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Bicycle Commuting Reimbursement Program

Bicycle Commuting Reimbursement Program. Introduction. WageWorks is excited to announce that we are adding the Bicycle Reimbursement Benefit to our Commuter Benefits program!

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Bicycle Commuting Reimbursement Program

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  1. Bicycle Commuting Reimbursement Program

  2. Introduction • WageWorks is excited to announce that we are adding the Bicycle Reimbursement Benefit to our Commuter Benefits program! • The Bicycle Reimbursement Benefit enables employers to reimburse their employees up to $20 a month tax-free for the following expenses: • Bicycle Purchase • Bicycle Improvements • Bicycle Maintenance/Tune-Ups • Bicycle Storage

  3. Benefit Requirements • The Bicycle Benefit is a tax-free subsidy program paid by the employer. • It is important to note that this program does not allow an employee to take pre-tax deductions to fund the benefit as is allowed for transit, vanpool and parking expenses. • Employees can receive the Bicycle Benefit or another commuter benefit (such as transit, vanpool or parking) but not bothfor the same month. • The Bicycle Benefit must be implemented as part of the IRC Section 132 program.

  4. How It Works • Employee commutes to work by bike and incurs valid bicycle expense. • Employee submits a claim to WageWorks with receipt(s) that display date, product and/or service and cost. • Claims are processed/paid once a month via check. • Claims submitted by the 20th of the month will be paid by the 1st of the following month. • e.g. a claim submitted on 7/10 will be paid by 8/1 Note: If an employee has a transit, vanpool and/or parking election for the same benefit month, the claim will be denied.

  5. Basic Claims Rules • Only eligible Bicycle expenses for employees who have a qualified bicycle month and claims accompanied by a receipt will be paid. Requests without a receipt will be denied. • Only allow a reimbursement equal to the number of qualified Bicycle months multiplied by the employer’s monthly subsidy. • A qualified bicycle month includes a month in which: • The employee does not receive any other commuter benefit such as transit, vanpool or parking, during months in which they receive the bicycle benefit. • The employee commutes their workplace a “substantial” portion of travel between their residence and place of employment. WageWorks considers 20% to be the minimum amount to be considered “substantial”.

  6. Commuter / Select Benefit Page

  7. Commuter / Bicycle Benefit Page

  8. Eligible Expenses & Claim Form Eligible Expenses Claim Form

  9. Invoicing • Employers will be billed for claims and service fees after claims have been processed and paid. • Claims submitted by the 20th and paid by the 1st will be included on the next commuter invoice generated after the 1st of the month. • These fees will appear on the commuter invoice under the following line items: • Bicycle Program Monthly Service Fees • Bicycle Program Claims Reimbursements • A report will be generated by WageWorks for the detail for the service fees and claims reimbursements. (Currently not available on the ER site.) • Bicycle participants are considered additional participants – your commuter service fee will apply.

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