Have you recently changed employers? Or are you considering making a change? Fortunately, when you participate in a health savings account (HSA) through your employer, your HSA stays with you. There are plenty of myths about HSAs, so let’s tackle what really happens to your HSA when you change employers. You Have Options HSA...
As we enter another season of open enrollment, one crucial topic is top of mind for many employees: HSA and FSA compliance. Health savings accounts (HSAs) and flexible spending accounts (FSAs) are often misunderstood, despite their significant financial advantages. It’s time to clarify the ins and outs of these tax-saving healthcare accounts and answer HSA...
When it comes to navigating the world of employee benefits, there’s a lot to take in, especially if you’re a first timer. Among the suite of benefits you’re likely to be offered, voluntary benefits are often misunderstood. In this blog we explore all the unknown voluntary benefits terms and bring clarity of information to first-time...
The IRS released 2025 contribution limits for medical flexible spending accounts (medical FSAs), commuter benefits and more as part of Revenue Procedure 2024-40. These limits undergo annual adjustments to account for inflation. 2025 Medical FSA Contribution Limits (including limited and combination FSAs) 2024: $3,200 per year 2025: $3,300 per year 2025 Medical FSA...
If you’re an employer, is your in-house benefits administration team struggling to juggle the multitude of complexities behind running a successful benefits administration program? Are you spending too much time and resources trying to keep up to date with compliance changes and providing the technology and services your employees need for a positive benefits experience?...
Whether you’re transitioning from your parents’ insurance, landed your first full-time job or are simply obtaining coverage for the first time, choosing health plans and employee benefits can be overwhelming. You’ll likely hear a lot of terms and acronyms that you’ve never heard before. For starters, let’s look at a few considerations when evaluating health...
According to the Bureau of Labor Statistics, employers typically pay around 80% of traditional employer-sponsored healthcare plans on behalf of employees. With rising healthcare costs, your business is most likely struggling to solve this key problem: how to maintain financial stability while providing robust benefits to your employees. But what solutions can actually provide benefits...
The concept of work-life balance has become more than just a buzzword; it’s a necessity for employee satisfaction and retention. According to WorkLife.news, employers are increasingly recognizing the importance of providing ample time off to their employees with more than 80% of U.S. employers planning to change their leave policies over the next two years....
Did you know employers can enhance their benefits offerings by incorporating voluntary benefits? What exactly are voluntary benefits and how can employers design an effective plan? We sat down with Hugh McDaniel, manager of channel partnerships at WEX, to get his insights on crafting voluntary benefits plans that meet the diverse needs of employees. ...
The IRS has announced that amounts paid for personal protective equipment (PPE) for the primary purpose of preventing the spread of COVID-19 – such as masks, hand sanitizers, sanitizing wipes...
Advantage Administrators will be closing at noon tomorrow, Friday, April 2nd, for Good Friday. We will resume regular business hours on Monday. Have a great Easter!
Are your employees using their Health Savings Accounts to their greatest potential? Make sure they know the full range of benefits an HSA can offer by explaining retirement-planning potential, offering...
Last week during spring break we celebrated chip and dip day at the office!
Are you investing in a health saving account (HSA)? Only 5% of HSA participants invest their funds, but all profits are tax-free and grow faster than a 401(k) or IRA....
Happy St. Patrick’s Day!
Health Savings Accounts (HSAs) are one of the best ways to save for retirement or future medical expenses. Many employees don’t fully understand HSAs, and that may be holding them...
The staff at Advantage Administrators are active in the community. In this photo from the Waverly Democrat’s March 4 paper, our janitor, Jeff Cornforth, and his daughter are working at...
Your mission: To build a nest egg of $175,000 for healthcare costs in retirement. How are you going to get there? Great question. It’s a big goal! But it’s achievable....
Although high-deductible health plans (HDHPs) can sound intimidating, they can be part of a benefits plan pair that can have a significant impact on your retirement savings. By coupling an...
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