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...
The IRS announced yesterday that 2019 HSA Contributions will be accepted up to the filing deadline of July 15, 2020. The guidance was issued as a follow up to IRS...
Missing March Madness? We’ve put together an FSA-eligible expense bracket instead! Which of these eligible expenses would win your bracket?
We have received a number of questions concerning how temporary employee furloughs or reductions in hours because of the COVID-19 virus affects Cafeteria plan benefits. Click here for a general...
Our receptionist, Paula, became a grandma for the first time this week. Congratulations Paula!
As concern grows around COVID-19 (coronavirus), Advantage Administrators wants to ensure our clients, that you and our employees health and safety is our top priority. Our management team is closely...
Those with an HSA have to take a few additional steps when filing taxes. Follow our checklist to ensure you don’t miss anything. If you have an HSA, before...
Testing and treatment for COVID-19 will now be covered by high-deductible health plans prior to those covered by such plans meeting their deductible, thanks to new guidance from the IRS....
Meet our final spring intern, Abu Conteh! Abu is a senior at Wartburg majoring in Business Administration with an economics and finance concentration. He plans to attend grad school in...
March is National Nutrition Month! Consider sharing these nutrition tips with your employees to promote a healthy team. Eat fruits, veggies, and protein for breakfast, and never skip it. Cut...
Fawn has been at Advantage Administrators for over 21 years. She likes working with different employers across Iowa and the Midwest.
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