What We Do
Administrators, formerly known as R.D. Drenkow & Co., Inc., was founded in
1987 by ERISA attorney Rodney D. Drenkow as an independent employee benefit
consultant and administrator. Our experienced staff can help you establish a
benefit plan that will satisfy the needs of your employees. As an independent
third party administrator, we provide all the services necessary for
tax-favored employee benefit programs, such as: Trust Accounting, IRS
Reporting, Consulting, Documentation and Compliance Testing.
Advantage Administrator plan options include:
- Flex Advantage Plans
Allows employers to offer
tax-free reimbursements of qualified employee medical and/or dependent care
expenses, or allows an employer to offer tax-free benefits to employees by
Flexible Spending Account Plans
Premium Only Plans
- HRA Advantage Plans
Arrangements (HRA), commonly known as a split-funded plan, allow employers to
provide additional medical, dental and vision benefits to a specified group of
employees while lowering insurance premiums.
Basic Bridge Plans
Extreme Bridge Plans
Hybrid Bridge Plans
- Retirement Advantage Plans
the option to use low cost, no-load mutual funds, or use commissioned products
from your own investment broker.
Employee Stock Ownership Plans (ESOPs)
Any administrator can propose
a plan, but we take our administration the extra mile for you and your
employees by providing great customer service. Our knowledgeable staff is
available to personally assist participants and employers. We routinely provide
detailed reports and updates to ensure your plan is heading in the right
direction. We at Advantage Administrators pride ourselves on our ability to
offer quality service in a timely and consistent manner. We are committed to
providing innovative solutions to employee benefit needs. Plan administration
is not just a part of our business; it is our business.
The IRS on October 31, 2013 issued a notice modifying the “use-it-or-lose-it” rule for Cafeteria plan Health Flexible Spending Accounts (heath FSAs). Click here to read the rest of the memo.
October 2013 - Recent IRS Guidance Impacting Health Reimbursement Plans and Cafeteria Plans
IRS Guidance Impacts Health Reimbursement and Cafeteria Plans
Q/A for HRA and Partially Self-Funded Medical Plans
IRS Delays "Pay or Play" Mandate for Employers
Delay in Pay or Play
Optional "PIN" now available for your Benny Benefit Card
Optional "PIN" Available for Benny Benefit Card Q/A
Employer Durbin Amendment Notice with Q/A
Employer Notice Durbin Amendment Q/A
Mobile Apps are available now for Apple and Android Users. Download from your MyFlex Account. Check your balance or file a claim from the convenience of your phone.
The mileage rate for 2013 is 24
cents per mile for medical purposes. This is up 1 cent from the 2012 plan year.
Is your Pharmacy certified to use your Flex Benefit Card? Check here .