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...
Flexible spending accounts (FSAs) provide you with a smart way to save money on healthcare and dependent care expenses (depending on the type of FSA you’re enrolled in). When you participate in an FSA, you’re putting money aside before it is taxed so you can save on eligible expenses. However, you may have a number...
Congratulations, benefits professionals! You’ve accomplished another year’s open enrollment! Whether you survived or thrived, you have an opportunity to lead your organization’s benefit evaluation. It’s time to charge full speed ahead with your open enrollment aftermath strategy. By analyzing what went right and what could be improved, you can help ensure an easier, more effective...
In 2026, the IRS explicitly warned consumers about misleading “FSA Eligible” labels, particularly from companies claiming that general wellness items like meal plans or gym memberships can be converted into medical expenses through “letters of medical necessity” obtained via online questionnaires. Retailer “FSA eligible” badges are not a legal guarantee of reimbursement. Eligibility is...
The medical mileage rate has been reduced for 2026! When an automobile is used to obtain medical care, the mileage rate may be deductible under code § 213 if it is primarily for, and essential to, the medical care. Previously $0.21/mile, it is now $0.205/mile. If you have any questions about these changes, please don’t...
For many, winter is as synonymous with snowflakes as it is with sinus problems. Fortunately, health savings accounts (HSAs) and flexible spending accounts (FSAs) cover many common winter eligible expenses you might turn to this time of year! We’ve compiled a few common seasonal issues and eligible expenses that can help. Dry nasal passages...
Medical flexible spending accounts (medical FSAs) are use-or-lose accounts. There are limits as to whether (or how much of) your employees’ FSA funds can be carried over into the next plan year. How well do your employees understand their FSA’s plan rules? If they don’t, they could risk forfeiting funds to the plan. And any...
Open enrollment performance tracking is important to make sure you have a successful period, ensuring you’re offering your employees the best possible benefits packages and creating a better system for years to come. Communication Engagement Metrics Communication engagement can provide insights into employee satisfaction and level of engagement. If an open enrollment period sees...
Open enrollment is nearly here for many of you. You’re looking to create an atmosphere where employees are engaged, eager to enroll and save money with the benefits you provide. You’ve probably read advice on how to do that, but we’ve got the data to back up a strategy, and it comes directly from your...
Have you recently changed employers? Are you considering making a change? Fortunately, when you participate in a health savings account (HSA) through Advantage Administrators, your HSA stays with you. There are plenty...
“I feel socially awkward,” one HR manager at a major medical supply company said at the beginning of a virtual meeting as she described her first few days in the...
Health savings account (HSA) contribution limits will increase considerably in 2023. The IRS announced that 2023 HSA contribution limits will rise to $3,850 for self-only HSAs and to $7,750 for family...
The number of Americans who quit their jobs in 2021 reached record highs. One of the ways to stop the tide of employee departures is through your benefits by implementing...
Participating in a health savings account (HSA) or flexible spending account (FSA) is a great way to save money. Below, we’ve outlined the key differences between an HSA and an...
Since flexible spending accounts (FSAs) are governed by the IRS’ use-it-or-lose-it rule, any unused funds that remain in your account at the end of the year may be forfeited —...
We are a few months into the new year and for most Americans, a new year means setting new financial goals. In fact, almost three-quarters of U.S. citizens had a...
Are you an HSA investor? If you are, then you have a health savings account (HSA). You’ve heard about its investment potential, and you’ve read that an HSA has retirement-planning perks that...
For most of you, a new plan year has begun! Just because you have an entire plan year ahead doesn’t mean you should wait until November or December to put...
A flexible spending account (FSA) lets you save money by setting aside pre-tax dollars to pay for eligible medical, dental, vision and dependent care expenses incurred by you, your spouse,...
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