Are High-Deductible Health Plans Right for Your Older Clients?
Reaching age 55 appears to be a pivotal year when it comes to making critical decisions about finances, retirement planning and health care. One trend we see receiving more consideration is the use of high-deductible health plans across the insurance spectrum for those over 55. Frequently paired with HDHPs are health savings accounts designed to ensure clients can meet their cost obligations now and manage their health-care costs in retirement.
Employee Ignorance Is Not Bliss on Retiree Health Costs
Many employees, already under the gun to save enough to pay for non=medical expenses in retirement, are in even worse shape when anticipated future medical costs are factored in. How many of your employees will be short of money in retirement if they ignore the prospect of requiring long-term care? Answer: All of them.
CDHP Transition Troublesome for Employers, Employees Alike
For companies transitioning to a CDHP, the most important point to keep in mind is that the health plan a business adopts may not be as critical as how the business handles the transition to the plan. Consider some of the tactics in this article to effectively transition to a new plan.
Health Savings Account Solely for Medical Expenses
I need to know if my high-deductible plan meets Obamacare rules so I don’t have to pay a penalty. Also, my car insurance payment is due next month and I would like to use $550 from my HSA to pay the bill and then, when I incur medical costs later in the year, I’ll just pay the cost myself. Do you know if that’s OK?
If you are expecting a tax refund this year, you need a plan for this money. Experts agree that the smartest thing to do with a little extra money is to use it in a way that benefits your budget, generates extra income, or helps you achieve financial peace of mind. This can be accomplished in several ways. For example, if you participate in a health insurance plan with a high deductible, you may be eligible to open and contribute to an HSA.