Employee Transit Expense Account
The TEA is a flexible spending account available only to insurance-eligible employees. By enrolling in the TEA, employees elect to have money deducted untaxed from their pay and then use that money to reimburse themselves for their university parking permits. There is also an account available for bus pass and van pool expenses.
You may enroll in the TEA any time prior to the date the permit takes effect, that is considered to be the date you begin incurring the parking expense. Also, even though the parking permit spans two calendar years, you enroll in the TEA for a single calendar year and claim reimbursement for the full expense in the year the permit takes effect.
To enroll in the TEA, complete a Transit Enrollment Form and fax it to Minnesota Management & Budget State Employee Group Insurance Program (MMB-SEGIP).
- The form is available on the BRI website under Enrollment Forms.
- You may select either the annual election or monthly election. With the annual election, deductions will be taken out of your paychecks through the end of the year. For the monthly election, you determine the number of months to take deductions. If you are purchasing a gold permit you will need to split the amount over a minimum of two months to stay within the $260 monthly limit.
If you are already enrolled in the TEA but wish to change your enrollment amount, complete a change form. The change form is located on the BRI website.
DO NOT send enrollment or change forms to BRI. These forms must be submitted directly to:
Minnesota Management & Budget
State Employee Group Insurance Program
658 Cedar Street
St. Paul, MN, 55155
or fax number 651-296-5445
or email to email@example.com
You must wait until after payroll deductions have begun before you submit your reimbursement request to BRI. It is your responsibility to submit the reimbursement claim and documentation within the appropriate time frame.
You are encouraged to read the “Flexible Benefits and Transit Expense Plan” before enrolling in the TEA. The summary is available on the BRI website. If you elect to enroll in a flexible spending account, you are responsible for being in compliance with the regulations that apply to the plan. You should understand the possibility of forfeiting money if you miss deadlines. In addition, if you use the TEA for your parking permit you may not sell any portion of your permit back to the University because that would violate income tax regulations.
We are often asked how much income tax a person saves by enrolling in the TEA. That will vary from one individual to another depending on taxable income, tax filing status, etc. You would need to consult a tax advisor or review the federal and state income tax tables to determine approximately how much tax savings it will mean for you.