Podcasts about hdhp

Every lifeguard learns the same thing before they are allowed near the water. You do not swim into someone's arms. A panicking person will climb you, and then there are two people in trouble instead of one, so you bring something that floats and you keep it between you. Nobody watching from the sand thinks the lifeguard is being stingy about it. This week we talk about aging parents who are running out of money, and what a physician's household has to keep standing while it helps. We also answer your colleagues' questions. A Surgeon in Pennsylvania says, “I currently have a HDHP with an HSA and contribute the family amount since my son is also on my insurance. He will drop off mid-year and I will then have single coverage. Does this affect my HSA contributions?” A Urologist in Minnesota wonders, “Our oldest starts college next fall and the 529 has more in it than I expected. How do we actually spend it, and do we tell him what's in there?” A Radiologist in Illinois asks, “I inherited an after-tax retirement annuity from my dad. What is it?” Are you ready to turn worries about taxes and investing into a plan for college and retirement? If you're evaluating your options and want to learn more, visit physicianfamily.com and click 'Get Started' or you can ask a question of your own by emailing podcast@physicianfamily.com. See marketing disclosures at physicianfamily.com/disclosures

Hear money lessons from NerdWallet moms and learn how to budget for healthcare on a high-deductible plan. What does motherhood teach you about money? In honor of Mother's Day, hosts Sean Pyles, CFP®, and Elizabeth Ayoola gather money lessons from NerdWallet moms — including Erin El Issa, Amanda Barroso, Kate Ashford, and Pamela de la Fuente — as well as from Sean's mom, Jeanne. They explore the pressure to keep up with influencers and other parents, the costly belief that core childhood memories can be bought, the role allowances play in helping kids feel the weight of their own money, and what becoming a parent reveals about long-term saving. How do you budget for healthcare when your employer switches you to a high-deductible plan and bills are coming in faster than you can build up your HSA? Sean and Elizabeth are joined by personal finance writer Kate Ashford to answer a question from a listener whose routine doctor visit ballooned from a $30 quote to nearly $500 out of pocket. They dig into the triple tax advantages of HSAs, the math behind comparing high-deductible and traditional coverage, why the first year on an HDHP can feel especially brutal, and what to do when medical expenses outpace your savings. Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Did you know that if you have a high-deductible health plan, some services like immunizations and screenings are free (even if you haven't met your deductible)? Or that you might be able to invest the money in your HSA? This episode, KFF Health News reporter Jackie Fortiér shares tips on getting the most out of your HDHP.Have a question about navigating the health care system? Contact us here and you might be part of an upcoming episode of Health Care Helpline.Follow us on Instagram: @nprlifekitSign up for our newsletter here.Have an episode idea or feedback you want to share? Email us at lifekit@npr.orgSupport the show and listen to it sponsor-free by signing up for Life Kit+ at plus.npr.org/lifekitSee pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

Did you know that if you have a high-deductible health plan, some services like immunizations and screenings are free (even if you haven't met your deductible)? Or that you might be able to invest the money in your HSA? This episode, KFF Health News reporter Jackie Fortiér shares tips on getting the most out of your HDHP.Have a question about navigating the health care system? Contact us here and you might be part of an upcoming episode of Health Care Helpline.Follow us on Instagram: @nprlifekitSign up for our newsletter here.Have an episode idea or feedback you want to share? Email us at lifekit@npr.orgSupport the show and listen to it sponsor-free by signing up for Life Kit+ at plus.npr.org/lifekitSee pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

Medical costs and insurance premiums keep going up. Fortunately, there are some steps you can take to minimize the effects of rising costs. This tip will discuss how Health Savings Accounts (HSAs) can help you manage some of those expenses and save money.   Links: Learn more about Tringle's Health Savings Accounts Check out TCU University for financial education tips and resources! Follow us on Facebook, Instagram and Twitter! Learn more about Triangle Credit Union Transcript: Welcome to Money Tip Tuesday from the Making Money Personal podcast.  Let's start by explaining what an HSA is. HSA stands for Health Savings Account and is very similar to a personal savings account, but money saved in the account must be used to pay for health care expenses (there is an exception to that, which will be covered in a bit). The good news is this is your money, so you get to control how the funds are spent and for which medical expenses.     You can open an HSA if you have a high-deductible health plan (HDHP). You can't if you're on Medicare, TRICARE, TRICARE for Life, or are listed as someone else's dependent for taxes. If you're self-employed and have an HDHP, you can get an HSA. If you switch jobs, your HSA stays with you.   Since we've discussed high-deductible health plans, let's define an HDHP. In 2026, the IRS sets the minimum deductible at $1,700 for individuals or $3,400 for families. The total yearly out-of-pocket costs, including deductibles, copays, and coinsurance, cannot exceed $8,500 for individuals or $17,000 for families.   There are many benefits to having an HSA. One of the most notable is the tax savings. HSA contributions are made before taxes, so they're deducted from your total income when it comes time to file. In 2026, the IRS lets you put in $4,400 for individual coverage or $8,750 for family coverage. If you're 55 or older, you can add an extra $1,000 each year until you turn 65 or enroll in Medicare. This extra amount is called a catch-up contribution. Money you take out of your HSA is tax-free if you use it for qualified medical expenses, no matter your age. Plus, any money your HSA earns is also tax-free.   With an HSA, you also save on premiums. Most high-deductible health plans have lower premiums, so you can put your savings into your HSA. Use your HSA to pay for any medical expense, including coinsurance, copays, and your deductible.   Your HSA is your money. You own all the money in your HSA, even if your employer contributed, and you keep it if you change jobs, lose coverage, or retire. Your balance rolls over yearly and never expires. If you are 65 or older or disabled, you can withdraw funds for non-medical use without penalty. Using your HSA is easy. Open one at a bank or credit union to get a debit card. Use it to pay for expenses like copays, deductibles, and prescriptions.  If you're interested in getting started with your own HSA, there are multiple ways to contribute. For a list of ways you can contribute and a transcript of this money tip, check out "Helpful Hints about HSAs at triangleuniversity.org.   If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.           Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.  Eligibility and contribution limits are set by the IRS and may change. This information is for educational purposes and isn't tax advice—please consult a qualified tax professional. Insured by the NCUA.

This week on The Pete the Planner Show, Pete, Damian, and Kristen dive into one of the most universal workplace mysteries: why everyone treats HR like a certified financial planner… even though HR can barely tell you which parking pass to choose without checking a binder. Open enrollment, confusing benefits forms, retirement questions—employees fire all of it straight at HR hoping for guidance, clarity, or honestly just someone to make the decision for them. And while HR can walk you to the forms, they definitely cannot walk you through your medical history, risk tolerance, or whether your spouse is accident-prone. In this episode, we break down: Why HR gets stuck with financial questions in the first place The top “Please do not ask HR this” questions (yes, including the 401(k) ones) What HR is actually allowed to help you with How to get real answers without putting your HR team in legal jeopardy If you've ever stared at a PPO vs. HDHP page like it was ancient hieroglyphics—or asked HR which investments you should pick—this one's for you. And for HR professionals everywhere: you're welcome.

"I had no idea. I didn't know what an HSA was, all the acronyms—HRA, HSA, HDHP, ERISA. I really had to learn all of that." When Tammy Sun pitched her fertility startup a decade ago, the category she was building didn't exist. Investors dismissed it as a lifestyle business, a niche play unworthy of venture capital. After 99 rejections, she raised her first million. Today, Carrot Fertility operates in 170 countries, serving millions in a market that didn't even have a name when she started. This conversation arrives at an inflection point. Women over 40 represent the only demographic having more babies, while one in six couples confronts infertility—a number experts believe vastly undercounts reality since you're only counted if you can afford to seek care. Sun saw these contradictions not as obstacles but as opportunities. Without a male co-founder, without prior startup experience, without even knowing basic healthcare acronyms, she built one of the most valuable fertility companies in the world. Her secret wasn't expertise. It was embracing what she didn't know. "Having a beginner's mind and coming in with curiosity and excitement and imagination around the art of what is possible—I can't think of an area of the world that needs it more now than healthcare", Sun explains. From that first million that was "the hardest million dollars I ever raised" to expanding beyond fertility into what she calls "post reproductive fertility care" with their menopause product—which became their fastest growing product ever—Sun has earned the right to her radical advice about imposter syndrome: "You can totally ignore it. You can pretend like it doesn't exist, and you can just act the way that you feel like you should act." In this episode of Inspiring Women with Laurie McGraw, discover how a non-professional founder transformed a personal fertility crisis into a global healthcare platform. From recognizing that "half of all infertility is related to male factor" to launching Sprints at the nexus of metabolic and fertility care, Sun reveals why the future of women's health isn't about incremental improvements to a broken system. It's about having the audacity to imagine something entirely new. For Tammy Sun, building in the space between naivete and expertise isn't a disadvantage. It's the only way to create categories that don't yet exist. In a world where knowing too much can blind you to what's possible, she's proof that sometimes the best qualification for changing healthcare is not knowing why it can't be changed. Key Insights: Why the fastest-growing fertility demographic reveals everything about modern family planning How embracing ignorance became a competitive advantage in healthcare innovation The hidden truth about male factor infertility that affects half of all cases Why imposter syndrome is a luxury founders can't afford How moving from California to Arkansas changed everything What GLP-1s mean for the future of fertility and healthcare About the Guest: Tammy Sun is the Founder and CEO of Carrot Fertility, now operating in almost 170 countries after starting with 12. Without prior founder experience or healthcare expertise, she transformed a personal fertility journey into a category-defining company. She built Carrot into one of the most valuable fertility platforms globally, expanding from fertility into menopause and metabolic fertility care. Chapters 2:03 The State of Women's Health and Political Landscape 4:51 Origin Story: Building a Category from Scratch 8:01 Fertility Trends and the Education Gap 11:41 Raising the First Million: The Founding Journey 15:11 Embracing the Beginner's Mind in Healthcare 16:41 The Future: From Fertility to Lifelong Care 22:38 Advice for Women Founders: Throwing Away Imposter Syndrome Guest & Host Links Connect with Laurie McGraw on LinkedIn Connect with Tammy Sun on LinkedIn Connect with Inspiring Women Browse Episodes | LinkedIn | Instagram | Apple | Spotify

The rules around COVID coverage are entering a new phase. attorneys Kelly Dempsey and Naga Vivekanandan as they explore how recent ACIP guidance narrows preventive coverage for COVID vaccines and what it means for both PPO and HDHP plans. They also dig into the gray areas employers face when updating plan documents and how participants may see their costs shift.

