Does your health savings account (HSA) have enough funds to carry you through the second half of the year? If it does, is there more you could be doing to grow those funds? We’ve broken down how to know if you’re contributing enough to your HSA to cover costs for the entire year and whether...
In today’s world, employees seek more than just a paycheck. They desire benefits that cater to their unique needs and offer peace of mind. This is where benefits personalization technology comes into play. Let’s explore how modern technology is revolutionizing benefits personalization and how employers can leverage these advancements effectively. The Value of Personalized...
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Supporting employees throughout their employment lifecycle is essential for improving engagement, loyalty and long-term satisfaction in the workplace. By optimizing employee benefits and creating a supportive environment, employers can enhance the employee experience at every stage of their journey, from onboarding to retirement. This comprehensive guide will help you understand and implement effective employee lifecycle...
May is Mental Health Awareness Month, an opportunity to raise awareness and reduce stigma surrounding mental health issues in the workplace. As an HR representative or benefits decision-maker, you have a responsibility to support your employees’ mental wellbeing. What can employees do to raise mental health awareness in the office, especially during Mental Health Awareness...
Key takeaways – 2025 HSA contribution limits 2025 HSA contribution limits will increase to $4,300 and $8,550 for self-only and family HSAs, respectively. 2025 HDHP minimum deductible and maximum out-of-pocket limits also are increasing. Health savings account (HSA) contribution limits are on the rise again in 2025. The IRS announced that 2025 HSA contribution limits...
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A dependent care flexible spending account (FSA) lets participants set aside pre-tax dollars to help pay for dependent care. Contributing to this benefit reduces taxable income and spreads the benefits of pre-tax dollars throughout the year, helping individuals save 30 percent or more (based on their tax rate) on dependent care costs. Dependent Care...
The season for filing taxes is upon us once again. We’re getting closer to the deadline for filing for 2023. We wanted to share a few tips and reminders about health savings accounts (HSA) you’ll need for your tax return. HSA Tax Prep Checklist Check your W-2 for HSA payroll contributions Get your 1099-SA form...
Open enrollment can be a stressful time for your employees, especially when it hits at the same time as the holidays, and this year, in the midst of a global pandemic.
Take a deep breath and relax- Advantage Administrators is here to help you and your employees navigate the open enrollment process, whether it be in person or virtual.
Here are a few ideas to make your open enrollment process seamless.
Start early
Don’t spring open enrollment on your staff after the enrollment period has already begun. Instead, start sending out emails about a month in advance to let everyone know that it’s time to start thinking about the benefits they’d like to enroll in for next year.
In these emails, include brief information about available plans and benefits, and link out to more information so your employees can continue their research on their own.
Provide information in one place
Gather all of your open enrollment resources and publish them in one place that your employees can access- such as an intranet site. Include downloadable pdfs, explanatory videos, links to additional information, and anything else that may be helpful.
Your Advantage Administrators representative can provide you with these materials upon request.
Designate a Contact
Choose one or two people to be the point people for open enrollment questions. This might be HR staff and/or your Advantage Administrators representative. Make sure all employees know who to direct their questions to and ensure that they have the appropriate contact information for those people.
Keep up the Momentum
Don’t stop after open enrollment is over. Continue to communicate with your employees regarding health insurance and benefits opportunities throughout the year. This keeps employee benefits top of mind so that they will be more prepared when next year’s open enrollment rolls around.
For answers, resources, or more ways to make your open enrollment process simple, contact Advantage Administrators.