Regence Commute Reimbursement Expense Account (CREA)
Savings for the road ahead
The Regence CREA gives your employees a smart way to save on their
commute-related work expenses. The program allows them to deduct
pre-tax funds from their paychecks and use them for eligible work-related
transportation and parking expenses. Employees save taxes on the
money they are already paying to fund their daily commute.
This reduces the amount your employees pay in taxes and can save
them hundreds of dollars a year
Savings work for everyone
The Regence CREA is an effective
way for you and your employees
to save on commute-related
expenses. Employees can
take advantage of lower
taxable income, which will
save them money.
And you'll save on Social
Security costs and broaden
your benefit plan. Employees
will welcome these savings
today and down the road.
How does a CREA work?
Using the Regence CREA is easy. Employees simply follow these steps:
- At the beginning of each year, the employee decides the total yearly CREA contribution amount.
- Funds are contributed by the employee through regular payroll deduction and placed into a special account.
- Eligible transportation-related expenses are paid upfront by the employee.
- The employee submits a claim for reimbursement from the CREA; a check for the claim amount is then mailed directly to the employee.
What is covered?
The Regence CREA can be used to cover these
commute-related expenses:
- Work parking
- Mass transit (subway, bus, ferry)
- Van pooling expenses
Additional expenses may qualify.
Frequently asked questions
How much should be set aside?
The amount an employee chooses
to set aside is based on what they
expect to spend on commute-related
expenses in a given year. Funds in
CREA accounts can be used only
in the plan year. Any unused funds
will go back to the employer.
Can contribution amounts
be changed?
The annual elected amount cannot
be changed in a calendar year.
What if employment is terminated?
If an employee changes jobs, they
can still request reimbursement
for any transportation-related
expenses that they incurred
prior to termination.
