New York, NY /PRNewswire/ - Commuter benefits company, Clarity Benefit Solutions, explains how urban-based companies can benefit from a commuter benefits program.
Employees who commute to cities should be informed that they can realize significant advantages by being enrolled in a commuter benefits program. These programs not only help employers by providing tax breaks to employees who use public transit to commute to and from work, vanpools, or parking garages near the workplace, employees also reap the benefits.
Employers should also know that the federal government allows companies to withhold the following pre-tax amounts: $265 per month for commuting and $265 per month for parking. This provides companies with significant savings, and the more employees that take advantage of these savings results in increased savings for employers. These savings can be set aside for enhancing employee benefits or implementing office improvements.
Additionally, urban-based companies who offer these programs maintain compliance. Many cities across the country are beginning to pass local ordinances that mandate businesses with a certain number of employees provide pre-tax commuter benefits.
Urban-based employers that offer commuter benefit programs can attract better talent. With unemployment at an all-new low, employers need to discover new and innovative ways to entice fresh talent to the workplace. Pre-tax commuter benefits may result in an employer standing out from the competition and thus able to draw in the latest and greatest employees.
These initiatives are also good for the environment. Employees who utilize commuter benefits are not driving—and therefore taking their cars off the roads—which reduces the carbon footprint. Making the decision to take public transportation results in a decrease in cars and bikes on the road on any given day. While this may not add up to tangible business savings, employers should revel in the fact that they are playing an active role in protecting the environment and complying with local ordinances. Plus, they are demonstrating they are invested in the community they are working in.
About Clarity Benefit Solutions: Clarity Benefit Solutions provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.
SOURCE: Clarity Benefit SolutionsCopyright 2019 PR Newswire. All Rights Reserved