 D.J. and the “Henssler Money Talks” hosts breaks down Health Savings Accounts (HSAs) and explains why they're one of the most powerful tools for saving money—thanks to their unique triple tax benefit. While many people use HSAs to pay for health care expenses as they arise, there are compelling advantages to covering those costs from other funds and allowing the HSA to accumulate, benefiting from tax-deferred growth over time. Original Air Date: September 27, 2025 Read the Article: https://www.henssler.com/health-savings-accounts-the-hidden-gem-in-your-financial-plan 

The power of Health Savings Accounts (HSAs) as a tool for both managing health expenses and building your retirement savings is often overlooked. On this episode, I'm sharing the basics of HSAs, highlighting their triple tax-free advantage, and explaining why they might be one of the best ways to maximize your retirement savings, even compared to more familiar accounts like IRAs and 401(k)s. I also unpack some important upcoming changes to HSAs thanks to the One Big Beautiful Bill Act, set to take effect in 2026. These changes expand HSA eligibility, especially for those on healthcare exchange plans and direct primary care memberships. Whether you're new to HSAs or looking to fine-tune your retirement strategy, my practical tips—like how to track reimbursements, invest your HSA funds wisely, and ensure you're making the most of every retirement planning opportunity.  You will want to hear this episode if you are interested in... [00:00] HSA contributions and eligible expenses. [03:33] HSA eligibility and individual plans. [07:27] HSA vs. 401(k) savings benefits. [12:10] HSAs and tax-free retirement reimbursements. [14:57] HSA contributions and Medicare Timing. [16:44] Top HSA provider tips. What is an HSA and Who Qualifies? Health Savings Accounts (HSAs) are often overlooked as powerful retirement planning vehicles. They are tax-advantaged accounts that allow individuals with high deductible health plans (HDHPs) to save and pay for qualified medical expenses. To be eligible, you must be enrolled in a qualifying HDHP; not all plans make the cut, so check with your insurer or employer to confirm eligibility. For 2025, annual contribution limits are $4,300 for individuals and $8,550 for families, with an additional $1,000 catch-up allowed for those age 55 and over. Both you and your employer can contribute, but the total combined contribution cannot exceed these limits. Triple Tax Advantage: The Unique HSA Benefit HSAs are the only accounts that offer a triple tax advantage: Pre-tax contributions: Contributions reduce your taxable income for the year, helping you save on federal and (in most cases) state income taxes. Tax-free growth: Money in your HSA can be invested, and all interest, dividends, and capital gains are tax-free while in the account. Tax-free withdrawals: Withdrawals used for qualified medical expenses remain tax-free, even in retirement. This makes HSAs one of the most tax-efficient savings vehicles available. HSAs as a Retirement Strategy While the primary purpose of an HSA is to cover medical expenses, its value extends far beyond that, especially for forward-thinking retirement planners. Many people cover their current medical out-of-pocket expenses with regular cash flow, allowing their HSA investments to grow tax-free for years, even decades. Upon reaching age 65, you are allowed to withdraw funds for non-medical expenses without penalty (although you will owe income tax, much like a traditional IRA). For medical expenses—including Medicare Part B, D, and Medicare Advantage premiums—withdrawals remain tax-free. However, Medigap policy premiums are not eligible for tax-free reimbursement from your HSA. A strategic approach can involve tracking your unreimbursed eligible medical expenses over the years. You can reimburse yourself in retirement with HSA funds for past qualified expenses, effectively turning your HSA into a tax-free retirement “bonus.” New HSA Legislation on the Horizon Looking ahead to 2026, recent legislative changes will further expand HSA eligibility and flexibility.  Expanded Access for Health Care Exchange Plans: Before 2026, only certain HDHPs on the healthcare exchange allowed HSA contributions. The One Big Beautiful Bill Act will enable individuals enrolled in any Bronze-tier plan through the health care exchange to qualify for HSA contributions, potentially making over 7 million more people eligible. Direct Primary Care Compatibility: Membership in direct primary care plans—where patients pay a monthly fee for enhanced access to primary care services—will now be compatible with HSA eligibility, subject to fee limits ($150/month for individuals, $300/month for families, indexed to inflation). Previously, participating in such plans disqualified individuals from contributing to HSAs. Common HSA Mistakes and Best Practices Investing your HSA balance (beyond a buffer for immediate health costs) can help you harness the benefits of compound growth over time. Compare fees and investment options among HSA providers to maximize long-term gains. Be mindful when approaching Medicare eligibility. HSA contributions must stop six months before you enroll in Medicare Part A, due to retroactive coverage. Resources Mentioned Retirement Readiness Review Subscribe to the Retire with Ryan YouTube Channel Download my entire book for FREE  IRS List of Covered HSA Expenses Connect With Morrissey Wealth Management  www.MorrisseyWealthManagement.com/contact   Subscribe to Retire With Ryan

Turning 26 comes with one major breakup, your parents' health insurance plan. In this episode of BullCast, we explore what happens when you age out of coverage and how to avoid being left uninsured. We kick things off with a rundown of Leonardo DiCaprio's best films (since he, too, cuts things off at 25), then break down confusing terms like HMO, PPO, HDHP, FSA, and more. If you're feeling unprepared for this adulting milestone, this episode is your quick guide to getting covered. The List: Leonardo DiCaprio's Best Movies Hashtags: #healthinsurance #leonardodicaprio #inception #happybirthday #turning26 #bullcast #bullcastpodcast Visit us online: www.bullcastpodcast.com Produced by Cameron Spann | Powered by Pickler Wealth Advisors Sound effects obtained from https://www.zapsplat.com

Sarah Raaii and Rachel Stauffer join Julia Grabo to discuss a key virtual care provision from the recently passed One Big Beautiful Bill Act, including its impact on patients, employers, and the state of virtual care policy at large.

Did you know that the median retail investor spends only six minutes researching a stock before buying it? Most of that time is spent staring at a price chart—often just the current day's movement. Nick compares the limited “research” many individual investors conduct to the extensive analysis performed by Henssler's research analysts.K.C. then takes a closer look at the “One Big Beautiful Bill” that passed the House of Representatives just hours before we recorded. We discuss the revised State and Local Tax (SALT) deduction cap, the increased Child Tax Credit, and the proposed tax break on tip income. While the bill's fate in the Senate remains uncertain, it appears that many of Trump's 2017 tax cuts may be extended.Last Friday, after the market closed, Moody's became the third major credit rating agency to downgrade the U.S. government's debt rating. The cut comes at a time when global confidence in U.S. debt is wavering, and Congress is debating a tax bill that could further increase the national debt. We examine what this downgrade means and whether it reflects actual investment risk.After the break, D.J. breaks down Health Savings Accounts (HSAs) and explains why they're one of the most powerful tools for saving money—thanks to their unique triple tax benefit. While many people use HSAs to pay for health-care expenses as they arise, there are compelling advantages to covering those costs from other funds and allowing the HSA to accumulate, benefiting from tax-deferred growth over time.Join hosts Nick Antonucci, CVA, CEPA, Director of Research, and Managing Associates K.C. Smith, CFP®, CEPA, and D.J. Barker, CWS®, and Kelly-Lynne Scalice, a seasoned communicator and host, on Henssler Money Talks as they explore key financial strategies to help investors navigate market uncertainty.Henssler Money Talks — May 24, 2025  |  Season 39, Episode 21Timestamps and Chapters4:38: Impulse Investors26:31: House Approves One Big Beautiful Bill33:06: Moody's Downgrade39:50: Economic News45:37: HSAs: Triple Tax BenefitFollow Henssler:  Facebook: https://www.facebook.com/HensslerFinancial/ YouTube:  https://www.youtube.com/c/HensslerFinancial LinkedIn: https://www.linkedin.com/company/henssler-financial/ Instagram: https://www.instagram.com/hensslerfinancial/ TikTok: https://www.tiktok.com/@hensslerfinancial?lang=en X: https://www.x.com/hensslergroup  “Henssler Money Talks” is brought to you by Henssler Financial. Sign up for the Money Talks Newsletter: https://www.henssler.com/newsletters/ 

More than two years after the pandemic-era Medicaid continuous enrollment provision ended, millions of eligible patients are without coverage, creating a crisis for hospitals and healthcare systems that rely on Medicaid reimbursement dollars. Adding to the strain on providers, Medicare physician payments have been cut for the fifth consecutive year. Compounding these challenges, the number of patients presenting as self-pay or on high-deductible health plans (HDHP) continues to grow. Uninsured, self-pay, and high-deductible patients take longer to pay — if they pay — and have a higher risk of write-off. What can providers do to protect their financial health? Listen to the podcast to hear RCM optimization experts discuss five proven tips for improving revenue capture, even in the most challenging of times. Providers will learn how to optimize reimbursement, reduce administrative burden, and improve the patient's financial experience. This episode is sponsored by ZOLL.

