This newsletter from Cedar Point Financial Services provides information on several financial topics related to health, retirement, and insurance. It includes an article on options to consider if a term life insurance policy is set to expire, such as purchasing a new term policy, renewing the existing policy, or converting the policy to permanent life insurance. It also includes articles on the financial implications of chronic illness and whether to enroll in a health savings account.
A Woman's Guide to Health Care in RetirementDolf Dunn
Health care in retirement can be one of the largest expense items for people, especially women. It is crucial you plan on these costs in your retirement budget. Need help? Give us a call.
At any age, health care is a priority. When you retire, however, you will probably focus more on health care than ever before. Staying healthy is your goal, and this can mean more visits to the doctor for preventive tests and routine checkups. There's also a chance that your health will decline as you grow older, increasing your need for costly prescription drugs or medical treatments. That's why having health insurance can be extremely important for older Americans..
Sample financial planning recommendation from citidellGregory Atoko
This is how we do financial planning recommendations at Citidell. Treat yourself to this good service. It can very easily be one of your best decisions of the year.
A Woman's Guide to Health Care in RetirementDolf Dunn
Health care in retirement can be one of the largest expense items for people, especially women. It is crucial you plan on these costs in your retirement budget. Need help? Give us a call.
At any age, health care is a priority. When you retire, however, you will probably focus more on health care than ever before. Staying healthy is your goal, and this can mean more visits to the doctor for preventive tests and routine checkups. There's also a chance that your health will decline as you grow older, increasing your need for costly prescription drugs or medical treatments. That's why having health insurance can be extremely important for older Americans..
Sample financial planning recommendation from citidellGregory Atoko
This is how we do financial planning recommendations at Citidell. Treat yourself to this good service. It can very easily be one of your best decisions of the year.
Like most, unless you know someone who has been disabled, you may not see the value of Disability Insurance. You may think it won't happen to you, but if it does, you are vulnerable to lost income.
Review this presentation to understand how health insurance actually works and then visit us online at www.selectmycoverage.com to obtain a quote and apply
Retirement opens up a seemingly limitless world of possibilities. But all those choices can be a bit intimidating. The good news is with a bit of care, forethought and preparation, you can not only plot out a successful, fulfilling retirement, but also ensure you’ll have the funds on hand to pay for it.
The following tips can help.
LifePlan is such a policy. It offers you a bespoke range of protection benefits to perfectly fit your family’s specific needs. No two LifePlans are ever the same, and in this sense you and your trusted adviser will truly create a comprehensive policy suitable for your life now
and in the future.
the choice of financial professionals
Print
Digital
Websites
Creative
Marketing
Personalised Client Marketing Factsheets
You may also be interested in
Financial adviser newsletters
Financial adviser client magazines
Personalised marketing factsheets
Financial adviser Corporate brochures
Personalised 2014/15 Tax Data card
Bespoke publishing services
Financial adviser client marketing factsheets
Goldmine Media's professional financial adviser factsheets will enable your business to extend client communication, raise brand awareness, improve marketing efficiency, enhance client retention and increase sales.
Generate further repeat business opportunities
This service has been designed to generate further repeat business opportunities and referrals from your clients. Besides educating and informing clients, you're also achieving greater brand and name recognition, which is a very beneficial way to build lasting relationships.
Nurture relationships as part of your ongoing service proposition
In a post-RDR environment, there has never been a more important time to communicate with your clients on a regular basis, and each factsheet will ensure that you're able to nurture relationships as part of your ongoing client service proposition.
Each factsheet used as part of a direct mail campaign provides an unrivalled way of maintaining client contact and providing information that your clients know to be impartial, relevant and timely.
Retirees: Important Questions About Finances309finance
Baby Boomers are retiring and approaching retirement age at a very fast rate and with a very high volume. Many of the baby boomers as well as anyone reaching retirement might have questions about financial security or personal finances. This slide presentation is just a quick guide to popular retirees questions that you might encounter as well as questions regarding retirement and finances.
Note: we are not making any recommendations or advice via the slides. Our goal is to provide information to help you research and understand the challenges being faced by retirees.
Presented by: www.309finances.com
For Those Who Want to Prosper & Thrive in Retirementfreddysaamy
http://ekinsurance.com/financial/retirement/
Our core capital should be designed to outlive us. In fact, it’s important for you to start thinking about your money in terms of it outliving you, not the other way around. You don’t want to outlive your money.
Like most, unless you know someone who has been disabled, you may not see the value of Disability Insurance. You may think it won't happen to you, but if it does, you are vulnerable to lost income.
Review this presentation to understand how health insurance actually works and then visit us online at www.selectmycoverage.com to obtain a quote and apply
Retirement opens up a seemingly limitless world of possibilities. But all those choices can be a bit intimidating. The good news is with a bit of care, forethought and preparation, you can not only plot out a successful, fulfilling retirement, but also ensure you’ll have the funds on hand to pay for it.
