Laura Saunders
speaker
5,937 appearances
109 recordings
1 series
first heard Jul 2017
last heard Nov 2024
Laura Saunders’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Health Savings Accounts: Don’t Overlook the Tax Benefits · 19 Oct 2022
podcast
It could be co-pays to drug costs to acupuncture, contact lens solution, prosthetic limbs, a wig after chemotherapy, even Band-Aids and things like that.
And so you could use this money for those expenses if you want to.
and you could leave it in for 20 or 30 years.
You could put it in when you're young and healthy and pay your expenses out of pocket yourself, and it could grow and grow and grow and come out to pay Medicare premiums and things like that.
It also can be a rainy day fund.
If you pay your medical expenses out of pocket, but you save all your receipts, maybe you need a few thousand dollars tax-free sometime.
You just ask for a reimbursement because you've got the receipts for the charges, even if the charges were 10 or 15 years ago.
It can go back to the beginning.
And it can even be used after you die by your executor within a year.
An FSA is a flexible spending account and you put pre-tax dollars into it, but it's use it or lose it.
You have to use it, you know, in the year and you have to submit receipts to your company and they vet it and then they pay you back.
But if you don't use the money, it's gone.
With HSAs, you could put in the money in, you know, 2015 and take it out in 2040 or something.
Well, they can be claimed for Medicare Part B and Part D premiums, also for Medicare Advantage premiums.
You can't use them for Medigap premiums, but they can also be claimed for COBRA premiums.
Those are amounts that you pay for health coverage through a prior employer.
So, you know, you could let these things build for a long time if you leave your job and money is a little tight.
You could withdraw the money for the COBRA premiums.
Well, this is an amazing thing.
As we all know, many young people who have gotten out of college are on their parents' plans till age 26.
Showing 1021–1040 of 5,937 · page 52 of 297
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