Have you recently changed employers? Or are you considering making a change? Fortunately, when you participate in a health savings account (HSA) through your employer, your HSA stays with you. There are plenty of myths about HSAs, so let’s tackle what really happens to your HSA when you change employers. You Have Options HSA...
As we enter another season of open enrollment, one crucial topic is top of mind for many employees: HSA and FSA compliance. Health savings accounts (HSAs) and flexible spending accounts (FSAs) are often misunderstood, despite their significant financial advantages. It’s time to clarify the ins and outs of these tax-saving healthcare accounts and answer HSA...
When it comes to navigating the world of employee benefits, there’s a lot to take in, especially if you’re a first timer. Among the suite of benefits you’re likely to be offered, voluntary benefits are often misunderstood. In this blog we explore all the unknown voluntary benefits terms and bring clarity of information to first-time...
The IRS released 2025 contribution limits for medical flexible spending accounts (medical FSAs), commuter benefits and more as part of Revenue Procedure 2024-40. These limits undergo annual adjustments to account for inflation. 2025 Medical FSA Contribution Limits (including limited and combination FSAs) 2024: $3,200 per year 2025: $3,300 per year 2025 Medical FSA...
If you’re an employer, is your in-house benefits administration team struggling to juggle the multitude of complexities behind running a successful benefits administration program? Are you spending too much time and resources trying to keep up to date with compliance changes and providing the technology and services your employees need for a positive benefits experience?...
Whether you’re transitioning from your parents’ insurance, landed your first full-time job or are simply obtaining coverage for the first time, choosing health plans and employee benefits can be overwhelming. You’ll likely hear a lot of terms and acronyms that you’ve never heard before. For starters, let’s look at a few considerations when evaluating health...
According to the Bureau of Labor Statistics, employers typically pay around 80% of traditional employer-sponsored healthcare plans on behalf of employees. With rising healthcare costs, your business is most likely struggling to solve this key problem: how to maintain financial stability while providing robust benefits to your employees. But what solutions can actually provide benefits...
The concept of work-life balance has become more than just a buzzword; it’s a necessity for employee satisfaction and retention. According to WorkLife.news, employers are increasingly recognizing the importance of providing ample time off to their employees with more than 80% of U.S. employers planning to change their leave policies over the next two years....
Did you know employers can enhance their benefits offerings by incorporating voluntary benefits? What exactly are voluntary benefits and how can employers design an effective plan? We sat down with Hugh McDaniel, manager of channel partnerships at WEX, to get his insights on crafting voluntary benefits plans that meet the diverse needs of employees. ...
Since March, the COVID-19 pandemic caused a lot of changes to the workforce. Now, after nearly a year, Advantage Administrators has identified new wellness trends have emerged that employees may find beneficial.
Integrated Mental Health Offerings
More people than ever have been looking for help for anxiety and depression, both of which affect eating, sleep and employee productivity. Companies may consider adding mental health counseling or telehealth services to employee wellness initiatives to help with this. Employees should take part in this, regardless of their current mental state, as it could be effective preventative care.
Active Meetings
Sure, most meetings should be active in the fact that they buzz with conversation. These active meetings are different. As companies adjust to having remote and in-office employees, one way to encourage company camaraderie is hosting a “get active” meeting. Employees take part in a recurring meeting to get in some physical activity with their coworkers, such as yoga or walking. Working out has myriad health benefits across all aspects of life, making “get active” meetings an excellent choice to take part in.
Activity-Based HSA Contributions
Who doesn’t love getting paid to work out? Some companies have begun offering bonuses for physical activity that are tied to their health savings accounts (HSAs). For example, an employee could earn $1 a day for reaching 10,000 steps, another dollar for seven hours of sleep and an additional dollar for 30 minutes of exercise. These activities would be tracked on employee’s fitness trackers and, if all three were done every day, employees would earn $1,068 per year.
Have questions? For additional resources, contact Advantage Administrators.
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