bethNewsPOsIMT18

5 Smart Ways to Reduce Healthcare Expenses

5 Jun

How Does an FSA Work for Participants?

2 Jun

Health Savings Account (HSA) Contribution Limits Increase for 2027

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...

13 May

GLP-1 HRAs

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...

22 Apr

Your Dental Expense Eligibility for an HSA or FSA

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...

10 Apr

Six Things to Know if You’re a First-Time Medical FSA Participant

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. ...

25 Mar

Your HSA and Your Tax Return – Four Tips for Filing

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....

12 Mar

Why Adding an FSA Makes an HSA Even Better

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...

26 Feb

Understanding Letters of Medical Necessity for HSAs FSAs and HRAs

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...

Ugly Sweater Day

December 19, 2019 8:35 am Published by bethNewsPOsIMT18 Comments Off

We had so much fun getting into the holiday spirit on ugly Christmas sweater day!

Paying for Out-of-Pocket Medical Expenses While Maximizing Your HSA

December 17, 2019 9:01 am Published by bethNewsPOsIMT18 Comments Off

HSAs are a great way to help defray the ever-increasing cost of healthcare for those who are eligible to participate. But did you know that HSA participants can be largely...

Deer Hunting

December 13, 2019 8:20 am Published by bethNewsPOsIMT18 Comments Off

Since it’s deer hunting season, we decided to go “deer hunting” in the office- complete with hunting attire!

What Sue Loves about Working at Advantage Administrators

December 10, 2019 9:19 am Published by bethNewsPOsIMT18 Comments Off

Sue’s favorite part of her job is the variety and the family-like atmosphere.

Happy Thanksgiving!

November 28, 2019 9:05 am Published by bethNewsPOsIMT18 Comments Off

Happy Thanksgiving! Enjoy this day with loved ones.

Three Ways to Make the Most of Your HSA Investments

November 25, 2019 12:46 pm Published by bethNewsPOsIMT18 Comments Off

So you have a Health Savings Account (HSA)…Now what? Now it’s time to make it work for you. You already know that contributions are tax-deductible and that earnings and qualified...

Closed for Thanksgiving

November 25, 2019 8:31 am Published by bethNewsPOsIMT18 Comments Off

Advantage Administrators will be closed Thanksgiving and the day after so our staff can spend time with their families. We will be back in the office Monday, December 2nd. Have...

Fun Sock Day

November 21, 2019 8:39 am Published by bethNewsPOsIMT18 Comments Off

Bonnie brought back candy-themed socks from her Hershey vacation, so we had fun sock day at the office!

Do You Need A Prescription for Antacids?

November 20, 2019 9:03 am Published by bethNewsPOsIMT18 Comments Off

Holiday meals can leave you feeling less than perfect. So, what do you think- do you need a prescription to purchase antacids using your FSA or HSA? As it turns...

You Have an HSA- Now What?

November 14, 2019 8:48 am Published by bethNewsPOsIMT18 Comments Off

You have an HSA… now what? Make it work for you! Your contributions are tax-deductible, and you can invest the money in your account to help it grow even faster....

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