Commuter Reimbursement Account (CRA)

Commuter Reimbursement Account
Save money on your work-related transit and parking expenses

Use the below information to determine if a Commuter Reimbursement Account (CRA) is right for you and how to best take advantage of a CRA account.

How It Works

A CRA is an account that allows you to set aside pre-tax money to pay for qualified work-related transportation and parking expenses. A CRA comes in different options: a transit account and a parking account. You can contribute up to $300 a month to a transit and/or parking account, and you can change your monthly contribution any time if your commuting needs ever change.

The Value & Perks

– Save On Eligible Expenses: Employees can save up to 40% on qualifying expenses such as transit passes, commuter highway vehicles, parking expenses, etc.

– Keep More Money: 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.

– Easy Spending and Account Management: 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.

Eligible CRA Expenses

The IRS determines what expenses are eligible under a CRA and funds can be spent on qualifying expenses such as:

– Transit passes for any pass, token, farecard, voucher, etc.

– Commuter highway vehicles

– Parking expenses, including reservations through SpotHero

– Rides through Lyft Shared

For a full list of eligible expenses, go to myameriflex.com/eligibleexpenses.