In our discussion of Health Savings Accounts (you can see Part 1 here, and Part 2 here), it was mentioned that one possible method for contributing to a HSA is by way of a once-in-a-lifetime tax-free transfer from an IRA. The question is: Does this make sense? When would you want to use this one-time [...]
Posts under ‘health insurance’
Health Savings Accounts – The Basics, Part 2
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In Part 1 of this two-part article, we introduced the concept of the Health Savings Account. In this portion, we’ll talk about some more of the specifics with regard to implementation of the plan, including contribution limits, setting up the plan, and taking distributions.
Contribution Limits on the HSA
The amount that you can contribute to a [...]
The High Deductible Health Plan
In order to use a Health Savings Account (HSA), one of the requirements is that you have a High Deductible Health Plan (HDHP) in force. A HDHP is simply a special sort of medical insurance policy with some very particular components. Specifically, those components are: a) a higher annual deductible than most typical health plans; [...]
Health Savings Accounts – The Basics, Part 1
A Health Savings Account (HSA) is a tax-exempt trust or custodial account that you set up with a bank or other US financial institution which allows you to pay or be reimbursed for qualified medical expenses. The HSA must be used in conjunction with a High Deductible Health Plan (HDHP). The HSA can be established [...]
Health-Care Reform
Confused by the ongoing health-care reform debate? If so, you’re not alone. With multiple bills and proposals in play, it’s often hard to get a grasp on even the most basic elements of the discussion. While the outcome of the debate is uncertain, here are some of the major issues that are being discussed.
Universal vs. [...]
Medicaid and Retirement Accounts
Statistics are telling us that approximately 25% of us will need some sort of extended long-term nursing care during our lives – and as our life spans increase with improvements in medical care, this number is likely to go up.
Most of us have had situations with family or friends where we’ve witnessed this firsthand – [...]
4 Things to Consider About Healthcare in Retirement
As we all are painfully aware, the costs and complexity of healthcare are skyrocketing, and nothing seems to be slowing things down. Granted, it seems like the present administration is making overtures to give the appropriate attention to the problem, but… as we all know, paths to places we don’t want to go are paved [...]
