In part one of this series, we covered the health savings account (HSA) from a high level. We learned it is a special tax-exempt account that we can use to pay medical expenses. This packs a pretty nice punch. But there are other things to consider and rules to follow before you can join Max’s HSA cult. In part two, we went over the risk the IRS expects us to take on in exchange for...
I have to say, I am surprised by what I am seeing with the COVID-19 progression over the last few weeks. Max is generally pretty even-keeled about things like this. As such, I have been in the “hey, aren’t we overreacting a bit here?” camp for a while now. But the changes over the last few days have certainly gotten my full attention. For me, the global response over the last week has been both...
Well, it’s time to get back to business here at Max Out of Pocket. It is already February and we haven’t even touched on where Medicare Part B premiums came in for the calendar year 2020. Even though I am 30 years or so out from Medicare coverage, I still watch these numbers closely. You should too. They may come sooner than you think. So let’s get right to it. In 2020, the Medicare Part...
Ever wonder how much we will have to pay for Medicare Part A premiums? Probably not. It’s a long way off for many of us. For others, it’s not as far off as it used to be. Then there are some already on Medicare Part A and have absolutely no idea how much it is costing them in out-of-pocket premiums. Since I consider healthcare one of the pillars of personal finance, it’s important for us...