HSAs are savings accounts where you save pre-tax dollars that can be used for certain medical expenses that your health insurance is not paying for.
Introduction I’m in the midst of preparing an epic post on FMLA, but an accumulation of events in my personal and professional lives has inspired me to address some basics of estate planning that are tied to benefit plans. A lot of this can be rather depressing – some of the scenarios we talked about […]
Introduction Disability insurance, both short- and long-term, is a valuable part of your overall financial plan. It offers income protection for periods of serious illness or injury. Many employers offer one or both of these benefits, often free or at very reasonable cost. It is also possible to buy individual short and long term insurance […]
What is COBRA? People have often heard of COBRA health insurance coverage but aren’t really sure what it is or how it works. The term COBRA actually stands for Consolidated Omnibus Budget Reconciliation Act. It’s a title often applied to giant budget bills passed by Congress, generally appended by the appropriate year. But when most […]
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 […]
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 […]