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...
This month marks the 11th year that Sue Schlumbohm has been working at Advantage Administrators. We consider ourselves lucky to have her as part of our team! Thanks for all...
Do you wish you had a little more set aside this holiday season to put towards gifts and celebrations? Get a jump start on next year’s nest egg by using...
The Center for Financial Services Innovation has released new research on Americans’ financial health. https://wexhealthinc.com/2018/11/theres-a-new-way-to-test-americans-financial-health-and-its-the-most-comprehensive-yet/?fbclid=IwAR3ldAnAoeu76c7ocfkJkQXF-aLvj3gz5L9Yk_Zi2xY6AkrjLxBhrF5pEgM
This Thanksgiving, the team here at Advantage Administrators is thankful for so much- our clients and participants, our partners and consultants, our employees, and of course, our family and friends....
Many healthcare plans offer the option of putting aside money into a Dependent Care Flexible Spending Account, or DCA. This money isn’t taxed, which could save you as much as...
Use the code “ADVANWEL” to get $10 off your first purchase at FSAstore.com! Share with your friends- anyone can use the coupon code, even if they aren’t Advantage Administrators clients.
Employees taking advantage of a Health Savings Account (HSA) aren’t eligible to also participate in a Flexible Spending Account (FSA). However, they are eligible for a limited FSA- where pre-tax...
We’ve got good news for employees- last week, the IRS increased pre-tax contribution limits for employees with 401(k) plans from $18,500 to $19,000! For more information, contact your Advantage Administrators...
Did you know that as an employer, you can offer your employees a Flexible Spending carryover, so they don’t have to use all of their flex spending before the end...
We had a spooky day on Friday decorating pumpkins!
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