On the show today, I'm discussing something that could be a game-changer for your retirement savings: Health Savings Accounts, or HSAs. If you're on a high deductible health plan, you might be eligible for this unique, triple tax-free account, but are you making the most of it? I'm sharing the top five mistakes people make with their HSA accounts. If not avoided, those mistakes can cost you serious money and limit your financial options later in life. I'm covering everything from choosing the right HSA provider to maximizing your investments within the account, tracking expenses, and even strategizing for retirement healthcare needs. Plus, I'll give you actionable tips to avoid these common pitfalls and explain how an HSA can function as a powerful retirement savings tool. You will want to hear this episode if you are interested in... [00:00 HSAs offer triple tax benefits for qualified health costs. [06:17] Transfer your HSA to invest funds instead of letting them sit idle. [08:36] Use a bucketing strategy for investments and allocate funds based on risk and term. [13:24] Use an HSA to reimburse for long-term care insurance, COBRA costs, and Medicare Part B, D, and Advantage after age 65. [14:31] An HSA is suitable for tax-free withdrawals post-retirement. The Triple Tax Advantage of HSAs Health Savings Accounts (HSAs) have grown in popularity steadily due to their unique triple tax advantage: contributions are tax-deductible, earnings grow tax-deferred, and qualified withdrawals are tax-free. If you're enrolled in a high-deductible health plan (HDHP), you're likely eligible for an HSA, and maximizing this account could significantly boost your retirement planning. However, many account holders fail to capitalize on the full benefits. Let's explore the most common (and costly) mistakes people make with their HSAs, and the steps you can take to avoid them. 1. Sticking with a Poor HSA Provider Not all HSA providers are created equal. A “good” provider offers diverse sets of low-cost investment options, competitive yields on cash balances, a user-friendly platform, and minimal fees. Unfortunately, many people end up with accounts that lack investment choices or charge unnecessary fees, simply because their employer picked the provider. The good news? You can transfer your HSA balance to a more flexible institution like Fidelity or Charles Schwab without penalty, even while still employed. Doing so could unlock better investment potential and higher earnings on your cash, making it well worth investigating your current provider's offerings and considering a move if they fall short. 2. Not Investing Your HSA Money Surprisingly, many HSA owners leave their funds idle in low- or no-interest accounts, missing years of tax-free growth. If you don't plan to spend your HSA funds soon, consider using a “bucket” approach: keep enough in cash or a money market for your deductible, and invest the remainder in stock or bond funds for long-term growth. Since medical expenses are rarely incurred all at once, investing your surplus funds can help your account grow exponentially, harnessing the power of compounding. Review your provider's investment options and allocate your HSA funds according to your risk tolerance and time horizon. 3. Failing to Max Out Contributions Because HSAs offer unbeatable tax benefits, it's wise to contribute as much as possible. For 2025, contribution limits are $4,300 for individuals and $8,550 for families, including employee and employer contributions. If you're 55 or older, you can contribute an extra $1,000 as a “catch-up” contribution. If you're married and you and your spouse are over 55, each spouse can make their own catch-up contribution, but you'll need separate accounts. Remember, you have until the tax filing deadline to make contributions for the previous year, giving you ample opportunity to reach the maximum annual limit. 4. Treating Your HSA Like a Checking Account Many people promptly spend their HSA funds on current medical expenses, inadvertently missing a powerful savings opportunity. Instead, consider paying for qualified medical costs out-of-pocket and letting your HSA investments grow. As long as you keep records of those qualified expenses, you can reimburse yourself tax-free at any point in the future, even years later. This allows your HSA to function much like a “stealth IRA,” providing tax-free growth and withdrawals for medical needs in retirement, when such expenses are likely to be higher. 5. Neglecting to Track Qualified Expenses To take advantage of delayed reimbursement, it's crucial to maintain careful records of out-of-pocket medical expenditures. The IRS can require documentation during an audit, so scan or save receipts and keep a running log in a spreadsheet. Good record-keeping ensures that, when the time comes, you can confidently withdraw HSA funds tax-free to reimburse yourself or cover eligible costs like Medicare premiums, long-term care insurance, and more once you reach retirement age. Make Your HSA Work Harder for You Used strategically, an HSA can become one of your most valuable retirement planning tools. By carefully choosing your provider, investing wisely, maximizing contributions, delaying withdrawals, and tracking all qualified expenses, you can fully realize the triple tax benefits and enjoy greater financial security in retirement. Take a moment today to review your HSA practices, your future self will thank you. Resources Mentioned Fidelity Charles Schwab.com Retirement Readiness Review Subscribe to the Retire with Ryan YouTube Channel Download my entire book for FREE  Connect With Morrissey Wealth Management  www.MorrisseyWealthManagement.com/contact   Subscribe to Retire With Ryan  

Is investing just looking too good these days? When everything is going up including stocks, commodities and cryptocurrencies, one has to stop and think is this the top? In November US equity trading increased by 38% compared to November 2023. The last time we saw this type volume was in 2021 when meme stocks were the major craze. The CEO of Robinhood, Vlad Tenev, stated a few weeks ago that they're looking at expanding into sports betting. In my opinion that is not a far stretch from what they're doing now. Over the past year, their stock has climbed 235% and it trades under the symbol HOOD. Polling by the US conference board on the bullishness of investors revealed that consumers expectations for equities compared to their own income has never been higher. Funny thing when I was drafting this post and I tried to put in bullishness, the auto spellchecks corrected it with foolishness. I would have to agree with the spellcheck on that. Lastly, I can't help but comment on the most ridiculous thing in crypto I have seen yet. There is now a cryptocurrency and please excuse my language called Fartcoin that has a market value of over $900 million. Comparing that to something of value, that is greater than nearly 40% of all American publicly traded companies. Remember, if you are speculating, Wall Street will always have some type of crazy investment that they'll make a lot of money off of, but yet in the end, you the speculator investor will more than likely lose big if not all your investment. It may be exciting for a while, but eventually the emotional roller coaster will wear on you.   Are pharmacy benefit managers, known as PBMs, costing consumers? If you go back to the early 60s, PBMs were the heroes because they helped reduce and control spending on prescription drugs. Back then drug companies were charging high prices and the PBMs came in and negotiated contracts for large purchases of drugs so the drug companies would not have to fill an order of 20 pills. Instead, through a PBM the drug companies could fill an order of say maybe 20,000 pills and charge much less. The consumer received lower prices on drugs, the drug company made a good profit, and the PBM took a slice of the pie. The reason we receive such great prices at Costco on all items is because they buy large quantities of products and pass the savings on to the consumer. Obviously, Costco doesn't pass all the benefit to the consumer and they keep part of the cost savings as a profit. Not to mention they also charge a subscription fee to gain access to these savings. This is the same way PBMs operate, they keep part of the discount or the spread for themselves so they can make profits. What all the hoopla is about is that the PBMs don't show the discount or the spread that they are receiving. The FTC, also known as the Federal Trade Commission, already regulates PBMs to ensure compliance with antitrust and consumer protection laws. There's also concern that six PBMs control roughly 90% of the market. I personally think that is OK especially when you compare it to how many options you have for your cell phone or cell phone service. There are many other services or products where you ultimately have limited options.   Stock market falls after disappointing Fed comments It was widely anticipated the Federal Reserve would cut the Fed Funds Rate by a quarter of a point to a target range of 4.25%-4.5%. While the Fed followed through on those expectations and lowered the rate back to the level where it was in December 2022, it was the projection for 2025 that moved stocks lower. The Fed indicated it would probably only lower rates twice in 2025. This projection is based on the dot plot which is a matrix of individual members' future rate expectations. Personally, I'm not a fan of the dot plot as Fed expectations have been wildly off in the last few years and the latest dot plot cuts in half the committee's intention when the plot was last updated in September. I believe it is just too hard to predict out what inflation will be for the longer term, which then makes it difficult to get a gauge on where interest rates will be over the next few years. Given the current data I can see why the Fed wants to be patient, but the problem as we all know is data can change. If inflation does start to decelerate further next year it is absolutely possible the Fed cuts maybe four times instead of the current estimate of two cuts. The main takeaway I have from this meeting is the Fed is not on an aggressive rate cut cycle and they are going to be data dependent. Ultimately, the market did not like what Powell said and stocks fell greatly during his press conference. This led to another down day for the Dow Jones, which marked the 10th straight losing day. This is the longest losing streak since 1974 when the Dow fell 11 days straight. I do believe with the excessive valuations there will be continued volatility in the markets, but I do see this as an overreaction to the Fed comments and we still see great upside for several companies in next years market.   Should you Fund a Health Savings Account? A Health Savings Account (HSA) is an investment account that is primary used for medical expenses but also doubles as a retirement account.  Contributions to an HSA are tax deductible and can be invested.  Investment earnings in an HSA grow tax deferred and may be withdrawn tax free to cover medical expenses at any age, you do not need to wait until retirement.  You may also reimburse yourself for out-of-pocket medical expenses at any point for expenses that occurred while you had an HSA.  For example, if you paid for some medical expense in 2024 but chose not to withdraw from your HSA to cover it, you could keep those funds growing tax free and withdraw them in 2030 or any other future year.  Unlike Flexible Spending Accounts where funds must be used every year, balances in Health Savings Accounts rollover each year indefinitely, which is why they can be great retirement accounts. If you make a withdrawal that is not for medical expenses, it is taxable and comes with at 20% penalty.  At age 65 you may withdraw funds for any reason without penalty, but it is still taxable if not used for medical expenses, so you really just want to use these for medical expenses to avoid taxes and penalties.  In retirement there are typically plenty of medical expenses like Medicare premiums and elder care, so it is usually not a problem to withdraw all the funds tax free.   An HSA account must be paired with a high deductible health plan (HDHP) and in 2024 the annual maximum contribution is $4,150 for a self-only plan and $8,300 for family plans. If you are over 55 you can make an extra $1,000 catch-up contribution.  HSA accounts can be funded through payroll if your employer offers them or you can open your own account as long as you have a qualifying plan.  It is more tax advantageous to fund through payroll though because not only are contributions pre income tax, they are also pre–Social Security and Medicare tax which is an extra 7.65% savings.  Unfortunately, California does not recognize HSA accounts which means contributions are not deductible at the state level and earnings are taxable.  However, these are still extremely tax efficient and useful accounts and are not utilized enough.   Companies Discussed: Netflix, Inc. (NFLX), RH (RH), Broadcom Inc. (AVGO) & Occidental Petroleum Corporation (OXY)

This episode of Brokers' Corner provides a comprehensive breakdown of the IRS's newly announced limits for Health Savings Accounts (HSA) and High Deductible Health Plans (HDHP) for 2025, just in time for open enrollment. The episode explores updated contribution limits for both individual and family coverage, including the continuation of catch-up contributions for those 55 and older. Additionally, the podcast covers key changes to HDHP out-of-pocket maximums and minimum deductibles, and provides expert tips on how brokers, HR professionals, and benefits managers can help clients navigate these adjustments. Listeners also get insight into strategies employers can use to enhance benefits offerings and improve employee retention. Whether you're a broker or benefits manager, this episode offers vital insights to help you prepare for the upcoming open enrollment season.Read our broker blog: https://brokerblog.bernieportal.com/Follow us: https://www.linkedin.com/company/bernieportal/Book a BerniePortal demo: https://www.bernieportal.com/get-a-demo/

Expert Nerds talk through the complexities of open enrollment, starting with ways to assess healthcare plans and costs. This episode takes a deep dive into specific terminology and scenarios relevant to choosing health insurance coverage. Hosts Sean Pyles and Liz Weston start with an overview of open enrollment period timelines for November and December 2023 before welcoming guest Nerd Kate Ashford to explain deductibles, premiums, HMOs, PPOs and HDHPs.  Then, NerdWallet's Tina Orem joins the show to discuss the pros and cons of high deductible plans and the intricacies of Health Savings Accounts (HSAs) and both Medical and Dependent Care Flexible Spending Accounts (FSAs). In the second half of this episode, she zeroes in on selecting optimal health insurance for individual needs, discussing the merits and disadvantages of different health plans, budgeting for healthcare, and how to compare the benefits of an FSA and an HSA. In their conversation, the Nerds discuss: open enrollment, health insurance options, healthcare choices, high deductible plans, premiums, health savings accounts (HSAs), flexible spending accounts (FSAs), optimal health insurance, HMOs, PPOs, HDHPs, health insurance budgeting, FSA vs HSA, the use it or lose it rule, health insurance decision-making, health insurance terminology, healthcare strategies, health plan selection, medical costs, and types of health insurance coverage. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend.

https://vimeo.com/1021533441?share=copy#t=0 https://www.currentfederaltaxdevelopments.com/podcasts/2024/10/20/2024-10-21-staking-returns-for-one-more-try-at-court This week we look at: S corporation finds multiple ways to terminate its S status, asks IRS forgiveness which is granted IRS rules condoms are medical expenses for tax purposes IRS adds items to list of preventive care an HDHP can pay without the insured having met the annual deductible PTIN registration opens for 2025 Staking income challenge returns to court

This week we look at: S corporation finds multiple ways to terminate its S status, asks IRS forgiveness which is granted IRS rules condoms are medical expenses for tax purposes IRS adds items to list of preventive care an HDHP can pay without the insured having met the annual deductible PTIN registration opens for 2025 Staking income challenge returns to court

Daniel and Logan talk about the pros and cons of PPO and HDHP healthcare plans.

