Staff Meeting in the Snow

With all of the snowfall last Friday, we decided to have our staff meeting outside and got creative with snow creations!

14 Jan

We know that taking advantage of your HSA or your FSA can be confusing. Thanks to Health Shopper, there is a place you can learn about and shop for HSA and FSA eligible products! When you go to Health Shopper, you can: View an Eligibility List of HSA and FSA eligible products Access HSA and...

12 Jan

HSA & FSA Misconceptions

With so many benefit options, it’s not easy to keep them all straight. Here are some of the common misconceptions around HSAs and FSAs.

8 Jan

5 Surprising Eligible Expenses For Your HSA and FSA

A health savings account (HSA) or medical flexible spending account (FSA) can be used to purchase eligible expenses, and the list of things that are eligible is sizable and growing. For example, as part of a pandemic relief package in March, many over-the-counter (OTC) products that once required a prescription were permanently reinstated as HSA/FSA eligible expenses. Here are five things you may...

7 Jan

HSA Handbook for Every Generation

Health Savings Accounts, or HSAs, are a useful savings tool, no matter your age. For tips about talking to your employees of all ages, check out this HSA Handbook for Every Generation from our partners at Wex Health.

5 Jan

Stacy Jacobs Anniversary

Today we celebrate Stacy Jacobs’ 4-year anniversary working at Advantage Administrators! Happy anniversary Stacy!

30 Dec

Closed New Year’s Day

2020 is finally coming to a close! This is your reminder that the Advantage Administrators office will be closed on Friday, January 1st for New Year’s Day. We will be open again on Monday, January 4th with our normal hours. We wish you health and happiness in the new year!

29 Dec

Wex’s Top 2020 Blog Posts

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 these changes and what they mean to employees. Click here to read the top blog posts of 2020.

29 Dec

Ways You’ll Benefit when Providing a Benefits Card

As an employer, you want to make employee benefits as easy as possible for your staff. Our plans provide your employees with benefits debit cards, loaded with their HSA or FSA funds. These cards have several benefits, including: Ease of use Automatic substantiation Reduced questions from confused employees about how to use benefits

Defined Contributions

A Defined Contribution is an option that can be added on to the Flex Advantage Plan, and is an effective and simple way for an employer to take control of employee benefit costs. The employer selects a set amount of money called a defined contribution that employees can use to enroll in any eligible group health insurance, ancillary insurance, or medical and dependent care reimbursement account. Any amount elected above the defined contribution is payroll deducted from the employee. By offering a Defined Contribution Plan, employers will be able to fix their employee benefits costs while providing a customizable health plan for each individual employee. Employers are no longer required to select a one-size fits all benefits plan for their employees. Download the Defined Contribution Employer Brochure Here.

Benefits of a Defined Contribution

Defined Contribution creates a new level of customization and flexibility
Defined Contribution frees employers from the time and stress that goes with finding and managing their employee’s health care benefits.
Defined Contribution helps make health care costs more transparent to the entire organization.
Defined Contribution makes health care costs more predictable with rising premiums.
Defined Contribution allows employees to select the right plan for themselves. No longer is the employer choosing a plan that is perfect for only a few of their employees.
Defined Contribution relieves the owners and HR (particularly for small businesses) of the burden of figuring out healthcare options.
Defined Contribution insurance packages are offered by Major Health Insurers in Iowa.
Defined Contribution must be run through a Section 125 cafeteria plan, so it is essential to join with the correct partner to work through the intricacies and compliance issues, including the new IRS rules.
Any funds elected above the employer’s defined contribution amount is deducted from the employee’s paycheck pre-tax.

Our Administration Services

Any administrator can propose a plan, but we take our administration the extra mile for you and your employees by providing superior customer service. Advantage Administrators provides the following services for our Defined Contribution Plans.

Documents – SPD, Plan Document, and required notices and forms
On-Site Employee Education and Participant Enrollment
On-line Enrollment Platform
Plan Extensions – 90 Day Run-Out Period with optional Grace Period and $500 FSA Rollover
Debit Cards
Mobile App for Apple or Android

-Claims Administration
-Claims submission via Mobile App, Online Portal, E-mail, Fax, Mail or Drop-Off
-Reimbursements processed daily
-Reimbursement by Direct Deposit, Check, or Debit Card
-E-Mail and text notices of account activity and monthly statements

Employee Account Access

-Available 24/7/365 via Online Portal
-Available 24/7/365 via Mobile App
-Customer Care Department Open Mon-Fri 8:00-5:00

Discrimination and Compliance Testing and Form 5500 if required
Plan Amendments

-Required by Law – Free of Charge
-Employer Requested – Nominal Fee

Legal and Legislative Issues

-Special Memos, Seminars and Roundtables as required

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