Key takeaways – 2025 HSA contribution limits The Internal Revenue Service (IRS) has announced updated Health Savings Account (HSA) contribution limits and High-Deductible Health Plan (HDHP) requirements for 2027. These annual adjustments allow individuals and families to set aside additional tax-advantaged dollars for qualified healthcare expenses. 2026 & 2027 HSA Contribution Limits Coverage Type 2026...
Medical cost trends have risen by 10% since 2022. But the cost trend for Rx is over 17% for the same period. Much of this increase in Rx is due to exploding sales for GLP-1s (such as Ozempic, Wegovy, Zepbound and Rubelsus) for use as weight loss drugs, driving costs to unsustainable levels for both...
Dental expenses can be a significant financial burden, especially when unexpected dental procedures arise. For those who have health savings accounts (HSAs) or medical flexible spending accounts (FSAs), there are opportunities to save money on these expenses. We answer a few common dental-related questions as it relates to your HSA or medical FSA. Can...
Did you recently elect to participate in a medical flexible spending account (FSA)? 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 to take full advantage of their FSA. ...
The season for filing taxes is upon us once again. We’re getting closer to the deadline for filing for 2025. We wanted to share a few tips and reminders about the health savings account (HSA) information you’ll need for your tax return. These will help you get organized and prepared for easy and successful filing....
Saving, investing and retirement planning. These are just three of the perks you’ll experience when you participate in a health savings account (HSA). To be eligible for an HSA, there are only a few requirements, with two of the big ones being that you must be covered by a high-deductible health plan (HDHP), and you...
When managing pre-tax health accounts such as HSAs, FSAs and HRAs, it is easy to assume that all medical expenses automatically qualify for reimbursement. However, some services and products require additional documentation before they are considered eligible. That documentation is called a Letter of Medical Necessity. If you or your employees have ever been asked...
Are you considering signing up for a medical FSA during open enrollment? This video gives you all the information you need to know about medical FSAs.
With COVID-19 still ravaging the country and flu season on the horizon, health experts warn that the U.S. may experience a “twindemic.” A twindemic occurs when two pandemics happen at...
Happy Veteran’s Day! Thank you to all of the heroes, past and present, who have fought to protect our country. Here are a few of our staff’s family members who...
Have you tried our new “Let’s Chat” feature? In the Employee Flex Portal online, you can reach us through chat 24/7/365 to get answers to your questions about your benefits.
Throughout this open enrollment season, we will be posting educational videos about different benefits plans that you may want to take advantage of. This video gives an overview of Health...
Help us wish Jeff Cornforth a happy 5th work anniversary today!
Get out your to-do list, we’ve got something to add to the very top: VOTE! It’s election day! If you haven’t voted early, make sure to make time to get...
Happy Halloween from Advantage Administrators! How are you celebrating the holiday in a COVID-safe way?
The IRS has now released 2021 contribution limits for FSAs, commuter benefits, and more. Below are the contribution limits for 2021. 2021 Medical FSA Contribution Limits 2020- $2,750 2021- $2,750...
Many companies’ healthcare open enrollment happens in December. Start researching now so when the time comes, you can be prepared and knowledgeable about which benefits are best for you and...
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