A lot has changed over the last few decades, but the way people save for retirement is still the same. Most stick to a 401(k) or an IRA unless they're self-employed.
Read More
Yes, medical expenses in retirement are daunting. The typical analysis, though, misses the mark by comparing apples to oranges. But you can still do this.
Read More
Seniors represent the largest eligibility gap in the Health Savings Account program. Under current law, the 63 million Americans enrolled in Medicare are automatically disqualified from opening or funding an account.
Read More
As many of you know, I track the data needed to make inflation adjustments for Health Savings Accounts from one year to the next.
Read More
Health Savings Accounts are an ideal vehicle for long-term savings and investment. They're the only account whose owners can escape federal income and payroll taxes and state income taxes (except in California and New Jersey) on contributions, investment gains, and withdrawals.
Read More
Record inflation isn’t just hitting Americans at the supermarket and at the pump. It's also driving up health care costs, and the current spike will have a lasting effect on retirement medical expenses even after inflation returns to normal levels, a new study finds.
Read More
The 2022 tax season is officially underway and now is the time for Americans to increase their health savings by maximizing their HSA contributions.
Read More
Employers can resume covering telehealth for workers with health savings accounts before patients meet costly annual deductibles thanks to a provision in the omnibus spending bill approved by Congress.
Read More
Health Savings Accounts offer tax benefits that no other long-term account can match. But do those additional savings really matter over time?
Read More
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.
Read More
A health savings account (an HSA) is a form of tax-advantaged retirement account designed for healthcare spending.
Read More
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.
Read More
Many Americans age 65 and older can't contribute to Health Savings Accounts - at a time when they often incur their highest medical spending.
Read More
Many federal employees can save money by switching to a high deductible health insurance plan with an HSA when they have the chance.
Read More
A recent estimate projects that a retiring couple with high medical expenses will pay more than $360,000 in retirement medical costs.
Read More
You may already know that I track the data needed to make inflation adjustments for Health Savings Accounts from one year to the next.
Read More
A Qualified HSA Funding Distribution, or QHFD, allows for a tax-free transfer from an IRA to your Health Savings Account, or HSA.
Read More
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.
Read More
Who's covered on your HSA-qualified plan and whose expenses you can reimburse tax free are different.
Read More