Why a High-Deductible Medicare Supplement Plan May Be the Best Choice for Some ClientsCharles Mankamyer
High-deductible health plans (HDHPs)– plans with deductibles of more than $1,000 for individuals and more than $2,000 for families– have been around since the mid-2000s and have grown in popularity since. From the employer’s perspective, HDHPs solve two problems: They s...
An HSA, offered alongside a High Deductible Health Plan, provides a triple tax advantage. Employees can use pre-tax dollars to pay for qualified healthcare expenses and enjoy tax-free asset growth for future needs, like retirement healthcare expenses. Right now, the addressable market for ...
On the other hand, lower-income employees can benefit more from low-deductible plans with predictable out-of-pocket costs. Health history and preference Another critical factor you need to consider is the health history of your employees. Do any of your workers have chronic conditions? This nee...
A Health Savings Account is a tax-advantaged savings account that you can use to pay for or pay yourself back formedicalexpenses. In order to qualify for an HSA, you need to be covered by a high-deductible health plan. HSAs are meant for everyone, but are especially beneficial tomillenni...
And while HSAs have a lot of benefits, they aren’t for everyone. Because participants must be on a high-deductible plan to have an HSA, that can be a deal-breaker for some. Choosing a health plan during open enrollment will depend on your situation and the options available to you. ...
When choosing your pet insurance plan, providers typically recommend at least three deductibles to choose from. The prices range from low, to middle and high. Now you may be thinking — how do I pick? Well, you'll have to evaluate your situation carefully. Ask yourself important questions li...
If you hold digital assets for a year or less, your capital gains are considered short-term and taxed as ordinary income, which can be as high as 37% depending on your federal tax bracket. Note that individual filers don't have to pay any federal capital gains tax if their total ...
For health insurance plans that have prescription deductibles, insured parties must pay a certain amount out-of-pocket before the plan begins to pay their share. Some plans have combined deductibles, meaning medical and prescription costs count toward the same deductible. Many health plans provide so...
Even a person with significant health issues might find that a high-deductible plan and the ability to save tax-free in an HSA is a better deal. "Where people get into trouble is if they have a really high deductible [they can't meet]." In that case, they need to either save up ...