According to the World Health Organization, roughly one in six adults worldwide are affected by infertility. Reasons can vary, which is why wide-ranging fertility benefits can also improve the lives of any adult wanting to start a family. Did you know that a variety of fertility and infertility treatments are eligible for health savings account...
Can you imagine sorting 4,000 rubber ducks? Well, our team did just that for the 26th annual Riverview Centers Duck Derby Race! We completed this project as part of the Waverly Shell Rock United Way Day of Caring on September 13. The race occurs on October 8 at 3 p.m. and is located on the...
Are you preparing to send your kids back to school? You might be surprised to learn that your health savings account (HSA) and medical flexible spending account (FSA) can help you save on a variety of back-to-school, expenses, including: Thermometers You can use your HSA or FSA to purchase a thermometer, which takes on added...
Many companies are recession-planning and looking for ways to cut costs. But employees remain top of mind for employers, with 55% of businesses saying they will not reduce salaries if there is a recession and 47% saying they will not reduce benefits, according to Employee Benefit News. Benefits are critical for attracting and retaining talent....
According to the Human Resource Executive, about half of employees don’t understand their benefits and 80% of employees never even open pieces of communication about their benefits. Often, employees feel confused about their benefits plans options, especially if their employer is using “complicated HR jargon” in their benefits messaging. How can your benefits messaging cater...
Dental expenses can be a significant financial burden, especially when unexpected dental procedures arise. For those who have health savings accounts (HSAs) or medical flexible spending accounts (FSAs), there are opportunities to save money on these expenses. Can I use my HSA or Medical FSA to pay for Dental Expenses? The good news is...
May is Mental Health Awareness Month, an opportunity to raise awareness and reduce stigma surrounding mental health issues in the workplace. With the ongoing COVID-19 pandemic and its impact on our daily lives, mental health awareness is more important than ever before. As an HR representative or benefits decision-maker, you have a responsibility to support...
The IRS requires flexible spending account (FSA) participants to submit documentation to prove their purchase was an eligible expense. The IRS emphasized these requirements and potential penalties for employers who are not meeting the requirements when they released an Office of the Chief Counsel memorandum last week detailing medical expense claim substantiation for medical FSAs...
More employees are enrolling in a high-deductible health plan (HDHP) each year, including more than half of U.S. private-sector workers in 2021 (according to Benefits Pro). Nevertheless, there are still misunderstandings that exist among employees about the significant value of an HDHP (or HSA-eligible health plan) and how it compares to a traditional health plan....
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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