FSA for CPAP Supplies

Sleep apnea sufferers- did you know you can buy CPAP cleaning supplies with your FSA funds? For that and any other FSA purchase, visit FSAStore.com and use code “ADVANWEL” to get $10 off your first purchase!

9 Jul

Help Your Employees Achieve Financial Wellness

Over three quarters of all Americans admit to sometimes being stressed about their finances, with 30% of Americans saying they’re “constantly” stressed about money. With so many of your employees feeling the same burden, your company’s productivity is likely to suffer. Consider taking steps to help encourage the financial wellness of your employees by providing...

4 Jul

Happy Independence Day!

Happy 4th of July from your friends at Advantage Administrators!

2 Jul

Mid-Year Election Changes

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, such as: Marriage or divorce Change in number of dependents Change in employment status Change in residence Entitlement to Medicare or Medicaid Reduction of hours...

27 Jun

Advantage Administrators Benefits Suite

25 Jun

Eligible Summer Expenses

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 First aid kits Bandages

20 Jun

Congratulations Rod and Advantage Administrators!

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 Waverly and the Cedar Valley!

13 Jun

Buy Prescription Glasses with your FSA

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

11 Jun

How Technology has Changed the Employee Benefits Process

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 can quickly and easily set up open enrollment and plan renewals. You can visit our website or the Advantage Administrators app to get quick answers...

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

Get Help From The Experts Today Contact Us

Latest News