Latest news with #HealthSavingsAccount
Yahoo
5 days ago
- Business
- Yahoo
JOB ALERT: Modine in Longview is searching for a Brazer
Modine Longview Brazer Key Responsibilities: This position requires the ability to prepare coils for brazing, braze coil with various type rods, able to make own setups and braze any coil that comes thru the department and read blueprints and use simple arithmetic. Performs other duties as assigned. Forklift operation will be required. Forklift training is available. Must be able to complete duties in a safe and timely manner in accordance with quality standards and engineering specifications. Qualifications: 2 years' Brazing experience required. Reliable transportation. Modine provides a competitive benefit package, which could include paid vacation, short term disability, 401(k), health, dental, vision, life insurance, flex spending benefits, tuition reimbursement, Health Savings Account and more. Apply Here Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Business Insider
5 days ago
- Business
- Business Insider
Digging into my HSA accounts taught me an important, five-figure lesson in investment fees
When I initiated an HSA transfer earlier this year, it forced me to get intimate with my accounts and understand details such as fees that I'd previously brushed aside. HSA stands for Health Savings Account, and its primary function is to save for healthcare-related expenses. However, it can also be used as an investment tool — similar to an IRA, you can invest your HSA balance in mutual funds, stocks, or ETFs, depending on what the plan offers — and supplement your retirement savings. This is exactly what a handful of millennial millionaires I've spoken to are doing: Maxing out the account (in 2025, individuals can contribute $4,300 to an HSA), not touching the money, and letting it grow tax-free. A major perk of the account is its three-pronged tax benefit: You can contribute pretax dollars (reducing your taxable income), your contributions and earnings grow tax-free over time, and you can withdraw your money tax-free to cover qualified medical expenses. One self-made millionaire I spoke to, who has his investments spread across seven types of accounts, told me that his HSA is his "favorite by far." It's a great account, and one that I have access to since I'm enrolled in a high-deductible health plan (HDHP). Note that an HDHP, which offers a lower premium but comes with a higher deductible, is not the best choice for everyone. It's typically well suited for people who are very healthy, don't plan on seeking medical care frequently, and can afford to pay the deductible upfront in the event of a medical event. After two years of simply saving in an HSA while writing about millionaires who are putting that money to work, I decided to do the same and invested about $4,400 worth of my HSA dollars into a target date fund in early 2024. I calculated that if I continued to max out my account and invest my HSA dollars for the next 30 years, it could mean about a $200,000 difference in net worth. If used strategically, an HSA can be a powerful tool. However, like many financial products and services, there's fine print that's important to be aware of and easy to overlook, especially when you're thinking about the six-figure dollar amount you just tacked onto your nest egg. Check the fees associated with your account Prior to the HSA transfer, which I initiated to consolidate two different accounts, I hadn't bothered looking under the hood of either account. However, before transferring one to the next, certified financial planner Brent Weiss recommended I compare the two. He told me they could be notably different: "When it comes to an HSA, there is a big disparity in the quality of HSA providers within the industry." When I asked what makes a "good" HSA provider, he pointed to two main factors: fees and investment options. That's when I found the investment account fees associated with both accounts: One was 0.40% annually, billed monthly and capped at $10 a month regardless of the account balance. The other was 0.60%, invoiced quarterly at 0.15%. I would later find out that the 0.60% fee wasn't even charged by the HSA provider but, rather, by the provider's investment partner. It was a good reminder that sometimes fees can be difficult to find and understand. At first glance, the fees seemed low, but Weiss seemed to think otherwise. He asked if I meant to say 0.04% and 0.06%, rather than 0.40% and 0.60%. To attach a dollar amount to the fee, we referred to my recent transactions and found that I was billed about $7 quarterly. That's a less shocking figure than the percentage, he said: "It's not a huge dollar amount today because of the size of the balance." However, he added that "fees matter and they do add up over time." How much do fees add up? While I'm fine paying about $7 a quarter or $28 a year in fees for now, as Weiss mentioned, that number could look much different the more my accounts grow. To find out exactly how much, I turned to ChatGPT to run the numbers for both fee structures. I laid out the scenario as follows, including details such as the $10 monthly cap. I also mentioned that I planned to