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...
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...
Flex spending dollars aren’t just for prescriptions. Check out these surprisingly eligible products on FSAStore.com!
We know that creating an easy-to-use, efficient experience for you is more important than ever. Which is why we are excited to announce that your portal is getting a major...
HSAs can be an incredible savings tool. We’ve got calculators on our website to help you calculate your goals, and to see how your HSA stacks up against a traditional...
Happy birthday to our Benefits Assistant, Jonah Johnson! When he’s not working, he enjoys collecting stamps, coins, and bouncy balls.
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...
The first Friday of every month, staff at Advantage Administrators donates food to the Bremer County Food Bank based on a different theme. In January we donated soup and crackers....
Happy Valentine’s Day, lovebirds!
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