Some people who borrowed or withdrew funds from their workplace retirement accounts in 2020 took out more than they needed, thereby unnecessarily paying additional taxes and depleting their balances. Some had another option.
Read More
Your Health Savings Account doesn't die when you do. But what happens to it when you're no longer alive?
Read More
Now that Congress and the president have passed the nation's largest single spending bill ever (the American Relief Plan Act) and President Biden has proposed an additional $2 trillion in a bill that includes some infrastructure improvements and additional federal spending targeted at specific industries, the next big project in Washington DC may be healthcare reform.
Read More
You can roll over funds from an Individual Retirement Arrangement to a Health Savings Account. The rollover delivers some important benefits, but be sure to weigh the hidden costs before you decide to proceed.
Read More
HSA-qualified medical plans can be designed as HMOs, POS plans, or PPOs. Which is best? It depends on several factors, including state regulations and market norms.
Read More
The next two weeks are crucial for healthcare legislation, as the 116th Congress proposes probably its last major bill prior to the November election.
Read More
Although Health Savings Accounts are personal financial accounts, they do affect the family. And the family can affect the account. Let's examine how a spouse can boost the benefits that you derive from your Health Savings Account . . . or derail your best-laid financial plans.
Read More
Under current law, anyone enrolled in any part of Medicare is disqualified from making or receiving contributions to a Health Savings Account. This provision hurts working seniors with lower incomes and those working for small companies (who typically are lower-paid).
Read More
You’re a month away from your milestone 65th birthday, and life is good. You remain at work and plan to do so for several more years, whether because you love what you do or you fear your retirement savings won’t cover the lifestyle that you want to live.
Read More
Let’s create a scenario: Your family of four has just won a seven-day vacation to a popular theme park. The prize was advertised as paying for your air transportation, housing, and two meals a day, as well as a $1,500 cash for admission tickets, daily lunch, and souvenirs.
Read More