One big misconception about Medicare is that it provides free health coverage for enrollees. The reality is that there are many costs seniors routinely face under Medicare, and those costs can climb from year to year.
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A health savings account (an HSA) is a form of tax-advantaged retirement account designed for healthcare spending.
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If you're anticipating that Social Security benefits are going to help cover most of your expenses as a retiree, you're in for a big disappointment.
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Many Americans age 65 and older can't contribute to Health Savings Accounts - at a time when they often incur their highest medical spending.
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Many federal employees can save money by switching to a high deductible health insurance plan with an HSA when they have the chance.
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A recent estimate projects that a retiring couple with high medical expenses will pay more than $360,000 in retirement medical costs.
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You may already know that I track the data needed to make inflation adjustments for Health Savings Accounts from one year to the next.
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A Qualified HSA Funding Distribution, or QHFD, allows for a tax-free transfer from an IRA to your Health Savings Account, or HSA.
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While your health insurance deductible (and the timeline it follows) might not be something you typically think about during the holiday season, it's important to give it some thought.
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Who's covered on your HSA-qualified plan and whose expenses you can reimburse tax free are different.
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Employees over 65 may have to reverse recent HSA contributions.
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A Health Reimbursement Arrangement is usually disqualifying coverage. But not always.
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Why employed Americans with an HSA need to pay attention to Medicare and Social Security enrollment.
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The smart move is to think of your health savings account (HSA) as an extra retirement account.
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Medicare savings accounts (MSAs) and health savings accounts (HSAs) both give consumers tax-advantaged ways to fund the costs of healthcare.
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Medicare open enrollment for 2022 has begun, while Part A is mandatory, some seniors can opt-out of the other parts under certain conditions.
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Making tax-advantaged benefit plans easier to navigate will allow employees to make better use of their benefits.
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In less than 15 years, for the first time, the number of Americans at least 65 years old will be more than the number of Americans under the age of 18.
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The month of October is known for a lot of things, shorter days, cooler temperatures, falling leaves and the arrival of pumpkin spice everything—from baked goods to coffee, yogurt, smoothies, beer—and yes, even pumpkin spice turkey.
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Offering an employer match for both 401(k) accounts and an HSA can increase employee engagement and savings with both accounts.
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