Josh and Emily briefly discuss “what is an HSA?” and then dive into what financial coaches should think about when talking to clients about HSAs, including potential red flag areas. Top things to think about You have to have a high deductible health plan (HDHP) to qualify for an HSA. Feel free to do the math, but anything beyond, “the simple math says it's worth it/not worth it,” may be best left to a comprehensive financial adviser. Consider the implications of possibly switching insurance to a HDHP–what does it impact beyond cost? HSA contributions are not part of the standardized deduction. If you're going to use all of the money you contribute to an HSA, you should probably be using a lower deductible plan and contributing to an FSA instead of the high deductible plan and an HSA. HSAs make the most sense when there is enough free cashflow to pay for medical expenses out of pocket and contribute to the HSA to invest for the future (and this is when you need an investment licensed person to give advice). Broadly speaking, the same expenses qualify for FSA and HSA reimbursement (but you can't legally double dip). Want help building or growing a successful financial coaching business? Find resources below based on where you're at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you're going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow

  The Friday Five for May 17, 2024: Camp Ritter Employee Training Event Next Week Talkspace Official Enters Medicare Market IRS Announces HSA & HDHP Amounts for CY 2025 Apple Announces New Accessibility Features Highlights from 2024 Google I/O Conference   How comfortable are you with AI? Answer this week's question of the week: https://bit.ly/asgquestion   Talkspace Officially Enters Medicare Market: Online therapy covered by Medicare: https://www.talkspace.com/coverage/insurance/medicare Talkspace Expands Access to Tele-Mental Healthcare With Medicare Launch: https://www.businesswire.com/news/home/20240514596587/en/Talkspace-Expands-Access-to-Tele-Mental-Healthcare-With-Medicare-Launch Talkspace expands online mental health therapy to millions of Medicare members: https://www.fiercehealthcare.com/digital-health/talkspace-expands-online-therapy-millions-medicare-members Talkspace rolls out teletherapy access to 13 million Medicare members: https://vator.tv/news/2024-05-14-talkspace-rolls-out-teletherapy-access-to-13-million-medicare-members Virtual Mental Health Provider Talkspace Taps Into Medicare Market: https://bhbusiness.com/2024/05/14/virtual-mental-health-provider-talkspace-taps-into-medicare-market/   IRS Announces HSA and HDHP Amounts for CY 2025: IRS Announces 2025 HSA, HDHP Limits: https://www.shrm.org/topics-tools/news/benefits-compensation/irs-announces-2025-hsa--hdhp-limits IRS announces HSA, HDHP limits for 2025: https://www.benefitspro.com/2024/05/13/irs-announces-hsa-hdhp-limits-for-2025/ IRS releases HSA and high-deductible health plan limits for 2025: https://global.lockton.com/us/en/news-insights/irs-releases-hsa-and-high-deductible-health-plan-limits-for-2025 Savings Boost: IRS Raises HSA Contribution Limits for 2025: https://www.hrmorning.com/news/irs-announces-new-hsa-contribution-limits/   Apple Announces New Accessibility Features: Apple announces new accessibility features, including Eye Tracking, Music Haptics, and Vocal Shortcuts: https://www.apple.com/newsroom/2024/05/apple-announces-new-accessibility-features-including-eye-tracking/ Apple's new accessibility features let you control an iPhone or iPad with your eyes: https://www.theverge.com/2024/5/15/24157271/apple-eye-tracking-speech-motion-sickness-accessibility-features   Highlights from 2024 Google I/O Conference: Google I/O 2024 – the 7 biggest AI announcements, from Gemini to Android 15: https://www.techradar.com/phones/android/the-7-biggest-ai-announcements-from-google-io-2024 Google I/O 2024: Everything revealed including Gemini AI, Android 15 and more:  https://www.engadget.com/google-io-2024-everything-revealed-including-gemini-ai-android-15-and-more-210414423.html Google now offers ‘web' search — and an AI opt-out button: https://www.theverge.com/2024/5/14/24074314/google-now-offers-web-search   Resources: 5 Alternative Apps to Replace Google Podcast: https://link.chtbl.com/ASGF20240329 Best Free Writing & Grammar Apps: https://link.chtbl.com/ASGA58 Contact the Agent Survival Guide Podcast! Email us ASGPodcast@Ritterim.com or call 1-717-562-7211 and leave a voicemail. Greater Access to Health Coverage for DACA Recipients: https://link.chtbl.com/ASGF20240510 Interview: The 5 Pillars of Integrity: https://ritterim.com/blog/interview-the-5-pillars-of-integrity/ Interview: Training Opportunities for Agents at Ritter Insurance Marketing: https://ritterim.com/blog/interview-training-opportunities-for-agents-at-ritter-insurance-marketing/    Ready to Join an FMO? 10 Things to Consider: https://link.chtbl.com/ASG593 The Best Books for Insurance Agents: https://link.chtbl.com/ASG590 Tips for Becoming a Top Producing Insurance Agency: https://ritterim.com/blog/tips-for-becoming-a-top-producing-insurance-agency/   Follow Us on Social!  Ritter on Facebook, https://www.facebook.com/RitterIM Instagram, https://www.instagram.com/ritter.insurance.marketing/ LinkedIn, https://www.linkedin.com/company/ritter-insurance-marketing TikTok, https://www.tiktok.com/@ritterim X (fka) Twitter, https://twitter.com/RitterIM and Youtube, https://www.youtube.com/user/RitterInsurance     Sarah on LinkedIn, https://www.linkedin.com/in/sjrueppel/ Instagram, https://www.instagram.com/thesarahjrueppel/ and Threads, https://www.threads.net/@thesarahjrueppel  Tina on LinkedIn, https://www.linkedin.com/in/tina-lamoreux-6384b7199/

Understand the different ways you can utilize a healthcare savings account and learn tips and tricks for HSA investing. 00:46 This Week in Your Money: Where can you find an unbiased analysis of the best financial products available? What products can help you make the most of your finances? Hosts Sean Pyles and Sara Rathner discuss NerdWallet's Best-Of Awards, a resource that can serve as a shortcut when it comes to finding the right financial tools for your goals. They share some highlights from this year's awards, including the best all-purpose travel rewards credit card and the best broker for beginner investors. 06:23 Today's Money Question: How does HSA investing work? Investing Nerd Alieza Durana joins Sean and Sara to answer a listener's questions about health savings accounts — what are HSAs, how do they work, and what are the benefits of having one? She discusses how you can use HSA funds for qualified medical expenses, how HSAs are similar to 401(k)s or Roth IRAs, and the triple tax advantages of HSAs. She also addresses the debate around whether to spend HSA funds on current medical expenses or save them for future healthcare costs in retirement, which leads to a discussion on balancing the need for immediate healthcare with long-term savings goals. In their conversation, the Nerds discuss: health savings accounts, HSA investing, financial products, financial tools, financial future, investment potential, credit cards, investment accounts, financial landscape, tax-free growth, retirement healthcare costs, Best-Of Awards, unbiased reviews, mortgages, savings accounts, financial decision-making, prosperity, spend or invest, annual contributions, high deductible health plans, HDHP, qualified medical expenses, investment potential, shopping smart, managing money, and financial maximization. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend.

Welcome to another exciting episode of Keep What You Earn! Today, I am bringing you all the insider insights into Health Savings Accounts (HSAs) and how they can be a game-changer for saving on taxes. Joining me is none other than Austin Preece, a certified financial planner and enrolled agent, who's here to share his wealth of knowledge on all things HSAs.   In this episode, Austin and I get down to the brass tacks of HSAs, including their benefits, who qualifies for them, the opportunities for investment, and some key pointers for both entrepreneurs and employees looking to get the most out of these nifty tax-saving tools.   So, if you've ever wondered about the potential of HSAs and how they can help you keep more of what you earn, this podcast episode is a must-listen. Get ready to level up your financial game and make informed decisions about your money.   Austin Preece is a dedicated financial advisor who has carved out a niche by focusing on a segment of the population that often goes underserved in the finance industry. While many of his peers concentrate on retirees, Austin finds fulfillment in addressing the unique financial challenges faced by those who are still years away from retirement. He takes a keen interest in the complex questions and issues that arise for this demographic, providing tailored financial planning and proactive management of their assets. His enthusiasm for guiding individuals through the earlier stages of their financial journeys illuminates his practice and fills a crucial gap in the advisory landscape. Austin's approach not only showcases his expertise but also his desire to make a meaningful difference in the lives of his clients during their peak earning years. What you'll hear in this episode: 04:56 HDHP requires specific deductible and out-of-pocket limits.   07:42 HSA options for self-employed individuals explained.   11:20 Can we withdraw money from retirement accounts?   15:46 Expensive health insurance, prefer high deductible plan.   16:49 Health insurance choices: benefits vs. costs explained.   19:40 HSA contributions through payroll and alternative options. If you like this episode, check out: How to Introduce Your Kids to Money How to Pour Money Into Your Business 4 Steps to Start Your Investing Journey with Tess Waresmith   Want to learn more so you can earn more? CFO On Demand click here Click here to take our Podcast Listener Survey - we appreciate your feedback! Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Expert Nerds talk through the complexities of open enrollment, starting with ways to assess healthcare plans and costs. This episode takes a deep dive into specific terminology and scenarios relevant to choosing health insurance coverage. Hosts Sean Pyles and Liz Weston start with an overview of open enrollment period timelines for November and December 2023 before welcoming guest Nerd Kate Ashford to explain deductibles, premiums, HMOs, PPOs and HDHPs.  Then, NerdWallet's Tina Orem joins the show to discuss the pros and cons of high deductible plans and the intricacies of Health Savings Accounts (HSAs) and both Medical and Dependent Care Flexible Spending Accounts (FSAs). In the second half of this episode, she zeroes in on selecting optimal health insurance for individual needs, discussing the merits and disadvantages of different health plans, budgeting for healthcare, and how to compare the benefits of an FSA and an HSA. In their conversation, the Nerds discuss: open enrollment, health insurance options, healthcare choices, high deductible plans, premiums, health savings accounts (HSAs), flexible spending accounts (FSAs), optimal health insurance, HMOs, PPOs, HDHPs, health insurance budgeting, FSA vs HSA, the use it or lose it rule, health insurance decision-making, health insurance terminology, healthcare strategies, health plan selection, medical costs, and types of health insurance coverage. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend.

