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IRS announces family contribution changes for HSAs

 

Today, the IRS published Internal Revenue Bulletin (IRB) 2018-10 that contains Revenue Procedure (Rev. Proc.) 2018-19.

Effective for calendar year 2018, the family contribution limit for HSAs has been lowered to $6,850 from the previously set amount of $6,900. We are in the process of updating Wex Health Administration, Portal and Mobile with the new limits.

This change came as a result of the tax reform law (P.L. 115-97) that changed the annual inflation adjustment factor from the Consumer Price Index (CPI) to a new factor known as ‘chained CPI’. This change was anticipated to slow the rate of changes in all programs under the tax code, including HSAs.

 

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How to check your Flex debit card balance

There are three ways for an employee to check their Flex Visa Card balance:
1. Call our office (1-800-383-1623)
2. Access your online account
3. Use the app, Advanatage Administrators, on your smart phone
Here is some information on how to log onto your Online Portal and what to do if you are locked out.
For ADG –
  • You’ll start from our website, www.AdvantageAdmin.com, and click on “Employee Login” then “MyFlex”

 

  • By entering your username and password, you’ll access your online account. If you haven’t established a MyFlex account, your pre-assigned username is the first initial of your first name followed by your last name followed by your company code, followed by the last four digits of your social security number. Your temporary password is Flexplan*1. Please note that while your username is not case sensitive, the password is.  Once you click on “Log-In” you’ll be asked to set up a set of security questions/answers, change the password, and have the option to change the username, as well. If you have accessed your MyFlex account, but have forgotten your username or password, please feel free to call our office for assistance at 800-383-1623.
For AD2 –
  • You’ll start from our website, www.AdvantageAdmin.com, and click on “Employee Login” then “My1Plan”.

 

  • By entering your username and password, you’ll access your online account. If you haven’t established an online account, your pre-assigned username is the first initial of your first name followed by your last name followed by your company code, followed by the last four digits of your social security number. Your temporary password is Flexplan*1. Please note that while your username is not case sensitive, the password is.  Once you click on “Log-In” you’ll be asked to set up a set of security questions/answers, change the password, and have the option to change the username, as well. If you have accessed your online account, but have forgotten your username or password, please feel free to call our office for assistance at 800-383-1623.
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Legislation Delays Cadillac Tax and Suspends Health Insurer Fee Again

Legislation has once again delayed Cadillac tax and has suspended health insurer fee. The high-cost employer-sponsored health coverage (Cadillac tax) has been delayed until 2022 (tax years beginning after December 31, 2021).

The annual fee on health insurance providers that took effect in 2014 will not apply in calendar year 2019. The fee had previously been suspended for year 2017, but it will apply for year 2018. After the 2019 suspension, the fee should apply again in 2020 as long as there is no further legislation action.

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Closed for Training

Advantage Administrator employees are completing their annual HIPAA compliance training and will be closed on Wed, Jan 17 from 11:45am – 2:15pm.

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New Years

Advantage Administrators will be closed Monday, January 1, 2018 for New Years. Hope everyone has a blessed and happy holiday!

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Holiday Closings

Advantage Administrators will be closed Friday, December 22 and Monday, December 25 for the holidays! Advantage Administrators will open at 9:30 on December, 26. Hope every has a blessed and wonderful holiday!

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Closed for Thanksgiving

Advantage Administrators will be closed Thursday, November 23 and Friday, November 24 for the holidays. Hope everyone has a wonderful Thanksgiving.