Commuter Benefits Administrator, Clarity Benefit Solutions, Offers Tips for Setting Up a Commuter Benefits Plan for a Small Business

NEW YORK, Sept. 5, 2018 /PRNewswire/ -- Commuter benefits administrator, Clarity Benefit Solutions, offers tips for setting up a commuter benefits plan for a small business.

Just because a business is small doesn't mean it can't offer its employees benefits beyond healthcare. Life insurance, 401(k) plans, and commuter benefits plans are viable options that can help attract and retain quality talent. Here are some tips to set up a commuter benefits program.

To set up a commuter benefits plan, a small business first needs to find a benefits provider that will provide the business with exactly what a commuter benefits plan entails, the advantages of offering such a plan, how the plan is administered, and the cost.

A small business owner may want to administer the plan him or herself by creating a company account for the different transit providers he or she wants to cover. Or, if the small business would rather not expend the extra time and effort to administer the plan, it can hire a third-party provider, such as Clarity, to administer the plan. This will not only help the small business keep administrative time to a minimum, it will ensure that the small business receives all the tax credits it is entitled to.

Commuter benefits plans are popular in metro areas, provide tax breaks for employers, and save employees money as well as lower their taxable income. They will cost a small business whatever the owner wants to pay for them, up to the following limits: parking, $255/month; transportation such as a car or vanpooling, $255/month; bicycling, $20/month; and transit passes $255/month.

Setting up a commuter benefits plan may prove challenging, since a majority of employees may not be sure how they work, or how advantageous it can prove to them. Emphasize to employees they can use pre-tax dollars to pay for their commuting expenses, which can result in up to 40 percent savings in some cases. Explain to them that typical commuter expenses include public transit to or from work, carpools or vanpools, and parking near the office or a nearby train station.

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.

Media Contact:
Calvin Clark
cclark@claritybenefitsolutions.com
732-428-8272

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SOURCE Clarity Benefit Solutions