Spring is in the air! But so are dust and pollen and mold spores (oh, my!), which cause a host of sinus and allergy problems for millions of Americans. But if you have a Health Savings Account (HSA) or a Flexible Spending Account (FSA) from Advantage Administrators, you can use those funds to help you...
Advantage Administrators will be closed on Monday, May 25th in observance of Memorial Day.
On May 21, 2020 the IRS announced new HSA contribution limits. In 2021, the self-only contribution limit will rise from $3,550 in 2020 to $3,600. The family contribution limit will rise from $7,100 in 2020 to $7,200. The IRS also announced 2021 high-deductible health plan amounts and expense limits: If you have questions or need...
We’re still limiting the number of people in our office at once. We’d like to introduce you to Platoon Two, which works 10:15 am-5 pm: Fawn, Stacy, Sue, Christina, and Phephile.
Sarah loves working at Advantage Administrators because of the small company feel and involvement in the community.
When you participate in a Health Savings Account (HSA) and/or Flexible Spending Account (FSA), you’re able to contribute pre-tax funds for use on hundreds of eligible expenses. Recently, you gained even more flexibility in your ability to save when the CARES Act was signed into law. This new legislation expanded the list of expenses that are considered eligible...
The CARES Act was signed into law on Friday, March 27th, 2020 as an additional piece of legislation crafted to help Americans during the COVID-19 pandemic. For your convenience, we’ve outlined a few of the highlights below: • OTC (over-the-counter) products as eligible expenses. The CARES Act permanently reinstated over-the-counter products as eligible expenses for...
Struggling to keep your kids occupied while they’re out of school? Remember that Dependent Care FSAs let you set aside up to $5,000 for daycare expenses like preschool, after-school care, daycare, and summer day camps!
A Flex Plan allows a participant to set aside dollars each year from their paycheck to pay for qualified health and dependent care expenses through a Section 125 Cafeteria Account. These dollars are deducted from wages before any income or social security taxes are paid. By using this tax savings plan, participants will notice an increase in take home pay and have access to a reimbursement account throughout the year to pay for qualified expenses. Employers will not have to pay FICA or FUTA taxes on dollars run through the plan. Additionally, employers have the option of adding on a defined contribution plan set-up and an online enrollment tool.
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 Flex Plans.
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