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. ...
Health Savings Accounts, or HSAs, have short-term and long-term perks for participants. As an employer, it can be hard to determine how to position these accounts since your employees needs...
All three portals (Administrator, Employer, and Consumer) and both Mobile Apps (iOS and Android) will be unavailable during the following time: Saturday, March 14, 3:00 p.m. – 12:00 a.m. Midnight...
HSAs can be very powerful investment tools. In order to make the most of yours, keep in mind these pointers: – Determine how much you can afford to invest. –...
For most people, the idea of a health savings account (HSA) or flexible spending account (FSA) can appear confusing, if not a little intimidating. What are they? What types of...
Advantage Administrator’s, Financial Institution, State Bank will be completing a merger with Fidelity Bank & Trust later this week. We will be experiencing a delay with our electronic banking files...
We all know that the new year begins on January 1. But some people may not be aware that when the calendar flips, another important time frame relating to their...
On November 15th, 2018, IR-2018-222 of the Internal Revenue Service (IRS) announced the 2019 annual cost-of-living inflation adjustments, which included increased limits for flexible spending accounts (FSAs), transportation fringe benefits, and qualified...
Your time is important, and never more so than during the holiday season, when family activities, seasonal celebrations, and more can make it difficult to complete important activities like administering...
Just Announced! Yesterday, the IRS announced an increase in the limit for medical Flexible Spending Accounts (FSA) to $2,700 for 2019, up $50 from 2018. This increase will allow those...
As the seasons begin to change and 2018 starts to wind down, we can start looking forward to the new year—and that means reviewing your benefits plan. Every plan varies,...
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