max the account out each year for the next 30 years, and reminded it that the contribution limit tends to increase over time: Hello! I'm trying to figure out how much I would owe in fees by continuing to invest in my HSAs. There are two different fee structures. For the first, the annual investment account fee is 0.4%, billed monthly and capped at $10 a month. For the second, the annual investment account fee is 0.60%, invoiced quarterly at 0.15%. There does not appear to be a monthly cap on the second. Currently, I have $4,800 invested and I plan to contribute and invest the maximum each year, which is $4,300 for individuals. Assuming I invest the maximum, which tends to increase each year (in 2026, it's $4,400), for the next 30 years until retirement, how much would I be paying in fees for both accounts? A few seconds later, the results were in. Here's what ChatGPT told me: Over the next 30 years, assuming steady contributions and a 7% annual return: Fee Structure 1 (0.4% annually, capped at $10/month): You would pay approximately $3,363 in total fees. Fee Structure 2 (0.6% annually, billed quarterly at 0.15%, uncapped): You would pay approximately $30,054 in total fees. The capped structure saves you significantly over time — by about $26,691 — thanks to the monthly cap limiting fees as your investments grow. An online fee calculator confirmed that fees can indeed add up significantly over time, though I didn't have the option to include the $10 cap and change my annual contribution amount to reflect future contribution limit increases. While I haven't made any adjustments to my HSA investment strategy yet, I now have more information. I also learned to look out for monthly maintenance fees associated with accounts like HSAs, transfer fees or fees associated with closing an account, and expense ratios (fees that mutual funds and ETFs charge investors). If the fees ever become too much to stomach, I can always consider a strategy Weiss mentioned and uses himself: Contributing to a different HSA provider than the one offered by your company. I incorrectly assumed you were stuck with whichever provider your company elected. "You can go anywhere you want, set up your own HSA account, make your own contributions to it, and deduct it on your tax returns," he said. "I just do an electronic transfer once a year to make my annual contribution. I make sure it's listed on my tax return because it doesn't flow through my W-2, so I have to deduct it on my tax returns." It's more complicated than simply electing a percentage of your paycheck to have your employer send straight to your HSA, and he mentioned one catch to keep in mind: "The only downside is that if your income is under the Social Security wage base, you actually don't pay FICA tax on direct HSA contributions, so there can be a tax-savings on that contribution. But, if your income is over the Social Security wage base, then you're not really saving a ton of money by doing it on your own." For now, I'm content sticking with the less complex model of contributing to the plan provided by my company. But I learned to always read the fine print and to not only find the fees — but to run the numbers to understand exactly how they could impact your portfolio.
USA Today
6 days ago
- Business
- USA Today
New Article from Kugler Vision Reveals the True Cost of LASIK in Omaha and Why It May Save Patients Thousands
For individuals in Omaha considering LASIK, the conversation often begins and ends with price. But according to a new article from Kugler Vision, a leading provider of advanced vision correction procedures in Nebraska, the upfront cost of LASIK is only part of the story. The real comparison lies in understanding how LASIK stacks up against the lifetime financial burden of glasses and contact lenses—a burden that, for many, quietly adds up to tens of thousands of dollars over the years. Published by Lance Kugler, MD, 'The True Cost of LASIK in Omaha' challenges the common assumption that laser eye surgery is financially out of reach. The article reveals that the cost of LASIK in Omaha is driven by technology, the surgeon's experience, and the clinic itself. Kugler Vision stands out by offering clear, upfront pricing with no hidden fees following a consultation—something that sets them apart in a market where price transparency is not always guaranteed. Each patient receives a personalized estimate following a comprehensive EyeAnalysis consultation, where the clinical team evaluates vision goals, eye health, and candidacy for modern LASIK or one of six other advanced vision correction procedures. While the initial sticker price may give some patients pause, the article emphasizes that the long-term savings of LASIK can be significant. A person who wears two-week disposable contact lenses typically spends around $1,345 per year on lenses, solution, and related supplies. Over 25 years, that cost balloons to more than $33,000—and that's before factoring in inflation. Eyeglasses aren't much better, with regular updates to frames and prescriptions adding to the financial load. In contrast, LASIK is a one-time procedure with a high satisfaction rate and the potential to eliminate dependency on