Financial Planning

Are Health Savings Accounts a Good Investment?

Posted on Sep 17, 2013

A growing trend in both individual and employer sponsored healthcare, using a health savings account (HSA), is a great option for some. HSA accounts are bank accounts that are  paired with a high deductible health plan (HDHP), and are primarily used to pay for medical expenses. One of the chief advantages is that this money can be used tax free, which roughly equates to a 25% savings on health care expenses that are paid from the account. Another perk is that once the account reaches a certain amount, that money can be invested in stocks, bonds, and mutual funds. HSAs are growing in...

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Large Group Bulletin: Taxes and Fees

Posted on Aug 30, 2013

Although the employer mandate has been delayed for a year, other important changes are coming for large group employers (over 50 employees). Certain taxes and fees may affect large businesses as a result of the Affordable Care Act. Anthem has put together a guide to help employers make sure they know what’s coming, and what they may need to do to stay in compliance. New fees included in this guide are: Comparative effectiveness research fee (CER or PCORI fee) ACA Insurer Fee (Health Insurance Tax) ACA Reinsurance fee Employer mandate penalty (Delayed until 2015) Make sure your business is...

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How Individual Insurance Subsidies Will Be Reconciled

Posted on Aug 5, 2013

The Affordable Care Act enacts that individuals under a certain income threshold will be eligible to receive Advanced Premium Tax Credits to help offset the cost of health insurance coverage, starting January 2014. They will be paid from the federal government directly to insurance companies. At the end of each year, reconciliation between an individual’s stated and actual income will occur through the filing of income taxes. To learn more about Advanced Premium Tax Credits, and if you may be eligible to receive a subsidy, click here. Most likely there will be some variation in one’s...

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End of Life Care: When is enough, enough?

Posted on Jun 5, 2013

Anyone who’s ever dealt with the terminal illness of a loved one understands the emotional, physical, and often financial stress a family takes on during an exceedingly difficult time. Tough decisions must be made by all, but are these choices really in the best interest of the family, or the dying person? Shockingly, 1/4 of all Medicare dollars are spent on only 5% of those beneficiaries who are in their last year of life. This amounts to over $125 billion. One study conducted by Dr. Jonathan Bergman of UCLA estimated that 1/3 of total lifetime health care costs are spent in the last year...

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How much can I contribute to my health savings accounting for 2014?

Posted on Jun 1, 2013

Here’s what you need to know about Health Savings Accounts (HSA) for 2014: HDHP Minimum Deductible Amount Individual                                                        $1,250 Family                                                              $2,500 HDHP Maximum Out-of-Pocket Amount Individual                                                         $6,350 Family                                                              $12,700 HSA Maximum Contribution Amount Individual                                                        $3,300...

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Health Savings Account Limits for 2010

Posted on Apr 1, 2010

If you have a health savings account (HSA) plan, please be advised of the new limits for 2010. These amounts for 2010 as compared to 2009 are shown below. The catch-up contribution limit prescribed by statue is also included.     If you would like to learn more about the benefits of HSA plans, we have additional information on our HSA page. To review HSA plan quotes (for individuals and families) use our free, online quoting system. If you are an employer and want to learn more about HSA plans for your business, please call 970-484-1250 to speak with a benefits...

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