If you choose a High Deductible Health Care Plan (HDHP) for your health insurance plan, you probably have the option of adding a Health Savings Account (HSA). What Is An HSA Account? A Health Savings Account is a way to save pre-tax money to pay for qualified medical expenses. It was introduced in 2003 by […]
Category: Open Enrollment
Posts about Open Enrollment.
In my previous post, I talked about evaluating the cost and coverage aspects of health insurance plans. In this post we’ll look at how those pieces come together in common types of medical plans. One thing you’ll see is that you’ll often “pay” for lower costs with reduced choice or flexibility. Today’s Definition Network: A […]
If you have multiple medical plans available at work, you will have to balance cost and coverage while making your choice. The best plan for your situation is not always obvious. Things can get even more complicated if your spouse or partner also has access to health insurance or if you have children. Definitions – […]
Explanation of FSAs Flexible Spending Accounts (FSA) are a way for employees to save pre-tax dollars to use for certain expenses. Since maximum election limits are in the thousands per year, you have the potential to save a significant amount in federal taxes. Your state might treat FSA contributions differently for tax purposes than does […]
It’s currently late November, the time of year when many people are faced with open enrollment at their jobs. While some organizations hold open enrollment at different times of year -in higher education, for example, it commonly falls in late spring for a June 1 or July 1 effective date because of the fiscal year […]