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Tax$ave 2000
Tax$ave, a benefit program available under Section 125 of the Federal Internal Revenue Code, allows eligible
employees to set aside before-tax dollars to pay for certain medical,
dental, and dependent care expenses, thereby avoiding federal
taxes and saving money. An eligible employee is any employee
of the state, a state college or university, or other state agency
who is eligible to participate in the State Health Benefits Program.
Tax$ave consists of three separate component plans, and an eligible
employee may elect to participate in any combination, all, or
none of the plans. The three components of Tax$ave are:
- The Premium Option Plan (POP) allows employees to pay any
State Health Benefits Program medical and/or dental premiums they
have with before-tax dollars.
- The Unreimbursed Medical Spending Account Plan (UMSA) allows
employees to set aside money to pay for qualified medical and
dental expenses not paid by any group benefits plan under which
they or their dependents are covered.
- The Dependent Care Spending Account Plan (DCSA) allows an
employee to set aside funds to pay for anticipated expenses related
to dependent care required to permit the employee and spouse to
work.
Please keep in mind reimbursement requests to either the Medical Expense or Dependent Care Spending Accounts must be
submitted no later than March 31 following the end of the calendar
year for which the account was set up. Any monies in your account not claimed by March 31 will
be forfeited; therefore, it is critical that reimbursement requests be
submitted timely, as soon as possible after the expense is incurred.
Please review your payroll inserts and this website, or contact Horizon Healthcare Insurance Agency at the telephone number, address or hyperlink below for more information on the flexible spending account portion of Tax$ave.
Horizon Healthcare Insurance Agency is administering the Medical Spending Account and Dependent Care Account portions of Tax$ave for the Division.
 Horizon Healthcare
Insurance Agency
3 Penn Plaza East PP-10S
Newark, NJ 07105-2200
Phone: 1-800-224-4426
email: info@fsia-inc.com |
| You can speak to an account representative about UMSA or DCSA during business hours and hear prerecorded plan information during nonbusiness hours.
|
Or you may go directly to Horizon Healthcare Insurance Agency's webpage for information about Tax$ave, your enrollment forms and claim forms..
|
Fact Sheet 44, Tax$ave.
URL: http://www.state.nj.us/treasury/pensions/factxx.htm
August 27, 1999
NJ Division of Pensions and Benefits
PO Box 295, Trenton NJ 08625-0295
Telephone: (609) 292-7524
Questions or comments, e-mail Division of Pensions and Benefits