The following tips can help.
LifePlan is such a policy. It offers you a bespoke range of protection benefits to perfectly fit your family’s specific needs. No two LifePlans are ever the same, and in this sense you and your trusted adviser will truly create a comprehensive policy suitable for your life now
and in the future.
the choice of financial professionals
Print
Digital
Websites
Creative
Marketing
Personalised Client Marketing Factsheets
You may also be interested in
Financial adviser newsletters
Financial adviser client magazines
Personalised marketing factsheets
Financial adviser Corporate brochures
Personalised 2014/15 Tax Data card
Bespoke publishing services
Financial adviser client marketing factsheets
Goldmine Media's professional financial adviser factsheets will enable your business to extend client communication, raise brand awareness, improve marketing efficiency, enhance client retention and increase sales.
Generate further repeat business opportunities
This service has been designed to generate further repeat business opportunities and referrals from your clients. Besides educating and informing clients, you're also achieving greater brand and name recognition, which is a very beneficial way to build lasting relationships.
Nurture relationships as part of your ongoing service proposition
In a post-RDR environment, there has never been a more important time to communicate with your clients on a regular basis, and each factsheet will ensure that you're able to nurture relationships as part of your ongoing client service proposition.
Each factsheet used as part of a direct mail campaign provides an unrivalled way of maintaining client contact and providing information that your clients know to be impartial, relevant and timely.
Retirees: Important Questions About Finances309finance
Baby Boomers are retiring and approaching retirement age at a very fast rate and with a very high volume. Many of the baby boomers as well as anyone reaching retirement might have questions about financial security or personal finances. This slide presentation is just a quick guide to popular retirees questions that you might encounter as well as questions regarding retirement and finances.
Note: we are not making any recommendations or advice via the slides. Our goal is to provide information to help you research and understand the challenges being faced by retirees.
Presented by: www.309finances.com
For Those Who Want to Prosper & Thrive in Retirementfreddysaamy
http://ekinsurance.com/financial/retirement/
Our core capital should be designed to outlive us. In fact, it’s important for you to start thinking about your money in terms of it outliving you, not the other way around. You don’t want to outlive your money.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
Seminar: Gender Board Diversity through Ownership Networks
September 2018 Newsletter
1. Cedar Point Financial
Services LLC®
Todd N. Robison, CLU
President
10 Wright Street
2nd Floor
Westport, CT 06880
203-222-4951
todd.robison@cedarpointfinancial.com
www.cedarpointfinancial.com
September 2018
Infographic: Working in Retirement
The Financial Implications of a Chronic Illness
Should I enroll in a health savings account?
I just received a large bill for a recent hospital
visit. How can I check whether it's accurate?
Cedar Point Monthly Newsletter
Elegant solutions to complex financial issues
What to Do If Your Term Life Insurance Policy Is About to Expire
See disclaimer on final page
Have questions? I can help.
Email Me:
todd.robison@cedarpointfinancial.com
Visit My Website:
www.cedarpointfinancial.com
linkedin.com/in/toddrobison
Services:
Estate Planning
Retirement Strategies
Executive Benefits
Group Benefits
CA License #0B77420
One advantage of term life
insurance is that it is
generally the most
cost-effective way to
achieve the maximum life
insurance protection you
can afford. Many people
first purchase term life
insurance to protect their family's financial
interests after a significant life event, such as
getting married or the birth of a child.
You may have done the same for your family
when you purchased your policy years ago.
And chances are, other than paying the
premiums, you probably haven't given it much
thought since then. However, if your term life
insurance policy is set to expire in the near
future, it's important to explore your options
now before the coverage runs out.
Before you get started, you first need to
reevaluate your life insurance needs and
determine if anything has changed. Are your
children grown and have they graduated from
college? Do you have a mortgage? If you have
financial obligations that you need to take care
of, you may still need term life insurance. If you
are nearing retirement and have fewer financial
obligations than you did when you were
younger, your need for a term life insurance
policy may not be as great as it once was.
Purchasing a new policy
If you are in relatively good health and your
current term life insurance policy is about to run
out, you might consider purchasing a new term
policy altogether. When applying for a new term
life insurance policy, you will generally need to
pass a medical exam. In addition, since you are
older now, your premiums may be higher than
they were under your old policy. However, you
may not need as large a policy as you did when
you first purchased term life insurance years
ago. It may pay to shop around and compare
because premiums can vary among insurers.