corrective lenses altogether. Many patients find that the money they save after LASIK can be redirected toward other priorities—family vacations, home purchases, or savings for the future. The article also outlines how LASIK has become more financially accessible than ever before. Kugler Vision offers financing options through trusted healthcare payment partners, making it possible for patients to break the total cost into manageable monthly installments. Qualified applicants can take advantage of up to two years of interest-free financing or opt for longer-term plans with low monthly payments. This flexibility makes it easier for individuals to pursue vision correction without delaying care due to financial barriers. For those exploring ways to reduce the upfront cost further, the article suggests using funds from a Flexible Spending Account (FSA) or Health Savings Account (HSA). Additionally, patients who receive tax refunds are encouraged to consider investing that money in a procedure that can offer long-term savings and freedom from glasses or contacts. In some cases, LASIK may also qualify as a tax-deductible medical expense, depending on how an individual itemizes deductions. Kugler Vision advises patients to speak with a tax professional to explore this potential benefit. Kugler Vision's commitment to patient-centered care extends beyond cost transparency. The article emphasizes that value is not just about price—it's also about the quality of care, technology used, and overall patient experience. Led by Dr. Lance Kugler, the Omaha team utilizes advanced diagnostic and surgical equipment to provide customized LASIK treatment plans tailored to each patient's needs. Their approach includes thorough pre-operative assessments, top-tier surgical precision, and attentive post-operative care, which collectively contribute to high satisfaction rates and consistently excellent outcomes. In a field where some clinics advertise unusually low LASIK prices, Kugler Vision urges patients to proceed with caution. Lower price tags may sometimes reflect older technology, less experienced surgeons, or inadequate follow-up care—all of which can affect both safety and results. Kugler Vision's article reinforces that the true cost of LASIK should be evaluated in terms of value, not just price. Choosing a provider based solely on the lowest quote may carry unintended risks that compromise long-term satisfaction and visual outcomes. Patients interested in learning more about the financial side of LASIK or exploring their eligibility are encouraged to schedule a consultation at Kugler Vision. The article makes it clear that affordability is not a barrier when the right information, resources, and support systems are in place. In today's economy, where every dollar counts, understanding the long-term impact of vision correction costs has never been more important. To read 'The True Cost of LASIK in Omaha' or to access Kugler Vision's LASIK affordability calculator, visit For interview requests, additional information, or expert commentary on the economics of laser vision correction, members of the media are invited to contact the Kugler Vision team directly.
The Herald Scotland
30-05-2025
- Business
- The Herald Scotland
Nine provisions lurking in Trump's tax bill you should know about
The bill is likely to be one of the most important pieces of legislation passed during Trump's second term. The immense pressure from the White House to pass the bill makes it a convenient vehicle for lawmakers to add in their preferred policies and increase their chances of making it into law. Still, the bill is not set in stone: The Senate will start considering the bill next week, and the measure may undergo considerable changes. Here are nine parts of the bill you might not yet know about: Making it easier to ignore court rulings Republicans included a provision in the bill that would restrict judges' ability to hold people accountable for violating court orders. It comes as some judges consider contempt rulings against the Trump administration for bypassing court orders restricting their actions. More: How Trump's clash with the courts is brewing into an 'all-out war' The legislation would bar judges from enforcing contempt rulings if they didn't first order a bond, which is commonly set at zero or not ordered in cases when people are claiming the government did something unconstitutional. Democrats have argued it's a clear attempt to bypass the courts, while Republicans say it's an incentive to stop frivolous lawsuits by requiring plaintiffs to pay in. A ban on regulating AI The bill would allocate $500 million to help modernize government with the help of artificial intelligence - and would prevent states from creating new regulations to shape how AI is used or developed. It also would block dozens of states from enforcing AI regulations and oversight structures they've already implemented. There is now no federal AI regulation to take the place of state policies. More: Trump's 'Big Beautiful Bill' could ban states from regulating AI for a decade Tech industry leaders support the approach, warning that regulation can get in the way of innovation in a new industry. Some