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...
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...
The recent CARES Act enacted by the U.S. government includes updates regarding FSA and HSA eligible items. The eligibility lists on FSAStore.com and HSAStore.com have been updated to reflect these...
Getting bummed out being in quarantine? The pets of Advantage Administrators employees are here to cheer you up!
Have you filed your taxes yet? If you have an HSA, follow this checklist to ensure you file correctly. For more information, contact your Advantage Administrators representative. If you...
Be safe and be well, from your friends at Advantage Administrators. #HeartHunters
Advantage Administrators will be closed the afternoon of Friday, April 10, 2020 for the Easter holiday.
Spring is in the air! It’s time for sunshine, green grass, and…allergies. Get everything you need for allergy relief using your employee benefits at FSAStore.com or HSAStore.com!
Bonnie and her granddaughter, Leah, made homemade disinfectant wipes for the office. The recipe is in the photos if you want to make some too!
Over-the-Counter (OTC) medications (such as Tylenol and Flonase) are once again “qualified medical expenses” for Health Flexible Spending Accounts and Health Savings Accounts thanks to the CARES Act stimulus bill...
Some employers have asked whether they can extend the deadline for employees to file flexible spending account claims. Most plans required employees to file claims within three months of the...
The IRS announced yesterday that 2019 HSA Contributions will be accepted up to the filing deadline of July 15, 2020. The guidance was issued as a follow up to IRS...
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