Renewing your existing policy
When the coverage period for your term life
insurance ends, you may have the option to
renew the policy, depending on the specific
policy and limitations. Though you won't be
required to take a medical exam if you renew
your policy, the rate will generally increase
each time it is renewed for an additional term
because your age has increased (as has the
insurance company's risk of paying a death
benefit). These increased premium costs can
sometimes make renewing a term life insurance
policy an expensive way to cover your life
insurance needs.
Converting your policy to permanent
life insurance
If you have a convertible term life insurance
policy, you may be able to convert it to a
permanent life insurance policy, such as whole
or universal life insurance. Permanent
insurance continues throughout your life as
long as you pay the premiums. As with term
insurance, permanent insurance pays a death
benefit to your beneficiary at your death, but it
also contains a cash value account funded by
your premium dollars. When you convert your
policy, you won't need to prove your insurability
by taking a medical exam. However, there is
usually a conversion deadline, which is the date
by which you must convert, typically before
your term life insurance is set to expire.
The cost and availability of life insurance
depend on factors such as age, health, and the
type and amount of insurance purchased. As
with most financial decisions, there are
expenses associated with the purchase of life
insurance. Policies commonly have mortality
and expense charges. In addition, if a policy is
surrendered prematurely, there may be
surrender charges and income tax implications.
Any guarantees are contingent on the
claims-paying ability and financial strength of
the issuing company.
The rules governing 1035 exchanges are
complex and you may incur surrender charges
from your "old" life insurance policy. In addition,
you may be subject to new sales and surrender
charges for the new policy.
Page 1 of 4
3. The Financial Implications of a Chronic Illness
When you live with a chronic illness, you need
to confront both the day-to-day and long-term
financial implications of that illness. Talking
openly about your health can be hard, but
sharing your questions and challenges with
those who can help you is extremely important,
because recommendations can be better
tailored to your needs. Every person with a
chronic illness has unique issues, but here's a
look at some topics you might need help with.
Money management
A budget is a useful tool for anyone, but it's
especially valuable when you have a chronic
illness, because it will serve as a foundation
when planning for the future. Both your income
and expenses may change if you're unable to
work or your medical costs rise, and you may
need to account for unique expenses related to
your condition. Clearly seeing your overall
financial picture can help you feel more in
control.
Keeping good records is also important. For
example, you may want to set up a system to
help you track medical expenses and insurance
claims. You may also want to prepare a list of
instructions for others, such as a trusted friend
or relative, that includes where to find important
household and financial information in an
emergency.
Another step you might want to take is
simplifying your finances. For example, if you
have numerous financial accounts, you could
consolidate them to make it easier and quicker
for you or a trusted advisor to manage. Setting
up automatic bill payments or online banking
can also help you keep your budget on track
and ensure that you pay all bills on time.
Insurance
Reviewing your insurance coverage is
essential. Read your health insurance policy
and make sure you understand your
copayments, deductibles, and the nuts and
bolts of your coverage. In addition, find out if
you have any disability coverage, and what
terms and conditions apply.
You might assume that you can't purchase
additional life insurance, but this isn't
necessarily the case. It may depend on your
condition or the type of life insurance you're
seeking. Some policies will not require a
medical exam or will offer guaranteed
coverage. If you already have life insurance,
find out if your policy includes accelerated
(living) benefits. You'll also want to review
beneficiary designations. If you're married,
make sure that your spouse has adequate
insurance coverage, too.
Investing
Having a chronic illness can affect your
investment strategy. Your income, cash-flow
requirements, and tolerance for risk may
change, and your investment plan may need to
be adjusted to account for both your short-term
and long-term needs. You may need to keep
more funds in a liquid account now (for
example, to help meet day-to-day living
expenses or use for home modifications, if
necessary), and you'll want to thoroughly
evaluate your long-term needs before making
investment decisions. The course of your
illness may be unpredictable, so your
investment plan should remain flexible and be
reviewed periodically.
Estate planning
You might think of estate planning only as
something you do to get your affairs in order in
the event of death, but estate planning tools
can also help you manage your finances right
now.
For example, a durable power of attorney can
help protect your property in the event you
become unable to handle financial matters. A
durable power of attorney allows you to
authorize someone else to act on your behalf,
so he or she can do things like pay everyday
expenses, collect benefits, watch over your
investments, and file taxes.
A living trust (also known as a revocable or
inter vivos trust) is a separate legal entity you
create to own property, such as your home or
investments. The trust is called a living trust
because it's meant to function while you're
alive. You control the property in the trust and,
whenever you wish, can change the trust terms,
transfer property in and out of the trust, or end
the trust altogether. You name a co-trustee
such as a financial institution or a loved one
who can manage the assets if you're unable to
do so. There are costs and ongoing expenses
associated with the creation and maintenance
of trusts.
You may want to have advance medical
directives in place to let others know what
medical treatment you would want, or that allow
someone to make medical decisions for you, in
the event you can't express your wishes
yourself. Depending on what's allowed by your
state, these directives may include a living will,
a durable power of attorney for health care, and
a Do Not Resuscitate order.
