4 Types of FSAs & How They Work
Posted: April 28, 2022
4 Types of FSAs & How They WorkAn FSA, or “Flexible Spending Account,” can be an excellent benefit to offer your employees, and to your business bottom line, as the contributions are pre-tax. Several types of FSAs are available: Medical Expense FSA These accounts pay for eligible medical costs, prescription drugs, copayments, deductibles, medical devices, and other costs. Another option, a “limited medical FSA,” can cover the cost of preventative healthcare services,...
4 Types of Health Insurance and How to Choose One
Posted: April 25, 2022
4 Types of Health Insurance and How to Choose OneIf you need to buy health insurance, you can choose from four basic types of policies. These policies vary in monthly cost, benefits, and deductible. The Affordable Care Act The Affordable Care Act (ACA, or “Obamacare”) made it impossible for health insurance companies to deny you health insurance due to an existing condition. Whatever your current state of health, you have the right to purchase...
6 Mortgage Protection Myths Debunked
Posted: April 22, 2022
6 Mortgage Protection Myths DebunkedBuying a home is one of life’s most significant, and expensive, milestones. When you find the ideal property, you will be required to jump through several hoops to get a mortgage. Some home buyers are required to purchase mortgage insurance, while others choose to purchase mortgage life insurance – there are two distinct products. Before investing in any mortgage protection insurance, get the facts and...
Common Medicare Insurance Pitfalls to Avoid
Posted: April 21, 2022
Common Medicare Insurance Pitfalls to AvoidYou are eligible for Medicare and have probably been looking forward to the lower cost of health insurance. If you are nearing age 65, you need to be aware of the common pitfalls that many eligible people have experienced: You did not sign up during your initial enrollment period. You have a seven-month period to sign up for Medicare, running from three months before your...
Can Employers Reimburse Employees for Health Insurance?
Posted: April 13, 2022
Can Employers Reimburse Employees for Health Insurance?Since 2020 with the enactment of the “21st Century Cures Act,” employers of any size could reimburse their employees for the costs of individual health insurance plans. The Affordable Care Act required employees with 50 or more employees who worked at least 30 hours per week, to offer health insurance. With a vast majority of US businesses having less than 50 employees, many people working...