Parking & Transit Accounts

Overview

The Universities of Wisconsin offers eligible employees the opportunity to pay certain work-related parking and transit expenses with tax-free dollars through Parking & Transit Accounts. You may use the funds in your parking and transit accounts until exhausted or you become ineligible.

Optum is the plan administrator for the Parking & Transit Accounts.

Review this page for eligibility, contribution amounts, eligible expenses, and deadlines.

Eligibility

All employees, including rehired annuitants and student hourly employees, are eligible for this program, except:

  • Student Assistant with one of the following titles: Fellows, Scholars, Trainees
  • Employee-in-Training with one of the following titles: Grad Intern/Trainee, Post-Doc Fellow/Trainee

Account Types

There are two types of accounts offered to Universities of Wisconsin employees:

Parking Account

Covers work-related parking expenses such as parking ramps. If you pay for University parking through payroll deduction, your costs are already deducted pre-tax; therefore, they are not eligible for reimbursement with a Parking Account.

A list of eligible Parking expenses can be accessed in the Forms & Resources section below.

Transit Account

Covers work-related commuting expenses such as public transit passes to and from work (for example: bus, train, subway), and commuter highway vehicles (such as: vanpools).

A list of eligible Transit expenses can be accessed in the Forms & Resources section below.

Contribution and Carryover Amounts

The contribution minimum is established by the Department of Employee Trust Funds (ETF) and approved by the Group Insurance Board (GIB). The contribution maximum is established by the IRS on an annual basis, reviewed by ETF and approved by the GIB.

Account Type 2024 Amounts 2025 Amounts
Contribution Carryover Contribution Carryover
Parking Account $50 annual minimum

$300 monthly maximum

 $50* – unlimited $50 annual minimum

$315 monthly maximum

 $50* – unlimited
Transit Account $50 annual minimum

$300 monthly maximum

 $50* – unlimited $50 annual minimum

$315 monthly maximum

 $50* – unlimited

Depending on your account balance on March 31 of the following plan year, the carryover provision may allow you to carry over your remaining balance as long as you remain an active employee on December 31st.

*Reminder: To be eligible for carryover from 2024 to 2025, you must have a minimum balance of $50 in your account at the end of the run-out period (March 31, 2025) OR re-enroll during the Annual Benefits Enrollment period (September 30 – October 25, 2024).

If eligible, carryover will appear in your parking and/or transit account around April 15th.

Enrollment

You can enroll in or change your Parking or Transit contribution amount at any time. Your new contribution amount will begin on the first of the month on or following your enrollment/change. When you enroll in a Parking or Transit Account, you designate an annual contribution amount. There is a minimum annual contribution amount of $50. Contributions will be deducted from two paychecks each month. You must re-enroll each year to participate.

Enrollment can be completed as follows:

  • Online: 1) Log into my.wisconsin.edu, 2) Launch the ‘Forms tile’, 3) In the left hand navigation, click ‘Parking & Transit Selections’, 4) Click the ‘Add a New Value’ button or ‘Search’ to see a form previously submitted. For additional enrollment help, review the Parking & Transit Selections Form tip sheet.
  • Fillable PDF or Paper Form: 1) Click on the Enrollment Form located in the Forms & Resources Section below 2) Complete the form and submit it to your institution benefits contact. The form is a fillable document that can be completed and submitted via email, or printed and delivered in person or mailed.

Claims Submission

If you enroll in a Parking Account, you will receive a payment card. When used, payment will automatically be deducted from your Parking Account. The Transit Account does not have a payment card.

For both the Parking & Transit Accounts, you may pay expenses out-of-pocket and then submit claims to Optum for reimbursement. To comply with IRS requirements, documentation is required to substantiate expenses to show they are eligible for reimbursement.

If you pay for your expenses out-of-pocket, there are several methods to submit your claims for reimbursement.

ELECTRONIC Claims Submission

  • Mobile App: Allows you to access your account information wherever you are, 24/7/365. To download, visit the Apple App Store or Android Marketplace and search for “Optum Financial Mobile App.”
  • Optum Website: Follow the instructions on the main page to file your claim.

Paper Claims Submission

  • Complete the Parking & Transit Account Reimbursement Claim Form (available on the Optum website) and submit it with the appropriate documentation to the mailing address or fax number included on the form.

Automatic Premium Conversion

If enrolled, you will automatically have premiums deducted from earnings on a pre-tax basis.

You may choose to waive automatic premium conversion and have your premiums taken on a post-tax basis by filling out the Automatic Premium Conversion Waiver (available in the Forms & Resources section below).

Forms & Resources

Every effort has been made to ensure this information is current and correct. Information on this page does not guarantee enrollment, benefits and/or the ability to make changes to your benefits.

Updated: 05/29/2024