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Wednesday February 24, 2021

Do I Need to Sign Up for Medicare If I Am Still Working?
Savvy Living
I will turn 65 in a few months and plan to keep working for several more years. I have good health insurance from my employer now. Do I have to sign up for Medicare when I reach 65? If your health insurance is covered through your employer, the decision to enroll in Medicare at 65 will depend on the size of your employer and your plans to continue working. The same rules apply if your health insurance comes from your spouse's employer. First, let us review the basics. Original Medicare has two parts. Part A provides hospital coverage and is free for most people. Part B covers doctor's bills, lab tests and outpatient care. Part B has a monthly premium, which is $148.50 for most beneficiaries in 2021, but higher for individuals earning above $88,000. If you are already receiving Social Security, you will automatically be enrolled in parts A and B when you turn 65. You will receive...
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Flexible Spending Account Options for 2021
Washington News
A flexible spending account (FSA), also known as a "cafeteria" plan, enables individuals to pay for medical or dependent care expenses. There are at least 33 million employees in the U.S. who use their FSA to pay for various medical expenses. An FSA is sponsored by many employers and allows contributions of pretax funds to the account. In 2021, an individual may contribute a maximum of $2,750. In most years, unused funds over 20% of the contribution limit are not permitted to be carried forward to the following year. This is often called the "use–it–or–lose-it" rule. However, the Consolidated Appropriations Act of 2021 was passed in December 2020 to provide COVID–19 pandemic relief. This bill permits employers to amend FSA plans and allows an unlimited carryover of funds from 2020 to 2021 and from 2021 to 2022. Individuals are permitted to make plan changes...
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Gifts of Stock
Personal Planner
What will the market do this year? Perhaps the best answer is, "It will go up and down." Stock returns vary to a...
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