Why enroll in a Parking & Transit Account?
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A Parking & Transit Account allows you to use tax-free dollars to pay for monthly parking lot fees and mass transit programs (i.e. Bus Pass).
Unlike the Flexible Spending Account (FSA) plans, this program does not include a “use it or lose it penalty”. Any unused funds will carry forward to the next plan year in which you are an active participant.
You can use a Parking & Transit Account to pay for your share of expenses for commuting to and from work, reimbursable up to the monthly statutory or plan limit for:
To determine if you’re eligible for this benefit, please check with your employer or contact the ProService Hawaii Voluntary Benefits Team at 808-394-4175.
Per IRS tax rules, the following are not eligible to participate:
You can submit claims to National Benefit Services (NBS) in the following ways:
Any remaining balance at the end of the year will rollover to the next plan year.
Changes are allowed on a monthly basis and take effect on the first of the following month.
Your participation and salary deduction ends. You will no longer be able to incur expenses for reimbursement as of your termination date. You have 90 days from the date of termination to submit claims for expenses incurred prior to the termination date. Any balance left in the account after 90 days will be considered forfeit.