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...
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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