Have you recently changed employers? Or are you considering making a change? Fortunately, when you participate in a health savings account (HSA) through your employer, your HSA stays with you. There are plenty of myths about HSAs, so let’s tackle what really happens to your HSA when you change employers. You Have Options HSA...
As we enter another season of open enrollment, one crucial topic is top of mind for many employees: HSA and FSA compliance. Health savings accounts (HSAs) and flexible spending accounts (FSAs) are often misunderstood, despite their significant financial advantages. It’s time to clarify the ins and outs of these tax-saving healthcare accounts and answer HSA...
When it comes to navigating the world of employee benefits, there’s a lot to take in, especially if you’re a first timer. Among the suite of benefits you’re likely to be offered, voluntary benefits are often misunderstood. In this blog we explore all the unknown voluntary benefits terms and bring clarity of information to first-time...
The IRS released 2025 contribution limits for medical flexible spending accounts (medical FSAs), commuter benefits and more as part of Revenue Procedure 2024-40. These limits undergo annual adjustments to account for inflation. 2025 Medical FSA Contribution Limits (including limited and combination FSAs) 2024: $3,200 per year 2025: $3,300 per year 2025 Medical FSA...
If you’re an employer, is your in-house benefits administration team struggling to juggle the multitude of complexities behind running a successful benefits administration program? Are you spending too much time and resources trying to keep up to date with compliance changes and providing the technology and services your employees need for a positive benefits experience?...
Whether you’re transitioning from your parents’ insurance, landed your first full-time job or are simply obtaining coverage for the first time, choosing health plans and employee benefits can be overwhelming. You’ll likely hear a lot of terms and acronyms that you’ve never heard before. For starters, let’s look at a few considerations when evaluating health...
According to the Bureau of Labor Statistics, employers typically pay around 80% of traditional employer-sponsored healthcare plans on behalf of employees. With rising healthcare costs, your business is most likely struggling to solve this key problem: how to maintain financial stability while providing robust benefits to your employees. But what solutions can actually provide benefits...
The concept of work-life balance has become more than just a buzzword; it’s a necessity for employee satisfaction and retention. According to WorkLife.news, employers are increasingly recognizing the importance of providing ample time off to their employees with more than 80% of U.S. employers planning to change their leave policies over the next two years....
Did you know employers can enhance their benefits offerings by incorporating voluntary benefits? What exactly are voluntary benefits and how can employers design an effective plan? We sat down with Hugh McDaniel, manager of channel partnerships at WEX, to get his insights on crafting voluntary benefits plans that meet the diverse needs of employees. ...
In general, changes can only be made to your insurance plans at the start of a new year. However, there are a few instances where mid-year election changes are allowed,...
It’s officially summer! Buy your summertime essentials using your FSA or HSA. These items are all eligible, although some require a doctor’s prescription. Sunscreen Bug spray Sunburn creams Lip balm...
In June of 1987, Rod Drenkow founded Advantage Administrators (then known as R.D. Drenkow & Co., Inc.). Help us in congratulating Rod and Advantage Administrators on 32 fantastic years serving...
It’s easy to purchase prescription glasses with your flex spending account. Simply visit the FSA Store website to order online.Use code “CBAA5” to get $5 off today! http://bit.ly/2q2LafK
Technology has made it easier to communicate with friends around the world, access virtually unlimited information, and even streamline your employee benefits process. With HR software, benefits administrators like us...
Health Savings Accounts are a great way to set aside money to cover large or unexpected medical costs. However, they can be a great way to save money and build...
Some companies renew their benefits plans mid-year. That means your open enrollment period may be coming up. To find out for sure, talk to your employer or your Advantage Administrators...
Learn more about IRS 2020 HSA contribution limits here! New: IRS Announces HSA and HDHP Contribution Limits for 2020
Earlier this month, Bonnie and Fawn attended the WexHealth Spark Conference in sunny Miami, Florida. The focus was on health benefits including HSAs, FSAs, and HRAs. They met other TPAs...
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