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Begin or Change a Tax Saver Benefit (TSB) Account
A qualified change of status will allow you to make changes to a plan outside of
Open Enrollment. Any changes must be made within 60 days
from the date of the change in status.
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Complete the Change of Status form and return it to the campus Human Resources office. (This step is required by the IRS.)
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Upon receipt of the Change of Status form, the campus Human Resources office will send you a personalized benefit enrollment form to change your plan or coverage, or you may arrange to pick it up.
- Review the Tax
Saver Benefit plan booklet and decide what changes
you will make to your plan.
In the case of marriage, changes to an existing TSB plan election
will create two election periods--one before and one after the
marriage. Consult Nyhart
(the plan administrator) with any questions about eligible
expenses for the two periods.
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Consult Nyhart or a tax advisor if you have questions about the tax
consequences of a change.
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Complete the Tax Saver Benefit section of the personalized enrollment
form you receive and return it to the Human Resources office. You
may need to bring supporting documentation as indicated on this
form. (You only need to do this once.)
- If desired, participants may authorize direct deposit of the
reimbursed funds using the Direct
Deposit Authorization/Termination form.
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