TAX$AVE

Tax$ave News | About Tax$ave | Flexible Spending Accounts

TAX$AVE NEWS

Pension Reform and Section 125 Plans for Local Employers

Chapter 78, P.L. 2011, the Pension and Health Benefit Reform Law, requires local government and local education employers to offer Section 125 plans to their employees.

The Tax$ave Program is only available to eligible State employees.

• Local employers must establish their own Section 125 programs.
  
  
• Local government and local education employees should contact their human resources office or benefits administrator to determine the specific plans and benefits that are available.

Find out more about Pension and Health Benefit Reform.

New Look to FSA Online Statements and Our Go Green Initiative

Sign up to Go Green at the Fringe Benefit Management Company's Web site and get your Tax$ave Flexible Spending Account statements online. The Go Green initative also provides real time customer alerts, transaction histories, and e-mail notifications whenever there is activity on your account, such as when a claim is received or paid. Look for your online statements and alerts under our new name and email domains.

Sign up to Go Green at: www.myFBMC.com  Just log into your FSA account, click the “Accounts” tab, and select “Online Statement.” An easy-to-follow online tutorial is available to guide you through the new Go Green enhancement.  Contact Fringe Benefit Management Company's Customer Care office at: 1-800-342-8017 or visit online at: www.myFBMC.com if you have questions or concerns.

Click the image to view or print the flier

ABOUT TAX$AVE

The State Employees Tax Savings Program — Tax$ave, is a benefit program available under Section 125 of the Federal Internal Revenue Code that 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.

Tax$ave is only available to eligible State Employees. An eligible employee is any full-time employee of the State or a State college or university who is eligible to participate in the State Health Benefits Program.

Tax$ave consists of three separate component plans. An eligible employee may elect to participate in any combination, all, or none of the plans. The three components of Tax$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. Enrollment in the POP is automatic unless enrollment is declined.
  
  
• The Unreimbursed Medical Flexible Spending Account (Medical FSA) 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. Reenrollment is required each calendar year — link to FSA plan Web site.
  
  
• The Dependent Care Flexible Spending Account (Dependent FSA) 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. Reenrollment is required each calendar year — link to FSA Plan Web sites.

TAX$AVE PUBLICATIONS

For additional information about Tax$ave, see Fact Sheet #44, Tax$ave Adobe PDF (42K)

Eligible employees should also review the Tax$aveOpen Enrollment Newsletter Adobe PDF (772K), the Premium Option Plan brochure Adobe PDF (72K), and the Flexible Spending Plans Flier Adobe PDF (349K), which are linked from this Web site.

Employees can also contact the flexible spending account administrator — Fringe Benefits Management Company, a Division of WageWorks — for more information on the Unreimbursed Medical Flexible Spending Account and Dependent Care Flexible Spending Account portions of Tax$ave. Fringe Benefits Management Company's Customer Care telephone number, mailing address, and Web link are provided below.

Tax savings on commuter mass transit and parking expenses are available as a separate benefit to State employees under the Commuter Tax$ave Program. See Fact Sheet #67, Commuter Tax$ave Program, Adobe PDF (72K) for details.

FLEXIBLE SPENDING ACCOUNTS

Fringe Benefits Management Company, a Division of WageWorks, administers the Unreimbursed Medical Flexible Spending Accounts and Dependent Care Flexible Spending Accounts for Tax$ave and the Division of Pensions and Benefits.

FSA ENROLLMENT

You must enroll with FBMC each plan year
in order to participate in a Flexible Spending Account.

• Enroll online during the Open Enrollment at the Fringe Benefits Management Company's Web site: www.myFBMC.com. To start the online enrollment process, click "New User Signup"
  
  
• Enroll by telephone by calling Fringe Benefits Management Company's Interactive Voice Response (IVR) system toll-free at: 1-866-440-7150
  
  
• Enroll by mail when you send an Enrollment Form Adobe PDF (86K) to Fringe Benefits Management Company

Fringe Benefits Management Company Claim Form Adobe PDF Fill-in Form (237K)

For additional information about the FSA plans for Tax$ave members, contact Fringe Benefits Management Company's Customer Care toll-free at 1-800-342-8017, or visit Fringe Benefits Management Company online at: www.myFBMC.com

Fringe Benefits Management Company a Division of WageWorks P.O. Box 1878 Tallahassee, Florida 32302-1878 1-800-342-8017   webcustomerservice@fbmc.com

Last update: December 30, 2011