Flex Spending Accounts

What is MoneyPlu$?

  • MoneyPlu$ offers tax-favored accounts — IRS-approved, tax-free benefits.
  • WageWorks is the third-party administrator of the program.
  • Funds are deducted from your pre-taxed salary for eligible expenses for medical and dependent care costs.
  • Each account has an administrative charge, which is designed to be minimal compared to your tax savings.

Pre-Tax Premiums

  • The Pretax Group Insurance Premium Feature allows you to pay premiums only for the State Health Plan, the State Dental Plan, Dental Plus, Vision and Optional Life (for coverage up to $50,000) before taxes are taken from your paycheck.

Flexible Spending Accounts

  • MoneyPlu$ allows you to pay eligible medical/dependent care expenses with pre-taxed dollars. 
  • You authorize deposits to your MoneyPlu$ account every pay period.
  • You request tax-free withdrawals from your account to reimburse yourself.
  • There are three kinds of Flexible Spending Accounts:
    • Dependent Care Spending Account
      Medical Spending Account
      Limited-use Medical Spending Account, which can accompany a Health Savings Account (HSA). If you incur dependent care and medical expenses, you can establish both a Dependent Care Spending Account and a Medical Spending Account (or a limited-use Medical Spending Account if you contribute to an HSA).

Health Savings Account (HSA)

  • A MoneyPlu$ Health Savings Account (HSA) is available to employees enrolled in the State Health Plan Savings Plan and can be used to pay healthcare expenses.
  • Unlike money in a MoneyPlu$ Medical Spending Account, the funds do not have to be spent in the year they are deposited.
  • Money in the account accumulates tax free; the funds can be used to pay qualified medical expenses in the future.
  • An important advantage of an HSA is that you own it. If you leave Beaufort County School District, you can take the account with you and continue to use it for qualified medical expenses.

Please refer to the Public Employee Benefit Authority (PEBA) Insurance Benefits website www.peba.sc.gov  for further information about the MoneyPlus (Flexible Spending Accounts).

WageWorks - MoneyPlus Inquires
Mailing Address: P. O. Box 14766, Lexington, KY, 40512-4766
Customer Care Center: 800-342-8017
Automated Information: 800-865-3262
Claims FAX: 888-800-5217
Website: www.myFBMC.com