PBS Qualified Parking Account QPA
What is a Qualified Parking Account?
A Qualified Parking Account, also called a “QPA,” is like a personal bank account in which you can set aside an amount of money on a pre-tax basis to cover qualified parking expenses incurred to and from your place of work. In other words, the money you contribute to the QPA will never be taxed. For every dollar you set aside in the QPA you effectively reduce the amount of your work-related parking expenses.
How can I use the funds?
These funds will be loaded as you contribute onto your PBS Prepaid Benefits Card. This card is a special-purpose MasterCard™ card that lets you swipe to access the pre-tax amounts set aside in your QPA at eligible parking providers.
The PBS benefits card (Benny card) is valid for five years. Please check the expiration date on your card. Funds will be re-loaded every plan year you participate, and new cards will not be sent unless you lose the card or request for additional cards to be sent to your home.
What are considered eligible QPA expenses?
Examples of qualified out-of-pocket transportation expenses that can be paid for with a QPA include:
- Parking expenses in garages and lots for any type of vehicle on or near your work location (or parking for work-related travel)
- Parking on or near a location from which you commute using mass transit to and from work (or parking for work-related travel)
Only expenses incurred by the employee are eligible for reimbursement; spousal or dependent travel or parking expenses will not be reimbursed.
*You are permitted to enroll in both a Qualified Parking Account and a Qualified Transit Account. The funds cannot be transferred between your parking and transit accounts.
How much can you elect to contribute to a QPA?
The IRS sets the maximum limits for these benefits on a yearly basis. For 2023, you may contribute on a pretax basis up to $300.00 per month.
What happens if all the QPA money is not used?
QPA funds roll over from month-to-month and to your next new plan year to utilize for as long as you are an active, full-time employee.
How can PBS help assist?
Our call center is open during PBS’s business hours to help answer any questions you may have! You may also use our automated phone system to check your pre-tax account balance(s) 24/7. PBS also provides employees with an online portal to manage your account through the web and a mobile app “PBS Benny” for on-the-go convenience!
For more information on your plan and plan specifics, please inquire with HR for a copy of your QPA plan document.