Tax$ave is the state's tax savings program provided under the provisions of section 125 of the Internal Revenue Code. Tax$ave can provide you with an opportunity to increase your available income by reducing your federal tax liability. If you are eligible to enroll in the State Health Benefits Program, you may also participate in one or more Tax$ave Plans.
The Premium Option Plan (POP)
- You do not pay federal taxes on money earned that is used to pay medical and/or dental insurance premiums
- Employees enrolled in a State Health Benefits Plan are automatically enrolled in POP unless they decline by completing a Declination of POP form
The Unreimbursed Medical Spending Account
- Voluntary program
- Set aside pretax dollars to pay for eligible medical, prescription drug, and dental expenses not covered by insurance for you and your dependents
- Claim forms are submitted for reimbursement of eligible expenses
- Maximum election is $2,500 for the 2024 tax year
- Benefits unused by March 15 of the following calendar year will be forfeited
The Unreimbursed Dependent Care Spending Account
- Voluntary program
- Set aside pretax dollars to pay for eligible dependent care expenses
- Claim forms are submitted for reimbursement of eligible expenses
- Dependents include children under age 13 or dependents incapable of self-care
- Maximum election is $5,000 for the 2024 tax year
- Benefits unused by March 15 of the following calendar year will be forfeited
How to Enroll:
Eligible employees may enroll in flexible spending accounts:
- To enroll, please visit www.HorizonBlue.com/enrollfsa and follow the enrollment instructions provided by Further or call 866-999-3531 on Monday through Friday from 8 a.m. to 9 p.m. ET.
- New employees may enroll during their initial enrollment period when hired. All other eligible employees must enroll during Open Enrollment
- New employees who enroll in the Unreimbursed Medical Spending Account may file claims beginning the first of the month after an initial 60-day waiting period
- New employees who enroll in the Dependent Care Spending Account may file claims beginning the first of the month after an initial 30-day waiting period