We often hear about 401Ks and IRAs, two incredible retirement planning tools but what if I told you there was a third, secret retirement account that trumps both of these?Today we are discussing the Health Savings Account, or HSA, and why the HSA is not only a financial game-changer for managing your medical expenses but also a powerful tool to build wealth for your future.This episode is a replay of episode 40 where I interviewed Sean Mullaney Financial Planner, and the voice behind FITaxGuy.com. I needed to recast this episode because it is hard to cover Mastering Money at Work if I don't talk about HSAs.You'll uncover how HSAs offer a triple tax advantage, giving you tax deductions when you contribute, tax-free growth, and tax-free withdrawals for qualified medical expenses.But here's the real kicker: an HSA can become a pseudo-retirement fund by delaying your reimbursements and investing your contributions for the long haul.If you want to learn how to do that along with if you qualify for an HSA, how to keep your expenses organized, and what to do if your company doesn't offer an HSA, well then you're in the right place.Also, note this episode is originally from 2021. All of the information is still relevant and helpful but the HSA contribution limit has increased from $3,600 to $3,850 and increasing to $4,150 in 2024.Alright, let's get into it. I hope you enjoy my conversation with FI Tax Guy himself…Sean Mullaney.Key Takeaways:What is a HSAHow do you qualify for a HSATax benefits of an HSAIs a HSA my health insurance?Who a HDHP the right for youHow to figure out if your insurance qualifies for a HSAHow to get a FICA tax break when funding your HSAExamples of qualified medical expensesHow to use your HSA as a pseudo-retirement accountThe HSA contribution limit (increased to $3,850 in 2023)How to keep your HSA expenses organizedHow to set up an HSA independently if your employer doesn't offer oneMentions:IRS Publication 502: https://www.irs.gov/pub/irs-pdf/p502.pdfMore of Sean:www.MullaneyFinancial.comwww.FITaxguy.comMore of The Struggle is Real:Find show notes and more at https://www.tsirpodcast.com/Follow us on Instagram at https://www.instagram.com/tsirpod/

Liz joins this week's podcast, and we delve into the many reasons why HSAs, or Health Savings Accounts, are awesome! We explain what an HSA is, the requirement of a High-deductible health insurance plan (HDHP) to participate, and the annual limits the IRS sets. Additionally, we share four reasons why HSAs are an incredible financial tool and how to maximize their benefits. We explain the triple-tax advantages that HSAs provide and some often overlooked benefits and loopholes. Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/023-4-reasons-hsas-are-awesome-and-how-to-maximize-the-benefits-of-health-savings-accounts/

We look at issues people run into in tax research, IRS ends COVID-19 HDHP relief and more.

  The Friday Five for June 2, 2023: Medicaid work requirements in debt ceiling bill nixed, Medicaid enrollees unaware of Medicaid redeterminations and unsure of renewal process, Medicaid prescription drug transparency proposal, register to attend Ritter Summits, and RIMGO, Ritter's AEP-prep game is back!   Next Steps After Listening: Get Ready to Summit with Ritter Insurance Marketing! https://summits.ritterim.com/ Reach out to your sales specialist! Click on the rep for your state here: https://www.ritterim.com/meet-your-sales-team/ RIMGO is Back: Ritter's Business-Boosting BINGO Competition! https://www.ritterim.com/blog/rimgo-is-back-ritters-business-boosting-bingo-competition What Summit is Sarah attending? Email the podcast with a question to get the answer at ASGPodcast@RitterIM.com   Recent Episodes: Apps to Make Your Small Business More Efficient Whether you're working for yourself or a have a small team, these apps will help your business get organized and save time! 4 Perks of Being a Part-Time Insurance Agent Looking for a new part-time profession? Want flexibility and make your own schedule? Selling insurance part-time may be right for you! AHIP 2024, MA Enrollment Milestone, & Apple Personal Voice AHIP 2024 certification dates, Medicare Advantage enrollment reaches 50 percent, one in five seniors skipping meds to cut costs, Apple Personal Voice feature, and Meta's new Twitter clone How to Streamline Your Insurance Sales Process Are you having trouble meeting your personal and career goals, or feel your sales methods seem outdated? Perhaps you're in a good spot, but you want to increase your sales? If any of those sound like you, it's time to streamline your sales process! NABIP Certification, ChatGPT Scams, and Innovation for Field Agents NABIP 2024 certification release date, Chat GPT fleeceware scams, Craig Ritter's panel at Medicarians, new HSA and HDHP limits from the IRS, and TikTok Sans.   References: Biden-Harris Administration Announces Proposal to Advance Prescription Drug Transparency in Medicaid: https://www.hhs.gov/about/news/2023/05/23/biden-harris-administration-announces-proposal-advance-prescription-drug-transparency-medicaid.html Debt deal claws back COVID relief, spares Medicaid: https://www.axios.com/2023/05/30/debt-deal-claws-back-covid-relief-spares-medicaid HR 2811, the Limit, Save, Grow Act of 2023: https://docs.house.gov/billsthisweek/20230529/BILLS-118hrPIH-fiscalresponsibility.pdf Medicaid Drug Price Verification Survey and Pharmacy Benefit Manager Drug Price Transparency: https://www.cms.gov/newsroom/fact-sheets/medicaid-drug-price-verification-survey-and-pharmacy-benefit-manager-drug-price-transparency Medicaid Program; Misclassification of Drugs, Program Administration and Program Integrity Updates Under the Medicaid Drug Rebate Program: https://www.federalregister.gov/documents/2023/05/26/2023-10934/medicaid-program-misclassification-of-drugs-program-administration-and-program-integrity-updates Medicaid work requirements dropped in debt ceiling deal: https://www.fiercehealthcare.com/regulatory/medicaid-work-requirements-dropped-debt-ceiling-deal New Details in Debt Limit Deal: Where $136 Billion in Cuts Will Come From: https://www.nytimes.com/2023/05/29/business/debt-ceiling-agreement.html The Unwinding of Medicaid Continuous Enrollment: Knowledge and Experiences of Enrollees: https://www.kff.org/medicaid/poll-finding/the-unwinding-of-medicaid-continuous-enrollment-knowledge-and-experiences-of-enrollees/ Tough Tradeoffs Under Republican Work Requirement Plan: Some People Lose Medicaid or States Could Pay to Maintain Coverage: https://www.kff.org/medicaid/issue-brief/tough-tradeoffs-under-republican-work-requirement-plan-some-people-lose-medicaid-or-states-could-pay-to-maintain-coverage/ Understanding the Intersection of Medicaid & Work: A Look at What the Data Say: https://www.kff.org/medicaid/issue-brief/understanding-the-intersection-of-medicaid-work-a-look-at-what-the-data-say/ What Happens When the U.S. Hits Its Debt Ceiling? https://www.cfr.org/backgrounder/what-happens-when-us-hits-its-debt-ceiling White House and G.O.P. Strike Debt Limit Deal to Avert Default: https://www.nytimes.com/2023/05/27/us/politics/debt-ceiling-deal.html With Medicaid redeterminations underway, many are unaware of the process: KFF: https://www.fiercehealthcare.com/regulatory/medicaid-redeterminations-underway-many-are-unaware-process-kff   Follow Us on Social! Ritter on Facebook, https://www.facebook.com/RitterIM Instagram, https://www.instagram.com/ritter.insurance.marketing/ LinkedIn, https://www.linkedin.com/company/ritter-insurance-marketing TikTok, https://www.tiktok.com/@ritterim Twitter, https://twitter.com/RitterIM and Youtube, https://www.youtube.com/user/RitterInsurance Sarah on LinkedIn, https://www.linkedin.com/in/sjrueppel/ and Instagram, https://www.instagram.com/thesarahjrueppel/ Tina on LinkedIn, https://www.linkedin.com/in/tina-lamoreux-6384b7199/

In this episode of Tax Tuesday, tax experts Toby Mathis, Esq., and returning guest Jeff Webb, Esq., CFO of Anderson Business Advisors discuss various tax strategies for real estate, stocks, and nonprofits. Online we have Ander, Dutch, Sergei, Ross, Jared, Elliot, Troy, and all kinds of staff to help answer all your Tax Tuesday questions. Toby and Jeff cover topics such as 1031 and 721 exchanges, the Section 121 Exclusion, employee stock options, and the tax implications of short-term rentals and Health Savings Accounts (HSAs). They also discuss best practices for reimbursing personal contributions to a business. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: "Section 721 and 1031 differences” - It has the same effect as 1031 but you don't pay tax on the sale, But you're not exchanging one property for another…it's a tax-free exchange, but it's a one-and-done. "Tax benefits of a foundation versus a nonprofit organization?” - The easiest way is - a nonprofit (public charity) DOES stuff, a foundation funds stuff… "I have two houses I'm selling this year and or at the same time, both were residences for two years at the last five years consecutive. I have just lived in the latest house for the last two years and I've been preparing both to sell. Will I have a problem claiming both of them as residences two of the last five years and I'm selling them at the same time.” - So of the last 60 months, 24 of them you had to have lived in it as your primary residence. That met, then you can exclude, if you're single, $250,000 of capital gain. If you're married, you could exclude up to $500,000 of capital gain. DO NOT SELL AT THE SAME TIME. “How are stock options taxed?” - Tax treatment varies depending on the type of stock option (ISO, NSO, RSU), time held, and exercise/sale timing. "LLC taxed as S-Corp with brokerage account….anything similar to trader status?” - I have not seen anything that says any entity can make a mark to market section 475 election. If you're making a mark-to-market election because you're losing so much money in the market, get out of the market and go do something else. "Does California's 571L form business property tax apply to short-term rentals? - Yes, as short-term rentals are considered active trader businesses and subject to tax. “Who can qualify for an HSA?” - Eligible individuals must have a high deductible health plan (HDHP) and not be covered by another non-HDHP plan. Can I open an additional HSA with my LLC business? - No, you can only have one HSA per individual, but your LLC can contribute to your existing HSA. "Anderson made me a C-Corp, I put money in from my personal account to pay expenses. I have to take out the initial $7K … How do I legally and ‘tax-friendly' take the $7,000 back that I need for my personal reimbursement? - If the initial $7,000 was a loan, you can withdraw it tax-free as repayment; if a capital contribution, the process is different. Send us your questions, and we do about 50 events a year - check out the event schedule listed in the notes. Resources: Infinity Investing https://infinityinvesting.com/ Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq    

