{"id":758,"date":"2018-11-20T13:55:53","date_gmt":"2018-11-20T13:55:53","guid":{"rendered":"http:\/\/www.montclair.edu\/human-resources\/?page_id=758"},"modified":"2023-09-21T11:02:28","modified_gmt":"2023-09-21T15:02:28","slug":"taxsave","status":"publish","type":"page","link":"https:\/\/www.montclair.edu\/human-resources\/benefits\/health-benefits\/taxsave\/","title":{"rendered":"Tax$ave Plans &#8211; Flexible Spending Accounts"},"content":{"rendered":"<p><a href=\"http:\/\/www.montclair.edu\/human-resources\/wp-content\/uploads\/sites\/181\/2023\/09\/2024-Horizon-NJ-TaxSave-Essential-Guide.pdf\"><\/a><a href=\"http:\/\/www.montclair.edu\/human-resources\/wp-content\/uploads\/sites\/181\/2023\/09\/2024-Horizon-NJ-TaxSave-Quick-Reference-Guide.pdf\"><\/a><a href=\"http:\/\/www.montclair.edu\/human-resources\/wp-content\/uploads\/sites\/181\/2023\/09\/2024-Horizon-NJ-TaxSave-Essential-Guide.pdf\"><\/a>Tax$ave is a benefit program that allows eligible employees to set aside before-tax dollars to pay for certain medical, dental, and dependent care expenses.<\/p>\n<div class=\"link-list\">\n<ul>\n<li><a rel=\"noopener noreferrer\" href=\"http:\/\/www.montclair.edu\/human-resources\/wp-content\/uploads\/sites\/181\/2023\/09\/2024-Horizon-NJ-TaxSave-Essential-Guide.pdf\" target=\"_blank\">Flexible Spending Account Reference Guide<\/a><\/li>\n<li><a rel=\"noopener noreferrer\" href=\"http:\/\/www.montclair.edu\/human-resources\/wp-content\/uploads\/sites\/181\/2023\/09\/2024-Horizon-NJ-TaxSave-Essential-Guide.pdf\" target=\"_blank\">Tax$ave Essential Guide<\/a><\/li>\n<\/ul>\n<\/div>\n<h2 id=\"over\">Tax$ave Plans Overview<\/h2>\n<p>The State Employees Tax Savings Program \u2013 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.<\/p>\n<p><strong>Medical Flex Spending<\/strong><br \/>\n$2,500 per year max<\/p>\n<p><strong>Dependent Flex Spending<\/strong><br \/>\n$5,000 per year max<\/p>\n<p><strong>You must re-enroll in a Flexible Spending Account (FSA) each plan year to participate, plans do not renew automatically<\/strong><em>.<\/em><\/p>\n<h2 id=\"elig\">Tax$ave Plans Eligibility<\/h2>\n<p>Tax$ave is only available to eligible State Employees. An eligible employee is any full-time employee of the State or a State college or university who is eligible to participate in the State Health Benefits Program.<\/p>\n<h2 id=\"enroll\">How to Enroll in Tax$ave Plans<\/h2>\n<p style=\"font-weight: 400\">New employees may enroll during their initial enrollment period when hired. All other eligible employees must enroll during Open Enrollment.<\/p>\n<p style=\"font-weight: 400\">Employees may enroll directly with Horizon in one of these ways:<\/p>\n<ul style=\"font-weight: 400\">\n<li>Online at\u00a0<a rel=\"noopener noreferrer\" href=\"https:\/\/horizonmyway-enroll.hellofurther.com\/portal\/601050\/login\" target=\"_blank\">HorizonBlue.com\/enrollfsa<\/a><\/li>\n<li>Call:\u00a01-866-999-3531<\/li>\n<li><a href=\"http:\/\/www.montclair.edu\/human-resources\/wp-content\/uploads\/sites\/181\/2022\/12\/FSA-Enrollment-Form.pdf\">Enrollment Form (PDF)<\/a><\/li>\n<\/ul>\n<p>At the beginning of the plan year, you elect a dollar amount to contribute to your account. This election can only be changed if you experience a life change that qualifies as an Election Change Event.<\/p>\n<p>After experiencing an Election Change Event, you have 30 days from the date of the event to contact your employer and change your election amount.<\/p>\n<p><strong>There are two restrictions to changes made as a result of an Election Change Event:<\/strong><\/p>\n<ol>\n<li>The change must correspond with the type of change (e.g., getting married increases the election amount; divorce decreases the amount).<\/li>\n<li>The new dollar amount can&#8217;t be less than the amount that you&#8217;ve already contributed or been reimbursed in the current plan year.<\/li>\n<\/ol>\n<h3>Events that allow you to change your Medical FSA election<\/h3>\n<h4>Events that increase election<\/h4>\n<ul>\n<li>Marriage<\/li>\n<li>Birth or adoption of child<\/li>\n<li>Child who gains dependent status<\/li>\n<\/ul>\n<h4>Events that decrease election<\/h4>\n<ul>\n<li>Divorce<\/li>\n<li>Child no longer qualifies as a dependent<\/li>\n<li>Death of dependent<\/li>\n<\/ul>\n<h4>Events that increase or decrease election<\/h4>\n<ul>\n<li>Your spouse or dependent starts or ends a job<\/li>\n<li>Your spouse or dependent has an increase or decrease in work hours<\/li>\n<li>You gain or lose eligibility for employer-sponsored health insurance or health flexible spending coverage<\/li>\n<li>You receive a court order requiring you or another person to provide health coverage for an eligible child<\/li>\n<li>You, your spouse or dependent gain or lose Medicare or Medicaid coverage<\/li>\n<li>You go on or return from FMLA leave as allowed by FMLA requirements and plan rules<\/li>\n<\/ul>\n<p>To request a change in your election, download the\u00a0<a href=\"http:\/\/www.montclair.edu\/human-resources\/wp-content\/uploads\/sites\/181\/2022\/08\/change-in-status-form-2022.pdf\">Qualifying Event Notification Form<\/a>. Fill out the form and give it to your employer or benefits administrator, who will send it to Horizon MyWay.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tax$ave is a benefit program that allows eligible employees to set aside before-tax dollars to pay for certain medical, dental, and dependent care expenses. Flexible Spending Account Reference Guide Tax$ave Essential Guide Tax$ave Plans Overview The State Employees Tax Savings Program \u2013 Tax$ave, is a benefit program available under Section 125 of the Federal Internal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3368,"parent":236,"menu_order":10,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"footnotes":""},"class_list":["post-758","page","type-page","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/pages\/758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/comments?post=758"}],"version-history":[{"count":20,"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/pages\/758\/revisions"}],"predecessor-version":[{"id":7463,"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/pages\/758\/revisions\/7463"}],"up":[{"embeddable":true,"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/pages\/236"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/media\/3368"}],"wp:attachment":[{"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/media?parent=758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}