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What we do

Advantage Administrators formerly known as R.D. Drenkow & Co., Inc., was founded in 1987 by ERISA attorney Rodney D. Drenkow as an independent employee benefit consultant and administrator. Our experienced staff can help you establish a benefit plan that will satisfy the needs of your employees. As an independent third party administrator, we provide all the services necessary for tax-favored employee benefit programs, such as: Consulting, Documentation, Compliance testing, Trust Accounting, and IRS Reporting.

Download an infographic of our Product Offerings here.AA Product Offerings

Advantage Administrator plan options include:

A Defined Contribution is an effective and simple way for an employer to take control of employee benefit costs. The employer selects a set amount of money called a defined contribution that employees can use to enroll in any eligible group health insurance, ancillary insurance, or medical and dependent care reimbursement account.

Allows employers to offer tax-free reimbursements of qualified employee medical and/or dependent care expenses, or allows an employer to offer tax-free benefits to employees by giving credits.

  • Health Flexible Spending Accounts (Health FSA)
  • Dependent Care Assistance Program (DCAP)
  • Health Savings Accounts (HSA)
  • Limited Flexible Spending Account (LFSA)
  • Defined Contribution (DC)

An HRA Plan is an effective and simple way for an employer to take control of employee health care benefit costs.

Medical Expense Reimbursement HRA (Comprehensive HRA)
Partial Self Funding HRA (Basic and Extreme Bridge HRA)

Retirement Plan allow employees and owners to set aside pre-tax dollars for their future use:

  • Standard 401(k) Plan
  • Safe Harbor 401(k) Plan
  • Employee Stock Ownership Plan (ESOP)
  • Pension/Profit Sharing Plan

News

Jul
16

Offices closed July 24th for Volunteer Day

Our offices will be closed Thursday, July 24th. Our employees will be volunteering throughout the community during Waverly’s RAGBRAI overnight visit.  [...]

Jun
2

Text Alert adds U.S. Cellular

Participants can opt into text alerts through their online web account.
Simply, click on the Mobile Access page of the [...]

May
28

PROVIDING INCENTIVES FOR EMPLOYEES WHO WAIVE MAJOR MEDICAL COVERAGE Under the Affordable Care Act

Some employers, particularly school districts, provide an incentive to employees who “opt-out” of the employer’s group medical plan.  This [...]

May
6

EMPLOYER REPORTING on Forms 1095-B and 1095-C

Under the Affordable Care Act

In March the IRS released final regulations concerning the information returns required to be [...]

Apr
24

IRS announces 2015 HSA Limits

Maximum contributions to health savings accounts will jump slightly next year, the IRS announced. It will increase $50 for individuals [...]

Apr
22

2014 HSA Annual Contribution

Self-Only Coverage  $3,300.00
Family Coverage $6,550.00
HSA 2014 Insurance Policy.
2014 Flex Medical Mileage Reimbursement
23.5 cents per mile

The Advantage

Any administrator can propose a plan, but we take our administration the extra mile for you and your employees by providing great customer service. Our knowledgeable staff is available to personally assist participants and employers. Plan administration is not just a part of our business; it is our business.