  The Friday Five for May 19, 2023: NABIP 2024 certification release date, Chat GPT fleeceware scams, Craig Ritter's panel at Medicarians, new HSA and HDHP limits from the IRS, and TikTok Sans.   Follow Us on Social! Ritter on Facebook, https://www.facebook.com/RitterIM Instagram, https://www.instagram.com/ritter.insurance.marketing/ LinkedIn, https://www.linkedin.com/company/ritter-insurance-marketing TikTok, https://www.tiktok.com/@ritterim Twitter, https://twitter.com/RitterIM and Youtube, https://www.youtube.com/user/RitterInsurance Sarah on LinkedIn, https://www.linkedin.com/in/sjrueppel/ and Instagram, https://www.instagram.com/thesarahjrueppel/ Tina on LinkedIn, https://www.linkedin.com/in/tina-lamoreux-6384b7199/   Resources: FAQs About NABIP Medicare Certification: https://www.ritterim.com/blog/faqs-about-nabip-medicare-certification/ NABIP 2024 Medicare Certification: https://www.ritterim.com/blog/nabip-2024-medicare-certification/   References: Carriers Accepting NABIP Certification: https://nabip.org/professional-development/medicare-advantage-certification/carriers ChatGPT Scams Are Infiltrating the App Store and Google Play: https://www.wired.com/story/chatgpt-scams-apple-app-store-google-play/ Innovation for Field Agents | Medicarians | AgentSync: https://www.youtube.com/watch?v=lKPHyy1jZK4 Introducing TikTok Sans: TikTok's new bespoke typeface: https://newsroom.tiktok.com/en-us/introducing-tiktok-sans IRS announces 2024 HSA, HDHP limits: https://www.benefitspro.com/2023/05/17/irs-announces-2024-hsa-hdhp-limits/ IRS Gives Big Boost to HSA, HDHP Limits in 2024: https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/2024-irs-contribution-limits-for-hsas-and-high-deductible-health-plans.aspx Montana becomes the first state to ban TikTok: https://www.npr.org/2023/05/18/1176805559/montana-tiktok-ban National Association of Benefits and Insurance Professionals (NABIP) Official Website: https://nabip.org/ NABIP Online Learning Portal: https://nabip.inreachce.com/ TikTok has a new font / TikTok Sans. https://www.theverge.com/2023/5/17/23727052/tiktok-sans-new-font

Welcome to Powering Your Retirement Radio. A Health Savings Account (HSA) is a savings account used in conjunction with a high-deductible health plan (HDHP) to pay for qualified medical expenses. Contributions to the account are made pre-tax and can be withdrawn tax-free to pay for qualified medical expenses. The money in the account can roll over from year to year and be invested to grow over time. Only people enrolled in an HDHP are eligible to open and contribute to an HSA, and there are limits on the amount that can be contributed each year. For more information visit the podcasts website: https://poweringyourretirement.com/2022/11/17/hsa_ideas

The Only Retirement Account that is Triple #Tax Advantaged! A health savings account, or #HSA, has a unique triple #tax benefit. Your contributions reduce your taxable income, any investment growth within the account is tax-free, and qualified withdrawals are tax-free! As Peter with Richon Planning explains to Erin Kennedy, if you have a High Deductible Health Plan, or #HDHP, it's often worth taking advantage of the HSA. Peter breaks down how to use the money in your account to pay medical bills and how to utilize it as an investment tool as well. He also breaks down common mistakes when creating and investing HSAs. As you work to determine which health plan is right for you and your family in 2023, Peter would be happy to help you determine if a HDHP makes sense for your unique financial goals and priorities. Please feel free to reach out by calling (919) 300-5886 or by visiting www.RichonPlanning.com #WealthManagement #Retirement #Healthcare

Is a high deductible health plan (HDHP) something you should consider for you and/or your family? In this show we talk about what a HDHP is and why it may make sense for you. The main reason to consider using a HDHP is to gain access to the powerful features of a Health Savings Account (HSA).

Is a high deductible health plan (HDHP) something you should consider for you and/or your family? In this show we talk about what a HDHP is and why it may make sense for you. The main reason to consider using a HDHP is to gain access to the powerful features of a Health Savings Account (HSA).

In this episode, Chase Cannon and Suzanne Spradley discuss the benefits provisions of the recently-enacted Inflation Reduction Act. Chase walks through the extension of premium tax credit expansions through 2025, and the impact on employers with respect to the employer mandate penalties. Next, Chase and Suzanne discuss Medicare prescription drug cost reductions and a formalization of prior IRS guidance that allows HDHP coverage of insulin in certain circumstances without impacting HSA eligibility. The two close the podcast by outlining the new law's increased funding of the IRS and how that might impact compliance enforcement on employer group health plans.

If you qualify for an HSA, you want to make the most of it. But they're not right for everyone. We'll talk about where they do the most good and where they'll have little impact on your budget today on MoneyWise. HSAs can help greatly to save on medical expenses and reduce your tax liability. Money goes into the account tax-deferred, and you can use it tax-free for qualified medical expenses. That's if you qualify. To be eligible for an HSA, you must have a high deductible health plan or HDHP. That means in 2022, your deductible for medical expenses, the point where your plan kicks in, must be at least $1,400 for an individual or $2,800 for a family. If that's you, you want to take full advantage of an HSA. Many financial advisers will tell you it's also a terrific way to save for retirement - for some folks. That's because at age 65, the penalty for using the money for non-medical reasons goes away, while money used for medical bills is still tax-deferred. So they're a real win-win, but again, only for some people. If you withdraw money from a retirement account after age 59 , you're taxed on it, but you don't pay a penalty. You can use the money for anything, but you do pay taxes on all of it, no matter what you use it for. With an HSA, after age 65, if you use the money for non-medical expenses you're still taxed. However, at that age, you'll probably have more medical expenses than you would earlier in life. When you use HSA money to meet those medical needs, it's tax-free. So in that sense, it's better than a conventional retirement plan. It's a double dip. Now, who's in that fortunate group? These are folks who don't need to tap into their HSA funds all the time for short-term health care. They're in a position to stockpile that cash for retirement in addition to other qualified plans like a 401k. It's such a good deal that some advisors will actually tell those individuals to pay medical bills out of pocket so they allow the money in their HSA to gain compound earnings for retirement. This group typically has low medical expenses and rarely reaches their health plan deductible. They're usually young and have the opportunity to accumulate more money over a lifetime. So this group can maximize their HSA's potential by investing the money in mutual funds or stocks and not spending it. HSAs are not like flexible spending accounts, so the money keeps rolling over from year to year with compound earnings. By the way, you can contribute to an HSA up to $3650 for an individual and $7,300 for a family in 2022, plus an additional $1,000 for people 55 or over. So that's great for folks in that group. Young, healthy, and able to contribute the max to their HSA for years and years, but they're in the minority. What about other folks? Well, most people who qualify for an HSA fall into a large middle group, and they still want to take full advantage of this opportunity. They're folks who have to tap into the account to meet their medical expenses. In fact, more than half of HSA owners exhaust their total balance every year. But that's okay, and it's really what the HSA was designed for. They're able to take advantage of the tax savings. The money they put in and use for medical expenses is tax-free, so it's still a good deal, even if the account never builds retirement savings. Now, that still leaves one group who might be eligible for a health savings account, that is, they have a high deductible health plan but they're still paying a lot out of pocket. For them, a health savings plan by itself won't be much help. What they really need is to get on a plan with lower deductibles. If that's you, it might mean paying more in premiums, but you can shop around for a plan that won't nickel and dime you to death after meeting the deductible. Now, no matter what your medical costs are, you can also think outside the box, and contact our friends at Christian Healthcare Ministries. You'll find them online at CHministries.org. They have medical sharing plans that could save you a bundle while meeting your healthcare needs. On today's program, Rob also answers listener questions: ● How can you begin investing with an inheritance? ● Does it make sense to use retirement funds to pay off a mortgage early? ● Is it wise to do a cash-out refinance on a mortgage to pay off consumer debt? RESOURCES MENTIONED: ● Betterment ● Wealthfront ● Schwab Intelligent Portfolios Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

