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...
Health Savings Accounts are wonderful benefits for both employers AND employees. HSAs are only available to those with a high-deductible health plan, which costs less for employers. Contributions made by...
Last week, we were happy to clean out the office while also helping a good cause. All metal was donated to the St. Paul’s Lutheran Church and School’s scrap metal...
If you own or run a business, the benefits plan you choose can have a big impact on the success of your organization. Why? Because more and more, employees are...
The easiest way to learn about, shop for, select, and purchase HSA/FSA eligible retail items. We at Advantage Administrators are pleased to announce the availability of Health Shopper, an e-commerce...
Recently we partnered with Fortress Benefits to collect school supplies to donate to St. Paul’s Lutheran School. Have a great school year!
You don’t have to spend all of your time managing your employee benefits. With the Advantage Administrators app, you can view account balances, submit documents, and check purchase eligibility on...
It’s back to school time, and with it, the time for spending money to get your children ready to learn. As children get older, those expenses can really pile up....
July marks Christina Staton’s 2nd anniversary at Advantage Administrators! She is an integral part of our team, and we admire her dedication to her job.
Congratulations to Bonnie Drenkow on her anniversary at Advantage Administrators! She has helped the company grow and progress for 30 years, and we couldn’t be more thankful for all she...
Both Health Reimbursement Arrangements (HRA’s) and Flexible Spending Accounts (FSA’s) are pre-tax benefits to help pay for medical costs. While both are owned by the employer, they can differ in...
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