Overview
The Commuter Expense Reimbursement Account (CERA) program allows you to reduce your taxes on the money you spend on public transportation and work-related parking expenses. For purposes of CERA, eligible transportation expenses are defined as expenses incurred for transportation to and from work via bus, train/subway, or waterway/ferry. Work-related parking expenses are also eligible. Car pools and tolls are not considered eligible expenses.
Your contributions to CERA will be taken from your salary on a pre-tax basis, which reduces your taxable income and lowers your current-year taxes. IRS Monthly Maximum: $325 / Parking Expenses $325 / Transit (bus, train, subway, or ferry).
Enrollment is necessary to begin participation. You can enroll directly through the HealthEquity site. Your contributions are deducted on a pre-tax basis up to a permitted limit. You may choose to enroll for one month or multiple months. You may enroll or cancel your enrollment at any time throughout the year. Once you join CERA, annual enrollment is not required.
For enrollment information, visit HealthEquity.