While the grace period under a Flexible Spending Account (FSA) offers valuable extensions and benefits, it is important to consider the potential drawbacks associated with this provision. Understanding the limitations of the grace period is crucial for individuals seeking to make informed decisions regar...
How Much Is Inflation Costing You? Calculate how your buying power has changed over the years. Maryalene LaPonsieJan. 23, 2025 What to Do if You Fall Behind on Bills The most important thing you should do is stay in touch with your creditors and prioritize your payments. ...
Money going toward travel in retirees’ 60s and 70s is often shifted toward health care in their 80s and 90s. "Building some flexibility into your retirement plan and annual spending will be important," he said. "The ability to cut back in years if we see prolonged downturns will go a lo...
Some of its provisions are in full force and effect and have become familiar to us. This article focuses on some unique aspects of the law specifically applicable to account-based health plans. [ FROM AUTHOR]McLeeseKarenR.EBSCO_bspBenefits Law Journal...
An overview of qualified medical expenses covered by a Dependent Care Flexible Spending Account (DCFSA).
While money market accounts and money market funds have similar names, they are very different. Most notably, money market funds are considered an investment because they are a type of mutual fund. They are not covered by FDIC insurance, and you could lose your principal. Here is a breakdown...
Learn more about income taxes, how they work, and how to figure out how much of your hard-earned cash is going to the IRS every year.
Another type of FSA is adependent-care flexible spending account, which is used to pay for child-care expenses for children age 12 and under and also can be used to pay for the care of qualifying adults, including a spouse, who can't care for themselves and meet specific Internal Revenue...
A health savings account (HSA) is essentially a personal savings account that can be used only for qualifying medical expenses. To be eligible, you must be enrolled in ahigh-deductible health plan (HDHP).HSAs have certain tax advantages, so many people use them as retirement plans...
they meet certain conditions. The deduction may be reduced or phased out if either the taxpayer or their spouse was covered by a retirement plan at work during the year. The phase-outs don't apply if neither the taxpayer nor their spouse is covered by an employer-sponsored retirement plan....