Does your health savings account (HSA) have enough funds to carry you through the second half of the year? If it does, is there more you could be doing to grow those funds? We’ve broken down how to know if you’re contributing enough to your HSA to cover costs for the entire year and whether...
In today’s world, employees seek more than just a paycheck. They desire benefits that cater to their unique needs and offer peace of mind. This is where benefits personalization technology comes into play. Let’s explore how modern technology is revolutionizing benefits personalization and how employers can leverage these advancements effectively. The Value of Personalized...
New survey results published during Mental Health Awareness Month indicate that a variety of financial and health factors are the top drivers influencing mental health in this country. Money was the top factor at 52%, with personal health and the health of family/friends also ranking among the top four. There are a variety of ways...
Supporting employees throughout their employment lifecycle is essential for improving engagement, loyalty and long-term satisfaction in the workplace. By optimizing employee benefits and creating a supportive environment, employers can enhance the employee experience at every stage of their journey, from onboarding to retirement. This comprehensive guide will help you understand and implement effective employee lifecycle...
May is Mental Health Awareness Month, an opportunity to raise awareness and reduce stigma surrounding mental health issues in the workplace. As an HR representative or benefits decision-maker, you have a responsibility to support your employees’ mental wellbeing. What can employees do to raise mental health awareness in the office, especially during Mental Health Awareness...
Key takeaways – 2025 HSA contribution limits 2025 HSA contribution limits will increase to $4,300 and $8,550 for self-only and family HSAs, respectively. 2025 HDHP minimum deductible and maximum out-of-pocket limits also are increasing. Health savings account (HSA) contribution limits are on the rise again in 2025. The IRS announced that 2025 HSA contribution limits...
If you’re a first-time medical FSA participant, you may not be familiar with FSA definitions and rules. We’ve provided a list of the top things a first-time medical FSA participant should be aware of in order to take full advantage of their FSA. What is a Medical Flexible Spending Account (FSA)? A medical FSA...
A dependent care flexible spending account (FSA) lets participants set aside pre-tax dollars to help pay for dependent care. Contributing to this benefit reduces taxable income and spreads the benefits of pre-tax dollars throughout the year, helping individuals save 30 percent or more (based on their tax rate) on dependent care costs. Dependent Care...
The season for filing taxes is upon us once again. We’re getting closer to the deadline for filing for 2023. We wanted to share a few tips and reminders about health savings accounts (HSA) you’ll need for your tax return. HSA Tax Prep Checklist Check your W-2 for HSA payroll contributions Get your 1099-SA form...
2021 Employee Pandemic Wellness Trends to Watch For
2021 Employee Pandemic Wellness Trends to Watch For
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.