Benefits Administration and Insurance Solutions

Overview information for the ADP Commuter Benefits Program, including the benefits of participation, how to plan your contributions, types of expense accounts, and more. If it’s time to buy a new car, consider buying a fuel-efficient vehicle such as a hybrid. Do your research first, however, as some are much better deals than others.

How the End of the COVID-19 Public Health Emergency (PHE) and National Emergency Impacts Employee Benefits

Employers who succeed in keeping their employees engaged often find the right mix of both types of benefits. On the more extreme side of things, some organizations are even reconsidering their location so they can better accommodate their workforce, as reported by the Vancouver Courier. To thrive, your business needs to attract and keep the best and brightest employees. ADP and its affiliates have got your back with standout benefits like retirement plans and group health insurance, as well as benefits administration and business insurance. A Flexible Spending Account (FSA) can save employees up to 40% on expenses they already pay for. Depending on the type of FSA, employees can pay for certain medical expenses and/or dependent care expenses tax-free, through payroll deductions.

Benefit Resource, Inc., an Inspira Financial solution

This commitment, in turn, fosters a positive workplace culture and aids in attracting and retaining top talent. While the overarching goal of commuter ordinances is consistent, the specific requirements and regulations can vary significantly from one city to another. Some ordinances apply to businesses of a certain size, while others may target particular industries or geographic locations. Navigating this regulatory landscape requires a nuanced understanding of local ordinances to ensure compliance. A Specialty Account, also known as a Lifestyle or Wellness Account, allows employers to assist employees in paying for specific expenses.

Dependent Care FSA

The four types of direct compensation are hourly pay, salaries, commission and bonuses. Benefits packages fall under indirect compensation, which in some cases, is just as valuable to employees as their paychecks when they decide whether to work for an employer. Now, all that information is at an employee’s fingertips and they can understand their coverage, what they’ve chosen, who’s eligible and who their dependents are. From a day-to-day activity perspective, our benefits team especially has seen a big change in the types of questions they’re now being asked.

• COBRA coverage allows qualified beneficiaries the right to maintain group health benefits when coverage would otherwise be lost due to a qualifying event.
• This commitment resonates positively with environmentally conscious consumers and employees, enhancing a company’s overall reputation.
• While the overarching goal of commuter ordinances is consistent, the specific requirements and regulations can vary significantly from one city to another.
• These solutions integrate with ADP payroll, making it easy to administer commuter benefits, as well as other pre-tax offerings like health savings accounts, flexible spending accounts, and more.
• Benefits packages fall under indirect compensation, which in some cases, is just as valuable to employees as their paychecks when they decide whether to work for an employer.
• We take the burden away and provide you with peace of mind through a compliant, no worry COBRA solution.

What are the top 10 employee benefits?

Plus, you’ll have access to deep insights that can help you understand changing employee preferences and advanced technology to adapt accordingly. One Australian researcher has pioneered the idea of “effective speed,” which takes both the cost and time of commuting and displays both in terms of working hours. A long adp commuter benefits commute doesn’t just waste your time — it’s also a serious drain on your budget. According to a national poll conducted in 2016 on behalf of CareerBuilder, 84 percent of people drive to work, and 37 percent of them spend $25 or more on gas per week. Multiply that by 50 weeks, and that’s $1,250 a year just on gas, not to mention tolls, car maintenance, etc.

Group Health Insurance

Commuter ordinances can help create more sustainable and livable cities by incentivizing employers and employees to adopt these practices. This means that, more and more, the burden for this employee service will fall exclusively on the employer. Each employer should, therefore, understand exactly how much money their workforce’s commute is costing them, considering such factors as time, efficiency, enthusiasm, talent, fees, compliance and even PR. With that understanding, businesses should be able to make effective investments in commuter benefits that can be essentially revenue neutral. Beyond the financial benefits, commuter ordinances can align with corporate environmental and social responsibility goals. By promoting sustainable commuting options, businesses contribute to reducing carbon footprints and mitigating the environmental impact of daily commuting.

• For example, if you spend $200 a month on the subway and are in the 25 percent tax bracket, this program would save you $50 a month ($600 a year) in taxes.
• Fixing the problem of commute times in an affordable way is much more difficult than simply identifying the problem and its magnitude.
• That makes basic sense, but many managers are astonished to find out just how profound the impact can be.
• Is there a topic or business challenge you would like to see covered on SPARK?
• In the wake of falling corporate tax rates, some lawmakers have moved to reduce the federal incentives for businesses to invest in commuter benefits, as noted by the Washington Post.
• Commuter ordinances often intersect with pre-tax benefit programs, offering tax advantages to both employers and employees.

Industry analyst firm NelsonHall recognized ADP as an Overall Leader in its Benefits Administration NEAT Assessment 2024 for our ability to drive digital transformation and meet clients’ unique needs. Take your organization to the next level with practical tools and resources that can help you work smarter. Each day when she arrives, she lets out a sigh that most people reserve for the end of the day on a Friday. With the whole workday still ahead, however, that sound signifies resignation rather than release — and your bottom line could suffer as a result.

As commuter ordinances continue to evolve, businesses must be proactive in managing their compliance efforts. Staying aware of legislative developments, understanding the specific requirements of each ordinance, and implementing effective commuter benefit programs are essential steps in navigating this complex landscape. Examples of traditional benefits include health and dental care, life insurance and retirement savings plans. Unique benefits, on the other hand, consist of education assistance, paid parental leave, telecommuting and more.

And with these money-saving tips, your daily trip to work will also be a little more affordable. Ask your coworkers if they would be interested in setting up an office carpool. Rideshare.org estimates that if your commute is more than 12 miles, a two-person carpool can save over $1,500 a year. Carpooling can also get you to work faster in areas with special high-occupancy vehicle (HOV) lanes. These tips can help bring down the cost of your commute to a more manageable level.