If you qualify for an HSA, you want to make the most of it. But they're not right for everyone. We'll talk about where they do the most good and where they'll have little impact on your budget today on MoneyWise. HSAs can help greatly to save on medical expenses and reduce your tax liability. Money goes into the account tax-deferred, and you can use it tax-free for qualified medical expenses. That's if you qualify. To be eligible for an HSA, you must have a high deductible health plan or HDHP. That means in 2022, your deductible for medical expenses, the point where your plan kicks in, must be at least $1,400 for an individual or $2,800 for a family. If that's you, you want to take full advantage of an HSA. Many financial advisers will tell you it's also a terrific way to save for retirement - for some folks. That's because at age 65, the penalty for using the money for non-medical reasons goes away, while money used for medical bills is still tax-deferred. So they're a real win-win, but again, only for some people. If you withdraw money from a retirement account after age 59 , you're taxed on it, but you don't pay a penalty. You can use the money for anything, but you do pay taxes on all of it, no matter what you use it for. With an HSA, after age 65, if you use the money for non-medical expenses you're still taxed. However, at that age, you'll probably have more medical expenses than you would earlier in life. When you use HSA money to meet those medical needs, it's tax-free. So in that sense, it's better than a conventional retirement plan. It's a double dip. Now, who's in that fortunate group? These are folks who don't need to tap into their HSA funds all the time for short-term health care. They're in a position to stockpile that cash for retirement in addition to other qualified plans like a 401k. It's such a good deal that some advisors will actually tell those individuals to pay medical bills out of pocket so they allow the money in their HSA to gain compound earnings for retirement. This group typically has low medical expenses and rarely reaches their health plan deductible. They're usually young and have the opportunity to accumulate more money over a lifetime. So this group can maximize their HSA's potential by investing the money in mutual funds or stocks and not spending it. HSAs are not like flexible spending accounts, so the money keeps rolling over from year to year with compound earnings. By the way, you can contribute to an HSA up to $3650 for an individual and $7,300 for a family in 2022, plus an additional $1,000 for people 55 or over. So that's great for folks in that group. Young, healthy, and able to contribute the max to their HSA for years and years, but they're in the minority. What about other folks? Well, most people who qualify for an HSA fall into a large middle group, and they still want to take full advantage of this opportunity. They're folks who have to tap into the account to meet their medical expenses. In fact, more than half of HSA owners exhaust their total balance every year. But that's okay, and it's really what the HSA was designed for. They're able to take advantage of the tax savings. The money they put in and use for medical expenses is tax-free, so it's still a good deal, even if the account never builds retirement savings. Now, that still leaves one group who might be eligible for a health savings account, that is, they have a high deductible health plan but they're still paying a lot out of pocket. For them, a health savings plan by itself won't be much help. What they really need is to get on a plan with lower deductibles. If that's you, it might mean paying more in premiums, but you can shop around for a plan that won't nickel and dime you to death after meeting the deductible. Now, no matter what your medical costs are, you can also think outside the box, and contact our friends at Christian Healthcare Ministries. You'll find them online at CHministries.org. They have medical sharing plans that could save you a bundle while meeting your healthcare needs. On today's program, Rob also answers listener questions: ● How can you begin investing with an inheritance? ● Does it make sense to use retirement funds to pay off a mortgage early? ● Is it wise to do a cash-out refinance on a mortgage to pay off consumer debt? RESOURCES MENTIONED: ● Betterment ● Wealthfront ● Schwab Intelligent Portfolios Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

If you qualify for an HSA, you want to make the most of it. But they're not right for everyone. We'll talk about where they do the most good and where they'll have little impact on your budget today on MoneyWise. HSAs can help greatly to save on medical expenses and reduce your tax liability. Money goes into the account tax-deferred, and you can use it tax-free for qualified medical expenses. That's if you qualify. To be eligible for an HSA, you must have a high deductible health plan or HDHP. That means in 2022, your deductible for medical expenses, the point where your plan kicks in, must be at least $1,400 for an individual or $2,800 for a family. If that's you, you want to take full advantage of an HSA. Many financial advisers will tell you it's also a terrific way to save for retirement - for some folks. That's because at age 65, the penalty for using the money for non-medical reasons goes away, while money used for medical bills is still tax-deferred. So they're a real win-win, but again, only for some people. If you withdraw money from a retirement account after age 59 , you're taxed on it, but you don't pay a penalty. You can use the money for anything, but you do pay taxes on all of it, no matter what you use it for. With an HSA, after age 65, if you use the money for non-medical expenses you're still taxed. However, at that age, you'll probably have more medical expenses than you would earlier in life. When you use HSA money to meet those medical needs, it's tax-free. So in that sense, it's better than a conventional retirement plan. It's a double dip. Now, who's in that fortunate group? These are folks who don't need to tap into their HSA funds all the time for short-term health care. They're in a position to stockpile that cash for retirement in addition to other qualified plans like a 401k. It's such a good deal that some advisors will actually tell those individuals to pay medical bills out of pocket so they allow the money in their HSA to gain compound earnings for retirement. This group typically has low medical expenses and rarely reaches their health plan deductible. They're usually young and have the opportunity to accumulate more money over a lifetime. So this group can maximize their HSA's potential by investing the money in mutual funds or stocks and not spending it. HSAs are not like flexible spending accounts, so the money keeps rolling over from year to year with compound earnings. By the way, you can contribute to an HSA up to $3650 for an individual and $7,300 for a family in 2022, plus an additional $1,000 for people 55 or over. So that's great for folks in that group. Young, healthy, and able to contribute the max to their HSA for years and years, but they're in the minority. What about other folks? Well, most people who qualify for an HSA fall into a large middle group, and they still want to take full advantage of this opportunity. They're folks who have to tap into the account to meet their medical expenses. In fact, more than half of HSA owners exhaust their total balance every year. But that's okay, and it's really what the HSA was designed for. They're able to take advantage of the tax savings. The money they put in and use for medical expenses is tax-free, so it's still a good deal, even if the account never builds retirement savings. Now, that still leaves one group who might be eligible for a health savings account, that is, they have a high deductible health plan but they're still paying a lot out of pocket. For them, a health savings plan by itself won't be much help. What they really need is to get on a plan with lower deductibles. If that's you, it might mean paying more in premiums, but you can shop around for a plan that won't nickel and dime you to death after meeting the deductible. Now, no matter what your medical costs are, you can also think outside the box, and contact our friends at Christian Healthcare Ministries. You'll find them online at CHministries.org. They have medical sharing plans that could save you a bundle while meeting your healthcare needs. On today's program, Rob also answers listener questions: ● How can you begin investing with an inheritance? ● Does it make sense to use retirement funds to pay off a mortgage early? ● Is it wise to do a cash-out refinance on a mortgage to pay off consumer debt? RESOURCES MENTIONED: ● Betterment ● Wealthfront ● Schwab Intelligent Portfolios Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

If you qualify for an HSA, you want to make the most of it. But they're not right for everyone. We'll talk about where they do the most good and where they'll have little impact on your budget today on MoneyWise. HSAs can help greatly to save on medical expenses and reduce your tax liability. Money goes into the account tax-deferred, and you can use it tax-free for qualified medical expenses. That's if you qualify. To be eligible for an HSA, you must have a high deductible health plan or HDHP. That means in 2022, your deductible for medical expenses, the point where your plan kicks in, must be at least $1,400 for an individual or $2,800 for a family. If that's you, you want to take full advantage of an HSA. Many financial advisers will tell you it's also a terrific way to save for retirement - for some folks. That's because at age 65, the penalty for using the money for non-medical reasons goes away, while money used for medical bills is still tax-deferred. So they're a real win-win, but again, only for some people. If you withdraw money from a retirement account after age 59 , you're taxed on it, but you don't pay a penalty. You can use the money for anything, but you do pay taxes on all of it, no matter what you use it for. With an HSA, after age 65, if you use the money for non-medical expenses you're still taxed. However, at that age, you'll probably have more medical expenses than you would earlier in life. When you use HSA money to meet those medical needs, it's tax-free. So in that sense, it's better than a conventional retirement plan. It's a double dip. Now, who's in that fortunate group? These are folks who don't need to tap into their HSA funds all the time for short-term health care. They're in a position to stockpile that cash for retirement in addition to other qualified plans like a 401k. It's such a good deal that some advisors will actually tell those individuals to pay medical bills out of pocket so they allow the money in their HSA to gain compound earnings for retirement. This group typically has low medical expenses and rarely reaches their health plan deductible. They're usually young and have the opportunity to accumulate more money over a lifetime. So this group can maximize their HSA's potential by investing the money in mutual funds or stocks and not spending it. HSAs are not like flexible spending accounts, so the money keeps rolling over from year to year with compound earnings. By the way, you can contribute to an HSA up to $3650 for an individual and $7,300 for a family in 2022, plus an additional $1,000 for people 55 or over. So that's great for folks in that group. Young, healthy, and able to contribute the max to their HSA for years and years, but they're in the minority. What about other folks? Well, most people who qualify for an HSA fall into a large middle group, and they still want to take full advantage of this opportunity. They're folks who have to tap into the account to meet their medical expenses. In fact, more than half of HSA owners exhaust their total balance every year. But that's okay, and it's really what the HSA was designed for. They're able to take advantage of the tax savings. The money they put in and use for medical expenses is tax-free, so it's still a good deal, even if the account never builds retirement savings. Now, that still leaves one group who might be eligible for a health savings account, that is, they have a high deductible health plan but they're still paying a lot out of pocket. For them, a health savings plan by itself won't be much help. What they really need is to get on a plan with lower deductibles. If that's you, it might mean paying more in premiums, but you can shop around for a plan that won't nickel and dime you to death after meeting the deductible. Now, no matter what your medical costs are, you can also think outside the box, and contact our friends at Christian Healthcare Ministries. You'll find them online at CHministries.org. They have medical sharing plans that could save you a bundle while meeting your healthcare needs. On today's program, Rob also answers listener questions: ● How can you begin investing with an inheritance? ● Does it make sense to use retirement funds to pay off a mortgage early? ● Is it wise to do a cash-out refinance on a mortgage to pay off consumer debt? RESOURCES MENTIONED: ● Betterment ● Wealthfront ● Schwab Intelligent Portfolios Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

