirst.