The plan allows you to set aside a portion of your paycheck before taxes are deducted, which WageWorks—our benefit provider—uses to pay your commuting expenses, such as parking, mass transit and van pool. You see your savings in the form of reduced tax withholding. You may sign up for this program at any time and may cancel at any time before the monthly cutoff date (the 10th of each month). When you reach your pre-tax savings limit, you don’t have to leave the plan. WageWorks provides convenience by then using post-tax dollars to continue paying eligible commuting costs for you. Capital One pays for program administration of the commuter benefits offering. You pay only the cost of your transit or parking.
How to Sign Up
Go to wageworks.com and click on Register Now. The site will guide you through a few simple steps. You'll will be assigned a username and password. You'll need to use the last four digits of your Capital One employee ID (that’s the six digit number available under More Details in your Pulse profile—not to be confused with your eID, which is a series of three numbers and letters) and your home ZIP code in order to register a new account with WageWorks. Capital One doesn't send Social Security numbers on our files to WageWorks. We only provide your employee ID.
During sign-up, you'll be able to select your transit or parking provider directly at the site. If your provider is not listed, please contact WageWorks at 1-877-924-3967 for assistance.
In general, you need to sign up early in the month (by the 10th of the month in most cases) to begin receiving benefits the following month. If you want to cancel your benefits you must also do so by the 10th of the month prior to the next benefits month.
Visit Pulse for more details.