If you qualify for an HSA, you want to make the most of it. But they're not right for everyone. We'll talk about where they do the most good and where they'll have little impact on your budget today on MoneyWise. HSAs can help greatly to save on medical expenses and reduce your tax liability. Money goes into the account tax-deferred, and you can use it tax-free for qualified medical expenses. That's if you qualify. To be eligible for an HSA, you must have a high deductible health plan or HDHP. That means in 2022, your deductible for medical expenses, the point where your plan kicks in, must be at least $1,400 for an individual or $2,800 for a family. If that's you, you want to take full advantage of an HSA. Many financial advisers will tell you it's also a terrific way to save for retirement - for some folks. That's because at age 65, the penalty for using the money for non-medical reasons goes away, while money used for medical bills is still tax-deferred. So they're a real win-win, but again, only for some people. If you withdraw money from a retirement account after age 59 , you're taxed on it, but you don't pay a penalty. You can use the money for anything, but you do pay taxes on all of it, no matter what you use it for. With an HSA, after age 65, if you use the money for non-medical expenses you're still taxed. However, at that age, you'll probably have more medical expenses than you would earlier in life. When you use HSA money to meet those medical needs, it's tax-free. So in that sense, it's better than a conventional retirement plan. It's a double dip. Now, who's in that fortunate group? These are folks who don't need to tap into their HSA funds all the time for short-term health care. They're in a position to stockpile that cash for retirement in addition to other qualified plans like a 401k. It's such a good deal that some advisors will actually tell those individuals to pay medical bills out of pocket so they allow the money in their HSA to gain compound earnings for retirement. This group typically has low medical expenses and rarely reaches their health plan deductible. They're usually young and have the opportunity to accumulate more money over a lifetime. So this group can maximize their HSA's potential by investing the money in mutual funds or stocks and not spending it. HSAs are not like flexible spending accounts, so the money keeps rolling over from year to year with compound earnings. By the way, you can contribute to an HSA up to $3650 for an individual and $7,300 for a family in 2022, plus an additional $1,000 for people 55 or over. So that's great for folks in that group. Young, healthy, and able to contribute the max to their HSA for years and years, but they're in the minority. What about other folks? Well, most people who qualify for an HSA fall into a large middle group, and they still want to take full advantage of this opportunity. They're folks who have to tap into the account to meet their medical expenses. In fact, more than half of HSA owners exhaust their total balance every year. But that's okay, and it's really what the HSA was designed for. They're able to take advantage of the tax savings. The money they put in and use for medical expenses is tax-free, so it's still a good deal, even if the account never builds retirement savings. Now, that still leaves one group who might be eligible for a health savings account, that is, they have a high deductible health plan but they're still paying a lot out of pocket. For them, a health savings plan by itself won't be much help. What they really need is to get on a plan with lower deductibles. If that's you, it might mean paying more in premiums, but you can shop around for a plan that won't nickel and dime you to death after meeting the deductible. Now, no matter what your medical costs are, you can also think outside the box, and contact our friends at Christian Healthcare Ministries. You'll find them online at CHministries.org. They have medical sharing plans that could save you a bundle while meeting your healthcare needs. On today's program, Rob also answers listener questions: ● How can you begin investing with an inheritance? ● Does it make sense to use retirement funds to pay off a mortgage early? ● Is it wise to do a cash-out refinance on a mortgage to pay off consumer debt? RESOURCES MENTIONED: ● Betterment ● Wealthfront ● Schwab Intelligent Portfolios Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

This episode Dr. Dahle and Dr. Spath answer questions about health insurance. They talk about PPOs vs. HDHP plans. They discuss the difference between co-pays and out-of-pocket maximums. They cover the difference between bronze and silver and platinum plans and talk about why HSAs are so awesome. They answer questions about when you should or should not pay cash for your house and if 1099 employees need to create an LLC or not. See the full show notes here: https://www.whitecoatinvestor.com/employer-health-insurance-plans-and-ppo-versus-hdhp-266  Now is a great time to start thinking about reviewing your last tax plan or starting a new one to make sure you're taking advantage of all the available strategies. Waiting too long into the year can result in lost opportunities to keep more of your hard-earned money in your pocket!  If you haven't heard about Cerebral Tax Advisors, physicians all over the country work with them to lower their personal and business taxes through court-tested and IRS approved tax strategies. Medical professionals rely on Cerebral Tax Advisors for proactive tax planning strategies for doctors, helping them lower their effective tax rate and increase their wealth.  Alexis Gallati, founder of Cerebral Tax Advisors, has nearly two decades of experience in high level tax planning strategies and multi-state tax preparation. She's also the author of the book “Advanced Tax Planning for Medical Professionals”, grew up in a family of physicians and is married to one. Cerebral's services are flat-rate and they are focused on their client's return on investment.  If you'd like to find out more or schedule a free consultation, visit their website at https://www.cerebraltaxadvisors.com  The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you! Main Website: https://www.whitecoatinvestor.com  YouTube: https://www.whitecoatinvestor.com/youtube  Student Loan Advice: https://studentloanadvice.com  Facebook: https://www.facebook.com/thewhitecoatinvestor  Twitter: https://twitter.com/WCInvestor  Instagram: https://www.instagram.com/thewhitecoatinvestor  Subreddit: https://www.reddit.com/r/whitecoatinvestor  Online Courses: https://whitecoatinvestor.teachable.com  Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter 

With the pandemic and higher living costs, financial wellbeing is a matter that employers are prioritizing to reduce the impacts on employees. In this episode, our benefits delivery experts discuss outcome-focused communication strategies for employers so they can help their employees enrolled in high deductible health plans (HDHP) take full advantage of their health savings accounts (HSA).

Tune in for some high-level guidance to determine if a high deductible health plan (HDHP) with a Health Savings Account (HSA) is a smart choice. And, if you are a Pearl Jam fan you can sing the episode title to the tune of Jeremy if you'd like!

In this episode, Dr. Christopher Tookey and Dr. Rose Wolbrink share some thoughts about High Deductible Health Care Plans and Health Savings Accounts.  A disclaimer, we're providing general guidance but everyone is different and you should always discuss with your health care professional management of any disease and therapy before trying anything you discover from a source on the internet (including this podcast) 

Action Items:Listen to Episode 20Evaluate Health Plans and choose a HDHP if possible.Maximize HSA first.Invest HSA (check out Schwab's investable HSA).Consider a one-time IRA to HSA transfer.

In this episode of The Economic Review, I examined the possibility of HSA-expansion in healthcare reform. Highlights include: -A look at how HSAs are beneficial to HDHP policy holders -The current beliefs and attitudes of U.S. adults toward HSAs -How HSAs could provide a bipartisan path to healthcare reform -The effect expanding HSAs would have on the healthcare system, including decreased costs

In our last episode, we covered so much material about tax including terminology, the US tax system, and retirement accounts. One topic that came up but we didn't get to discuss extensively was Health Savings Accounts or HSA.   I was going to let this go as I always have an endless list of topics I wish I could have covered with my guests but both Sean and I agreed HSAs were too important of a topic to be left unturned. So Sean agreed to come back on and share more of his knowledge.   A high deductible health plan paired with a HSA can be a great option to consider for young adults with no chronic medical issues.   This episode acts as a part 2 to the former so if you haven't listened to episode 39, I recommend that you do that first. This short episode is packed with a ton of information including what an HSA is, how to identify if you're a candidate for a high deductible health plan, the mechanics of how an HSA works, and how HSAs can be used as a retirement account.   Reminder that this discussion is general and educational in nature and does not constitute tax, investment, legal, or financial advice with respect to any particular individual or taxpayer. Please consult your own advisors regarding your own unique situation.   Show Notes: [2:32] What is an HSA and who qualifies [9:46] Is a HDHP for me? [15:12] What's a qualified medical expense?   Favorite Quotes: [7:50] “A HDHP is not optimal medical insurance coverage for every person but for a lot of young folks, it can work really well.” [18:48] “There is no time limit on reimbursing yourself out of your HSA for your old medical expenses.”   Mentions: IRS Publication 502: https://www.irs.gov/forms-pubs/about-publication-502   More of Sean: www.FITaxGuy.com www.mullaneyfinancial.com   More of Justin & The Struggle is Real: Show Notes: https://justinpeters.co/thestruggleisreal/ Instagram: https://www.instagram.com/justinleepeters/ YouTube:https://www.youtube.com/channel/UC0yHxQvHpSdx_gJiQJpVCIQ?view_as=subscriber Apple Podcast: https://podcasts.apple.com/us/podcast/the-sandbox-with-justin-peters/id1496701179?fbclid=IwAR26mTFgNRnMCdJjzA4FHTT6MvLKkuqGbx3rWm7J7UBM8ERVIiIV1Baj0IY Spotify: https://open.spotify.com/show/701hEq4AKxseYuY79xjpSJ

#030  - Why Your High Deductible Health Plan Is Not As High As You Think exposes the misperception that an HDHP is too expensive.  Scott W. Dowling provides a real world example - from close to home - that illustrates why there is no advantage to having a traditional low deductible plan and how it ultimately costs you more compared to a High Deductible Health Plan.Focus on Out Of Pocket Maximum - Not DeductibleThe total amount you may spend on an insurance claim includes the amount you pay for the insurance premium plus the total amount you pay Out Of Pocket.  Out of Pocket includes deductibles and coinsurance amounts.  The maximum Out Of Pocket cost is expressly stated in the plan description.  Make certain to locate the maximum Out Of Pocket amount in the plan description when you are comparing your options.  Even plans with $250 or $500 deductibles can have maximum Out Of Pocket amounts over $10,000 and even $15,000 annually.The Goal:  Pay the least amount of premium AND the least amount in claimsYour goal is to pay the least amount of money while ensuring you are 100% covered.  The money you pay for premium is part of the total you need to consider when comparing your options.  Lower deductible plans cost more in premium than higher deductible plans.  Out Of Pocket costs are capped at a certain amount as stated in the plan design.  The maximum Out Of Pocket states the limit that insurance plan will start to cover all of your remaining annual expenses at 100% - meaning you have nothing further to pay for claims during that annual period.  Know your Out Of Pocket maximum.A High Deductible Health Plan with a Health Savings Account costs less overallA High Deductible Health Plan (HDHP) with a Health Savings Account (HSA) costs less in annual premium than a traditional PPO or HMO plan.  Depending on your tax bracket, a traditional PPO or HMO plan can cost 20% to 30% or more for Out Of Pocket costs compared to an HDHP with an HSA.  When you pay your Out Of Pocket costs with your HSA, the money you spend has not been taxed.  When you pay your Out Of Pocket costs for a traditional PPO or HMO plan, the money you spend has already been taxed.  For example, an individual in the second lowest marginal tax bracket, 22%, will spend 28% MORE on Out Of Pocket expenses.  $10,000 paid from your HSA is the same as $12,820 if you have a traditional PPO or HMO.   A PPO or HMO costs a lot more money!I prefer Lively HSA (full disclosure, I receive a nominal fee from Lively...at no cost to you)Surprise!  Blowing Through Your Out Of Pocket Maximum On One Claim Is Very Easy To DoThis example may be relatable for many of you who either participate or are parents of those who participate in competitive athletics.  All of the kids in the family have been competitive athletes into college.  Our rugby player had an unfortunate accident that required surgery - on his thumb!  A broken thumb doesn't sound that bad, but after 3 days of visiting a clinic, getting an x-ray, a second opinion and then surgery including 9 screws and a plate, the total claim came in at over $15,000.  And that's at the network discount!  We're easily through the annual Out Of Pocket maximum......for a broken thumb!!!!Thanks, as always, for listening to Doxcost.  We appreciate you very much!  Please tell your family, friends, coworkers, boss, office manager and/or firm administrator about Doxcost.  Listen wherever you get your podcasts.www.doxcost.comHear more music from my pal, Morgan Fingleton, here!