Fom the P&C Files: Flo meets Darth

 

Original content copyright © InsureBlog

Comments

Post a Comment

Popular posts from this blog

More CV-19 Alphabet Soup

Image
From our good friends at FlexBank/Navia , two new items: First up, ' Claims Run-out Deadline Extended for COVID-19 FSAs & HRAs .' At the end of last month, The Feds (Departments of Labor, Revenue, and Treasury) issued guidelines relaxing the benefit extensions for ' certain group health plans ' during this meshugas . These include disregarding the 'Outbreak Period,' that is, The Feds 'r ecognized that participants may find it difficult to comply with certain pre-established timeframes .' Paging Captain Obvious. To that end, the ' date within which participants must file a claim under your tax-free FSA or HRA plan's claims procedures has been extended to 60 days after the end of the Outbreak Period. ' Note that folks still have to incur eligible expanses in order to be reimbursed, just that there's now some flexibility in the timing of those reimbursements. Click here for more details on that. Next up, ' COBRA Timeframe Extension...
Read more

Math is hard

Image
Especially in these difficult times. On the plus side, I recently received this news in email from the Feds: ' Helping consumers calculate their income can be challenging, especially for those who are self-employed or have income that is difficult to predict. The Centers for Medicare & Medicaid Services (CMS) has released a new tool to make this process easier! The new income calculation tool allows consumers to add previous income, unemployment benefits (including federal pandemic unemployment compensation), and expected future income to calculate their income .' They've even supplied a helpful video: Feeling frisky? Well then, click here to test drive the new tool itself. Original content copyright © InsureBlog
Read more

Can I Have Medicare and an HSA?

Image
Is it OK to have an HSA plus Medicare? Can I still make contributions once I enroll in Medicare? How about my younger spouse? What else do I need to know? When you enroll in Medicare Part A or B, you can no longer contribute to your Health Savings Account. When your Medicare begins, your account administrator should change your contribution to your HSA to zero. If you have a spouse who also has an HSA, money can be deposited for him or her. A Health Savings Account is a bank account, not insurance. HSA's have a single owner. Joint ownership is not an option. You may continue to withdraw money from your HSA after you enroll in Medicare to help pay for medical expenses, such as deductibles, (some) premiums, copayments, and coinsurances. If you use the account for qualified medical expenses, its funds will continue to be tax-free. If you sign up for Part A after turning 65, Medicare will automatically backdate your Part A effective date by up to 6 months . If you enroll in July, yo...
Read more