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...
HSAs are not only a great benefit option for your employees, but employers also benefit from offering an HSA. You’ll see lower premiums, and your contributions to employees’ HSAs are...
Work is fun when you work with great people like this! Earlier this month, our staff gathered at Rod and Bonnie’s house for a meal, socializing and a movie- Bohemian...
The first Friday of each month is food bank donation day at Advantage Administrators. Anyone who brings food donations for the Northeast Iowa Food Bank can wear tennis shoes or...
If you’d like to make a purchase using your FSA or HSA, but aren’t sure if it’s eligible, download our app! The Advantage Administrators app has an Eligible Expense Scanner...
Spring is on its way! Don’t forget you can use your FSA to get warm weather essentials like sunscreen and bug spray. Head on over to FSAStore.com today! Use code...
The biggest mistake you can make with your Health Savings Account is not investing your funds to take full advantage of an HSA’s money-earning abilities. Talk to your Advantage Administrators...
Today is Jeff Conrforth’s birthday! Jeff is the janitor, and a very valued team member, here at Advantage Administrators. Happy birthday Jeff!
It’s always exciting to get a tax refund, but many people end up spending it on necessities- such as healthcare they can’t afford during the rest of the year. Consider...
Our staff are helping our janitor put together and set up new cubicles. At Advantage Administrators, staff are like family. We work together to help each other.
Rod Drenkow has achieved Elite status with Ascensus for 2019. As a Signature Elite advisor, his clients will have dedicated access to their award-winning retirement plan service team. We are...
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