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How are health and personal finances related

WebHealth and personal finances are related in many ways. Perhaps the simplest association is the high cost of unhealthy habits. Kick a $5-a-day smoking habit, …

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What does it mean when you have pre-tax dollar health insurance

WebWhen you pay for benefits such as health insurance with pre-tax (also called before-tax) dollars, the deductions are taken off your gross income before income taxes …

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Does your health insurance premium go toward your deductible

WebIn most instances, the answer is no. Premiums and deductibles are two separate payments related to an insurance policy. A premium is paid to simply have …

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How do health savings account (HSA) contributions affect your …

WebFederal tax law limits the amount that can be contributed annually to health savings accounts. In 2013, the maximum annual contributions are $3,250 for individuals …

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How long should you keep Explanation of Benefit statements from

WebHang on to explanation of benefits (EOB) forms at least until you are sure that a particular medical bill has been paid in full from all sources (e.g., a combination of …

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Can I cancel my health insurance at any time if my premiums are

WebHealth insurance is canceled when you quit paying the premiums. Assuming that you will be receiving health insurance from another source in the future, work with …

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How do health insurance companies and Medicare determine …

WebGenerally, payment for health care services is based on UCR rates, and most coverage is only a percentage of what is determined to be UCR. For example, if a …

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Small Steps to Health and Wealth

WebUsers can also register online to set personal health and wealth goals and periodically report their progress. In addition, there is a narrated PowerPoint presentation …

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How are health insurance and car insurance similar and different

WebCar (automobile) insurance is similar to health insurance in a very important way: both types of policies provide protection against financial losses. Automobile and …

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What does the term “managed care” mean with regard to health …

WebIf you go out of the network for care, you will generally have to pay more for health care. The network sets criteria for the selection of health care providers and also …

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Is a Health Savings Account (HSA) a good idea

WebHealth Savings Accounts (HSAs) can be established if you have a high deductible policy. The policies may be offered by employers or purchased privately. …

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Storing Your Advance Directives for Health Care

WebIt’s wise to keep a copy in your vehicles or to carry a wallet card that refers to the documents’ existence and location and names your health-care agent (s). If you …

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Communicate Your Advance Directives for Health Care: Print this …

WebDesignated health-care agents have no power to act on your behalf while you can still communicate your own wishes, and their power ends at your death. Durable …

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What is the difference between bronze, silver, gold and platinum …

WebIn order to be included in the Health Insurance Marketplace, each insurance company can offer four different types of “qualified” health insurance plans– Bronze, …

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Impact of Health on Financial Security of Older Americans

WebHealth problems significantly increased the likelihood of financial strain for older individuals, but the effects varied by the measure of financial strain used and how …

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A Durable Power of Attorney for Health Care

WebA durable power of attorney for health care allows you to choose someone (generally referred to as a health-care or medical “agent,” “representative,” or “proxy”) …

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What does "activities of daily living" (ADLs) mean in a long-term …

WebLong-term care insurance policies use “benefit triggers” to determine if you’re eligible to start receiving benefits. Activities of daily living, or ADLs, are the most …

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Quiz for Health Care Advance Directives

WebAdvanced Directives Quiz. 1. After a patient is connected to life support systems, it is legally difficult to withdraw him or her from the life support systems. ___ …

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How long should I keep the Medicare Summary Notices and …

WebThere is no hard and fast rule for saving medical payment records. Certainly, they need to be kept while the medical services that are summarized on the forms are in …

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Financial Security: Insurance

WebPersonal insurance includes health insurance, disability insurance, life insurance, liability insurance, and property insurance. The purpose of insurance is to …

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What is FICA Tax and How is it Calculated

WebFICA tax is paid by both workers and their employers. FICA tax is typically 7.65% of earnings up to $127,200 (2017 figure). Employees pay 6.2% of their earnings …

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