Review your plan regularly
As your health changes, your needs will change
too. Make sure to regularly review and update
your financial plan.
There's no such thing as a
one-size-fits-all financial
plan for someone with a
chronic illness. Every
condition is different, so
your plan must be tailored
to your needs and
challenges, and reviewed
periodically.
All investing involves risk,
including the possible loss
of principal, and there is no
guarantee that any
investment strategy will be
successful.
The cost and availability of
life insurance depend on
factors such as age, health,
and the type and amount of
insurance purchased.
Page 3 of 4, see disclaimer on final page
4. Cedar Point Financial
Services LLC®
Todd N. Robison, CLU
President
10 Wright Street
2nd Floor
Westport, CT 06880
203-222-4951
todd.robison@cedarpointfinancial.com
www.cedarpointfinancial.com
Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2018
Securities offered through Kestra
Investment Services, LLC (Kestra
IS), member FINRA/SIPC. Cedar
Point Financial Services LLC is a
member firm of PartnersFinancial.
Kestra IS is not affiliated with
Cedar Point Financial Services or
PartnersFinancial.
I just received a large bill for a recent hospital visit. How
can I check whether it's accurate?
In today's complex world of
medical billing, you may have
difficulty understanding exactly
which procedures you're being
charged for, or what the billing codes on your
hospital bill mean.
The first step in determining whether your bill is
accurate is to know exactly what your insurance
does and does not cover. Review your health
plan's coverage brochure or contact your
insurer to find out about your plan's coverage
exclusions or limitations, expenses that are fully
or partially covered by your plan, and the
ramifications of using an out-of-network
provider.
Another helpful tool is an explanation of
benefits (EOB). The EOB will provide you with
a variety of information, such as the dates and
type of services provided, the amount that was
billed by the medical provider to the insurance
company, what the insurance company paid to
the provider, and the amount that wasn't
covered and for which you are responsible.
Review your EOB and compare it to your
medical bills. If you find any discrepancies,
contact your medical provider's billing
department.
Unfortunately, errors are a common occurrence
in the medical billing industry. As a result, it's
always important to request an itemized bill, as
opposed to just a summary of charges, from a
medical provider. An itemized bill is critical
when it comes to identifying billing errors
because it will detail each medical procedure
for which you are being charged. Once you've
received your itemized bill, check to make sure
that all of your identifying information (e.g.,
address, date of birth), dates of service, and
insurance information are correct. In addition,
you'll want to check for common billing errors,
such as charges for duplicate procedures or
incorrectly coded procedures.
If you find an error on your bill, contact the
billing department of the medical provider to
request a corrected insurance claim and/or bill.
Be prepared to explain the mistake to the billing
representative and provide copies of billing
records that illustrate the billing error.
Should I enroll in a health savings account?
A health savings account
(HSA) is a tax-advantaged
account that you can establish
and contribute to if you are
enrolled in a high-deductible
health plan (HDHP). Because you shoulder a
greater portion of your health-care costs, you'll
usually pay a much lower premium for an
HDHP than you would pay for traditional health
insurance. This allows you to contribute the
premium dollars you're saving to your HSA.
Then, when you need medical care, you can
withdraw HSA funds to cover your expenses, or
opt to pay your costs out-of-pocket if you want
to save your account funds. An HSA can be a
powerful savings tool, especially if your health
expenses are relatively low, since you may be
able to build up a significant balance in your
HSA over time. Before you enroll in an HSA,
ask yourself the following questions:
What will your annual out-of-pocket costs be
under the HDHP you're considering? Estimate
these based on your current health expenses.
The lower your costs, the easier it may be to
accumulate HSA funds.
How much can you afford to contribute to your
HSA every year? Contributing as much as you
can on a regular basis is key to building a
cushion against future expenses. For 2018, you
can contribute up to $3,450 for individual
coverage and $6,900 for family coverage.
Will your employer contribute to your HSA?
Employer contributions can help offset the
increased financial risk that you're assuming by
enrolling in an HDHP rather than traditional
employer-sponsored health insurance.
Are you willing to take on more responsibility for
your own health care? For example, to achieve
the maximum cost savings, you may need to
research costs and negotiate fees with health
providers when paying out-of-pocket.
How does the coverage provided by the HDHP
compare with your current health plan? Don't
sacrifice coverage to save money. Read all
plan materials to make sure you understand
benefits, exclusions, and all costs.
What tax savings might you expect? HSA funds
can be withdrawn free of federal income tax
and penalties provided the money is spent on
qualified health-care expenses. Depending on
the state, HSA contributions and earnings may
or may not be subject to state taxes. Consult
your tax adviser for more information.
Page 4 of 4