Parking & Transit Accounts through Optum Financial allow eligible employees the opportunity to pay certain work-related parking and transit expenses with tax-free dollars.
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
There are 2 types of accounts offered to UW System employees:
Covers work-related parking expenses such as parking ramps and/or park and rides. This account may not be used to pay for parking at a University lot with the exception of Flex pass expenses. If you pay for University parking through payroll deduction, your costs are deducted pre-tax and are not eligible for reimbursement with this account.
The monthly contribution limit for a Parking Account for 2024 is $300.
Effective January 1, 2023, there is a $50 annual minimum contribution amount for the Parking Account.
The monthly contribution limit for a Transit Account for 2023 is $280.
Effective January 1, 2023, there is a $50 annual minimum contribution amount for the Transit Account.
You can enroll in or change your Parking or Transit election at any time. Your election will begin on the first of the month on or following your enrollment. When you enroll in a Parking or Transit Account, you designate an annual election amount which is then divided into equal amounts per paycheck.
These accounts have unlimited carryover, so there is minimal “use-it-or-lose-it” risk.
You must re-enroll each year to participate.
Enrollment can be completed one of two ways:
- Log into the MyUW Portal.
- Find the ‘Benefit information’ module and click ‘Launch full app’.
- On the ‘Summary’ tab scroll to the bottom and click ‘View Benefits Summary Detail’.
- In the left hand navigation click on ‘Parking & Transit Selections’.
- To start filling out the form click ‘Add a New Value’ button or to see a form previously submitted click ‘Search’.
- Fillable PDF or Paper:
If you enroll in a Parking Account you will receive a Payment Card. When used, payment will automatically be deducted from your Parking Account. Commuter expenses cannot be paid with the the Payment Card.
For both the Parking & Transit Accounts you may pay expenses out-of-pocket and then submit claims manually. 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 by which you may submit your claims manually 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 in the Forms & Resources section below) and submit it with the appropriate documentation to:
- Mail: Claims Department, PO Box 622317, Orlando, FL 32862-2317
- Fax: (443) 681-4602