The Flexible Spending Accounts (FSA) aka 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 FSA is an account that you to set-up for your anticipated, eligible medical services, medical supplies and dependent care expenses not normally covered by your insurance. With an FSA, you benefit from having less taxable income in each of your paychecks, which means more spendable income to use towards your eligible medical and dependent care expenses.
Flexible Spending Accounts Overview
New Jersey Institute of Technology
University Heights Newark, New Jersey 07102
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