Tax$ave Accounts
Horizon MyWay manages Tax$ave Flexible Spending Accounts for both Horizon and Aetna participants.
Tax$ave, allows eligible employees of the State of New Jersey to set aside before-tax dollars to pay for certain medical, dental, and dependent care expenses, thereby avoiding federal taxes and saving money.
An eligible employee is any full-time employee of the State, or a State college or university, who is eligible to participate in the State Health Benefits Program (SHBP) through Horizon Blue Cross Blue Shield of NJ (Horizon) or Aetna.
Tax$ave consists of three separate component plans. An eligible employee may elect to participate in any combination—all, some, or none of the plans.
The three components of Tax$ave are:
- The Premium Option Plan (POP) allows an employee to pay any SHBP medical and/or dental payroll contributions or premiums with before-tax dollars.
- The Unreimbursed Medical Flexible Spending Account (FSA) allows an employee to set aside money to pay for anticipated medical services and medical supply expenses not normally covered by insurance.
- The Dependent Care FSA is a pre-tax benefit account used to pay eligible dependent care services, such as preschool, summer day camp, before or after-school programs, and child or adult daycare.
NJDPB Tax$ave FSA Administered by Horizon MyWay®
Horizon MyWay gives you more control of your health care and dependent care spending.
A Flexible Spending Account (FSA) is an account you can use for out-of-pocket medical and dependent care expenses. You can contribute to FSAs pre-tax, and the funds can be used to pay for qualified expenses not paid for by your health plan.
Available to all eligible employees of State of NJ.
Click on Learn more and select: Tax$ave & Commuter Tax$ave
Ways You Can Save With Tax$ave
A Flexible Spending Account (FSA) is an account you set up for your anticipated eligible out-of-pocket expenses.
Medical
A Medical FSA is an account you set up for your anticipated eligible medical services and medical supply expenses not normally covered by your insurance. These expenses can be incurred by yourself, your spouse, or a qualifying child or relative.
Is it right for you?
You'd like to supplement your health care savings pretax to pay for qualified out-of-pocket medical, dental, orthodontia, vision, and prescription expenses.
For 2025, participants can contribute $2,500 to a Medical FSA.
Dependent Care
A Dependent Care FSA is a pre-tax benefit account used to pay eligible dependent care services, such as preschool, summer day camp, before or after-school programs, and child or adult daycare.
Is it right for you?
You have a qualifying child under 13 years old—or a relative who isn't physically or mentally capable of caring for themselves—who lives with you for more than half the year.
Participants can set aside up to $5,000 annually.
Commuter
For the 2025 calendar year, eligible employees may execute salary reduction agreements to have up to:
- $300 per month ($3,600 per year) deducted from salary to pay for mass transit costs (includes train, bus, ferry, and vanpool expenses); and/or
- $300 per month ($3,600 per year) to pay for parking at work or at park-and-ride sites.
While this site is a tool to answer most of your questions, full details of the plan are contained in the Summary Plan Descriptions (SPDs), which govern each plan’s operation. Whenever an interpretation of a plan benefit is necessary, the actual plan document will be used.
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NJWELL, administered by the New Jersey Division of Pensions and Benefits, is an incentive-based wellness program offered to eligible employees and their covered spouses who participate in the SHBP/SEHBP. All provisions of the program are established by the Division and are subject to change. More details can be found on nj.gov/njwell/.
Horizon Blue Cross Blue Shield of New Jersey is an independent licensee of the Blue Cross Blue Shield Association. The Blue Cross® and Blue Shield® names and symbols and Blue 365® are registered marks of the Blue Cross Blue Shield Association. The Horizon® name and symbols are registered marks, and HorizonbFitSM, Horizon CareOnlineSM and Horizon Behavioral HealthSM are service marks, of Horizon Blue Cross Blue Shield of New Jersey. ©2024 Horizon Blue Cross Blue Shield of New Jersey, Three Penn Plaza East, Newark, New Jersey 07105.