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...
As an employer, you want to make employee benefits as easy as possible for your staff. Our plans provide your employees with benefits debit cards, loaded with their HSA or...
Merry Christmas and happy holidays to all of our family and friends! Have a wonderful holiday!
Last night, Congress passed a COVID bill intended to bring much relief to Americans and businesses struggling this year. It includes several provisions that will allow changes to FSAs and additional...
If you have a calendar year health insurance plan with a Flexible Spending Account (FSA), you’re running out of time to use up your FSA funds! FSAs are “use it...
Advantage Administrators will be closed December 24 and December 25 for Christmas and January 1 for New Year’s Day to allow our employees to celebrate with their families. Happy holidays!
We had a white elephant gift exchange today. Each person brought something from their home which started with the first letter of their first name.
Happy Holidays! This year has been difficult for all of us, but with the holiday season comes a renewed sense of hope and joy. All of us at Advantage Administrators...
With COVID-19 still affecting many Americans, you may be wondering if you can use your Health Savings Account or Flex Spending Account to cover COVID-19 costs. This blog post from...
Every Friday, our staff can donate $1 to wear jeans to work. This month, we adopted a family through Cedar Valley Friends of the Family and used the jeans money...
A post-deductible FSA works differently than a medical FSA or a limited medical FSA. This video explains how.
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