Does your health savings account (HSA) have enough funds to carry you through the second half of the year? If it does, is there more you could be doing to grow those funds? We’ve broken down how to know if you’re contributing enough to your HSA to cover costs for the entire year and whether...
In today’s world, employees seek more than just a paycheck. They desire benefits that cater to their unique needs and offer peace of mind. This is where benefits personalization technology comes into play. Let’s explore how modern technology is revolutionizing benefits personalization and how employers can leverage these advancements effectively. The Value of Personalized...
New survey results published during Mental Health Awareness Month indicate that a variety of financial and health factors are the top drivers influencing mental health in this country. Money was the top factor at 52%, with personal health and the health of family/friends also ranking among the top four. There are a variety of ways...
Supporting employees throughout their employment lifecycle is essential for improving engagement, loyalty and long-term satisfaction in the workplace. By optimizing employee benefits and creating a supportive environment, employers can enhance the employee experience at every stage of their journey, from onboarding to retirement. This comprehensive guide will help you understand and implement effective employee lifecycle...
May is Mental Health Awareness Month, an opportunity to raise awareness and reduce stigma surrounding mental health issues in the workplace. As an HR representative or benefits decision-maker, you have a responsibility to support your employees’ mental wellbeing. What can employees do to raise mental health awareness in the office, especially during Mental Health Awareness...
Key takeaways – 2025 HSA contribution limits 2025 HSA contribution limits will increase to $4,300 and $8,550 for self-only and family HSAs, respectively. 2025 HDHP minimum deductible and maximum out-of-pocket limits also are increasing. Health savings account (HSA) contribution limits are on the rise again in 2025. The IRS announced that 2025 HSA contribution limits...
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 in order to take full advantage of their FSA. What is a Medical Flexible Spending Account (FSA)? A medical FSA...
A dependent care flexible spending account (FSA) lets participants set aside pre-tax dollars to help pay for dependent care. Contributing to this benefit reduces taxable income and spreads the benefits of pre-tax dollars throughout the year, helping individuals save 30 percent or more (based on their tax rate) on dependent care costs. Dependent Care...
The season for filing taxes is upon us once again. We’re getting closer to the deadline for filing for 2023. We wanted to share a few tips and reminders about health savings accounts (HSA) you’ll need for your tax return. HSA Tax Prep Checklist Check your W-2 for HSA payroll contributions Get your 1099-SA form...
We got the shot! At Advantage Administrators, we’re doing our part to stop the spread of COVID-19. Several of our employees have already gotten the vaccine.
Since March, the COVID-19 pandemic caused a lot of changes to the workforce. Now, after nearly a year, Advantage Administrators has identified new wellness trends have emerged that employees may...
Because of the COVID-19 pandemic, 2020 brought many changes to employee benefits rules and regulations. Wex Health has gathered its top 10 blog posts of 2020, many of which explain...
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...
With COVID-19 still ravaging the country and flu season on the horizon, health experts warn that the U.S. may experience a “twindemic.” A twindemic occurs when two pandemics happen at...
The COVID-19 pandemic has changed our lives in many ways, including how we think about our healthcare benefits. WEX’s annual healthcare survey in June found that HSA contributions have increased,...
If you were hoping to use your FSA or HSA to purchase hand sanitizer, you’re out of luck. Hand sanitizer is not eligible for reimbursement with an FSA or HSA.
One of the questions we’ve been getting a lot is are face masks HSA and FSA eligible? Here’s the answer: disposable face masks are not an eligible FSA expense unless...
When you participate in a Health Savings Account (HSA) and/or Flexible Spending Account (FSA), you’re able to contribute pre-tax funds for use on hundreds of eligible expenses. Recently, you gained even more...
The CARES Act was signed into law on Friday, March 27th, 2020 as an additional piece of legislation crafted to help Americans during the COVID-19 pandemic. For your convenience, we’ve...
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