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...
We are kicking off the weekend and supporting our favorite area teams today. A special shout out to our staff children representing the Waverly-Shell Rock Go-Hawks, Clarksville Indians, Oelwein Huskies,...
When it comes to eligible FSA purchases, there are more options than you may think. Check out the FSA Store – an online shop that only sells item you can...
2020 was a year unlike any other, and it affected everything- including open enrollment. As we gear up for this year’s open enrollment, here are some things to keep in...
Lisa and Fawn were at a informational meeting yesterday and spotted this sign. “Kind Words Cost Nothing”- a good reminder!
Curious on whether you should choose a health savings account? Advantage Administrators’ Fawn Wiebke chose to open an HSA for its excellent tax savings benefits. Hear it from Fawn herself...
It’s almost time for school to start up again, and area schools are always in need of donations for pencils, paper, tissues, disinfect wipes, and other supplies. We did a...
Back to school is right around the corner. Is your first aid kit prepped? Be sure to stock up on Band-Aids, Neosporin and gauze using your HSA or FSA funds!
This week we celebrated Cathy’s 50th birthday! Happy birthday Cathy, and thank you for all you do for us and our members.
Struggling to find and retain talent? It could be because of your employee benefits. Check out this article by the Harvard Business Review about the benefits employees really want –...
Use your FSA funds to stock up on back-to-school essentials like pain medicine, orthopedic braces, contact solution, and more!
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