Three Ways to Pay for Parking
There are three ways you can pay for eligible parking expenses with the Parking Account:
- Commuter Card: With the Commuter Card, your contributions go to purchase prepaid cards, and you use these to pay for parking each time you park. See "How Commuter Cards Work for Parking/Transit."
- Pay My Provider: With the Pay My Provider option, Health Equity sends payment (using your contributions) directly to the garage. You must ensure that the payment information is accurate and that your garage will accept payment from a third party.
- Pay Me Back: With the Pay Me Back option, you pay your garage, and then you file a claim to be reimbursed from your Parking Account. See "How the "Pay Me Back" Parking Option Works."
One of the advantages of enrolling in the Parking Account option is that you can benefit from before-tax payroll deductions. By electing the "Pay My Provider" option, before-tax and after-tax deductions will be taken from your pay and Health Equity will pay your garage directly.
If you choose this option, you should advise your JPMorgan Chase parking coordinator to discontinue any current after-tax payroll deductions that are not part of the Transportation Spending Accounts — this will help avoid the possibility of overpayment to the garage.
Alternatively, if you continue to have your JPMorgan Chase parking coordinator pay the garage and then file for reimbursement through Health Equity, you should elect to participate in the "Pay Me Back" option. Please Note: Payroll deductions for the "Pay Me Back" option are limited to before-tax legal limits.