FSA & HSA Plans

The Flexible Spending Account (FSA) aka Tax$ave

Tax$ave is the State’s tax savings program provided through Horizon BCBS under the provisions of section 125 of the Internal Revenue Code. Tax$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. 

With a FSA, you benefit from having less taxable income in each of your paychecks, and the pre-tax income put away can be used towards your eligible medical and dependent care expenses.

• The Healthcare FSA is an account that you may set-up for your anticipated, eligible medical services, and medical supplies expenses not normally covered by your insurance.
• The Dependent Care FSA is an account that you may set up for your anticipated, eligible and dependent care expenses not normally covered by your insurance.

Flexible Spending Account Quick Reference Guide 
Flexible Spending Account Essential Guide 

The Health Savings Account aka Horizon MyWay HSA  

Horizon My Way HSA is available to all NJ DIRECT High Deductible Health Plan (HDHP) subscribers through Horizon BCBS.

HSAs are a type of personal savings account funded by the subscriber with pre-tax dollars. Horizon MyWay HSA funds may be used to pay for qualified medical expenses including prescription drugs, as outlined under the provisions of section 125 of the Internal Revenue Code. The subscriber is responsible for managing their Horizon MyWay HSA account. NJ DIRECT HDHP members have the flexibility to choose whether to receive care in-network or out-of-network. To get the most from the health plan and limit out-of-pocket expenses, in-network care is encouraged.

Health Savings Account Guide

For more information on Horizon FSA and HSA's visit, https://www.horizonblue.com/national/tools-services/horizon-myway/horizon-myway-fsa.