Administering your FSA, HSA and HRAs has never been easier!

Advanced Administration™ takes your FSA, HSA and/or HRA and turns them into a painless experience for you to provide. We handle all the administration of the plans in house with seasoned experts. Your employees can count on a qualified person at the ready when they have questions or concerns.

We know that having the best experience possible is critical to your employee’s satisfaction of the plans you offer. The Advanced Administration™ team keeps your company Ahead of the Curve in employee satisfaction with the benefits you provide.

Flexible Spending Account (FSA)

An FSA with Advanced Benefits Management allows an employee to set aside a portion of their earnings to pay for qualified expenses, most commonly for medical expenses but FSAs can be designed for dependent care or other expenses. Employees will see a significant tax savings as the account is funded with pre-tax dollars from their paycheck.

By taking funds pre-tax from their paycheck, employees will also end up with a lower taxable amount and as a result, pay fewer taxes.

The two types of accounts thatare available are:

• Medical Spending Account - pays for medical expenses not covered by insurance.
• Dependent Care Spending Account - pays for dependent care for children and/or a disabled dependent.

Health Savings Account (HSA)

An HSA is an individual health savings account which is owned by the employee and may be used for the payment of allowable current and future medical expenses. Individuals and/or employers can make pre-tax contributions in amounts equal to established limits.

HSA funds are fully vested and may be carried over from year to year, and HSAs are portable from employer to employer. HSAs must be used in conjunction with an HSA-Qualified High Deductible Health Plan (HDHP). One of the most beneficial things to your employees is that the funds are not subject to taxation as the account grows, or when it is used to pay for eligible medical expenses.

Health Reimbursement Arrangement (HRA)

An HRA from Advanced Benefits Management gives you a fresh approach to benefit offerings. An HRA is an account funded by you, the employer, which your employees can use for eligible out-of-pocket medical expenses.

These accounts also provide you the benefit of being tax deductible. In addition to that, for your employees, these funds are tax-free when used on eligible medical expenses.

Providing an HRA, coupled with a High Deductible Health Plan (HDHP), results in a cost-efficient plan for employers and empowers the employee to take a more active role in their health care benefits.