Savings Game –

Health savings accounts, beneficiaries and tax liability

August 4, 2021 at 3:19 p.m.

I have written previously about the tax advantages associated with health savings accounts (HSAs). Contributions are tax-deductible regardless of income. Returns on contributions grow tax-deferred. As long as distributions are...

Filing your 2020 tax return electronically is highly recommended. The IRS still hasn't processed thousands of paper returns from 2019. (Dreamstime/TNS)

The Savings Game: Tax changes and extensions for your 2020 return

February 17, 2021 at 12:51 p.m.

The Internal Revenue tax season began February 12, meaning individual tax returns begin being accepted and processing begins. Here are some key figures to be aware of. — The new...

The stock market was good to those investors who chose to hold their steady in their investments in 2020. (Dreamstime/TNS)

The Savings Game: Investing in 2021

January 29, 2021 at 4:19 p.m.

For most investors, 2020 was a pretty good year if they maintained a significant part of their portfolios in the stock market. In many of my columns, I reiterated that...

A Senior Health Insurance Program (SHIP) representative in your state can help you evaluate whether it is to your advantage to switch to a new Medigap policy or stay with your existing plan. (Dreamstime.com/TNS)

The Savings Game: How can I switch Medigap plans?

January 25, 2021 at 3:09 p.m.

Q: I have been enrolled in Medigap Plan G for several years, but because of price increases, I would like to switch to another Medigap plan. I am concerned that...

The Savings Game: New guide lays out health care advice for all

January 15, 2021 at 3:27 p.m.

As we all know, the U.S. health care system is very complex. No matter what stage of life you are in, it is crucial to understand your options to obtain...

The Savings Game: SSA audits reveal improper advice

January 8, 2021 at 4:39 p.m.

Anybody who has applied for Social Security benefits knows that the system's regulations are complex. Unfortunately, many employees of the Social Security Administration (SSA) find them confusing as well, and...

The Internal Revenue Service building is in Washington, D.C. (Chuck Myers/TNS)

The Savings Game: IRS issues new RMD tables for IRAs

December 24, 2020 at 9:51 a.m.

There have been many changes recently in the tax laws that affect retirement accounts and their associated required minimum distributions (RMDs). Specifically, the CARES Act enacted last spring waived RMDs...

If you have switched from Original Medicare to a Medicare Advantage plan, but wish to switch back, it is important for you to understand under what conditions you can do so without incurring higher costs or being denied coverage. (Dreamstime.com/TNS)

The Savings Game: Know your Medigap rights

December 15, 2020 at 4:40 p.m.

In a recent column, I discussed the pros and cons of various Medicare options, including Medicare Advantage plans. I also referred to the situation in which an individual signed up...

How will bankruptcy affect your retirement accounts?

November 16, 2020 at 12:31 p.m.

In a recent article published in Financial Planning magazine, Ed Slott (www.irahelp) pointed out that there are differences among retirement plans when it comes to protecting your assets in bankruptcy...

Why you should name your retirement plan beneficiaries now

October 30, 2020 at 1:53 p.m.

In a recent article in Financial Planning, retirement plan expert Ed Slott, reminded those who participate in company retirement plans to make sure they name beneficiaries. In the absence of...

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