When managing pre-tax health accounts such as HSAs, FSAs and HRAs, it is easy to assume that all medical expenses automatically qualify for reimbursement. However, some services and products require additional documentation before they are considered eligible. That documentation is called a Letter of Medical Necessity. If you or your employees have ever been asked...
Flexible spending accounts (FSAs) provide you with a smart way to save money on healthcare and dependent care expenses (depending on the type of FSA you’re enrolled in). When you participate in an FSA, you’re putting money aside before it is taxed so you can save on eligible expenses. However, you may have a number...
Congratulations, benefits professionals! You’ve accomplished another year’s open enrollment! Whether you survived or thrived, you have an opportunity to lead your organization’s benefit evaluation. It’s time to charge full speed ahead with your open enrollment aftermath strategy. By analyzing what went right and what could be improved, you can help ensure an easier, more effective...
In 2026, the IRS explicitly warned consumers about misleading “FSA Eligible” labels, particularly from companies claiming that general wellness items like meal plans or gym memberships can be converted into medical expenses through “letters of medical necessity” obtained via online questionnaires. Retailer “FSA eligible” badges are not a legal guarantee of reimbursement. Eligibility is...
The medical mileage rate has been reduced for 2026! When an automobile is used to obtain medical care, the mileage rate may be deductible under code § 213 if it is primarily for, and essential to, the medical care. Previously $0.21/mile, it is now $0.205/mile. If you have any questions about these changes, please don’t...
For many, winter is as synonymous with snowflakes as it is with sinus problems. Fortunately, health savings accounts (HSAs) and flexible spending accounts (FSAs) cover many common winter eligible expenses you might turn to this time of year! We’ve compiled a few common seasonal issues and eligible expenses that can help. Dry nasal passages...
Medical flexible spending accounts (medical FSAs) are use-or-lose accounts. There are limits as to whether (or how much of) your employees’ FSA funds can be carried over into the next plan year. How well do your employees understand their FSA’s plan rules? If they don’t, they could risk forfeiting funds to the plan. And any...
Open enrollment performance tracking is important to make sure you have a successful period, ensuring you’re offering your employees the best possible benefits packages and creating a better system for years to come. Communication Engagement Metrics Communication engagement can provide insights into employee satisfaction and level of engagement. If an open enrollment period sees...
Open enrollment is nearly here for many of you. You’re looking to create an atmosphere where employees are engaged, eager to enroll and save money with the benefits you provide. You’ve probably read advice on how to do that, but we’ve got the data to back up a strategy, and it comes directly from your...
Health Savings Accounts are a powerful tool for retirement planning, but we know that sometimes investing can feel intimidating. Planning for retirement can seem overwhelming, but Advantage Administrators is here to make it all a little bit easier.
Healthcare costs are often a major part of retirement expenses, which is why an HSA is important. You can withdraw your HSA funds tax free at any time to pay eligible expenses. Not sure if an expense is eligible? Check out this Eligibility List so that you can get the most out of your HSA.
Advantage Administrators has multiple tools to help educate yourself so that you can feel more confident in your HSA:
options and guides so that you feel ensured in your retirement planning.
These are just a few of the ways that we work to create a responsive service for our customers because your satisfaction is our top priority. Don’t forget you can always contact your Advantage Administrators representative by emailing or calling us at 800-383-1623 to answer any questions about your HSA.
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