Republicans in the Senate, however, have raised concerns that the ban is not a good idea without a federal structure to take its place. Cheaper gun silencers Republicans added a provision to the bill that would get rid of a $200 registration fee for gun silencers that has existed for more than 90 years and removed a requirement for gun owners to register their silencers. More: Trump admin allows devices that let some weapons shoot as fast as machine guns "Who asked for this - was it the assassin lobby?" said Rep. Steven Horsford, D-Nevada, at a hearing on the legislation earlier in May. But Republicans argued that eliminating the fee aligns with the Second Amendment, which protects a right to bear arms, and protects gun users' hearing. Tax-free gym memberships The bill would qualify sports and fitness expenses as qualified medical care, which would allow people to pay for them tax-free through a Health Savings Account. People could spend up to $500 a year on gym memberships through their HSAs, or $1,000 for a married couple. More: Robert F. Kennedy now heads Trump's MAHA commission: What to know The benefit could not be used at "a private club" owned by members, or a facility that offers golf, hunting, sailing or riding facilities. The health and fitness part of the business also couldn't be "incidental to its overall function and purpose." Purple Heart benefits Some people who earned a Purple Heart in the military - the decoration for service members who were wounded or killed in action - would qualify for a new income tax credit under the legislation. Purple Heart recipients who lost a portion of their Social Security disability benefits because they got a job could get a higher Earned Income Tax Credit to make up those lost Social Security benefits. 'Trump accounts' for kids The bill would create new savings accounts dubbed "Trump accounts" in which babies who are born between January 2025 and January 2029 can benefit from a one-time $1,000 payment from the federal government placed in the account. Parents would then be able to contribute up to $5,000 a year. The savings would be invested in a stock fund that would grow with the U.S. stock market. More: After 100 days, one thing is clear: The stock market is leery of Trump's tariffs The child could be able to access a portion of the money when they reach age 18 for things like education, training or buying their first house. They can use the full balance at age 30. Pell grant and student loan changes The bill includes a change to the Pell Grant program, which provides federal aid to low-income students to attend colleges and universities. Right now, students are considered full time and qualify for the maximum amount of aid if they take 12 credits a semester. The bill would change that to 15 credits a semester, which the National College Attainment Network estimated would result in a nearly $1,500 cut in benefits for students who can't increase their course load because of work or caretaking. More: Trump orders shift on student loan management to Small Business Administration It would also end multiple existing programs for people to pay back their student loans, including a Biden-era program that tailored payment requirements to the person's income. It would be replaced with a new fixed-rate program. Charging foreign workers Migrants often move to other countries in part to send money home to their family or community abroad. The United States is the world's largest source of these transfers, known as remittances. The Republican bill would implement a 3.5% tax on those transfers, which must be paid by the person sending the money. It would include an exemption for U.S. citizens and nationals sending money abroad. New immigration fees The GOP proposal would charge new fees for people seeking to immigrate to the United States. Among the proposed fees: $1,000 to request asylum, $550 payments every six months for work authorization, $500 to apply for temporary protected status, $1,000 for undocumented immigrants paroled into the country, and $3,500 to sponsor unaccompanied child migrants.
Yahoo
23-05-2025
- Business
- Yahoo
From Paycheck to Prosperity: 3 Vital Steps To Build Wealth No Matter Your Salary
Retirement planning articles are filled with myths about building wealth, saying, 'You have to be born into money to become a millionaire' and 'Only people with high salaries can build real wealth.' But in reality, your salary has little to do with growing wealth, and even people with modest incomes can build a comfortable retirement. Be Aware: Try This: CFP Michael Rodriguez at Equanimity Wealth said, 'Building wealth doesn't require a six-figure income; it requires a plan, consistency, and time.' Here are three vital steps to wealth on any salary. Hint: It's not diversification, called the holy grail of investing by Tony Robbins. The first step to wealth management is knowing what's coming in and what's going out. Write down your earnings and recurring expenses in a notebook or a budgeting app. Don't forget income from part-time work, side hustles and any rental income. Some examples of recurring bills include the following: Mortgage or rent Utilities Regular home maintenance Car payments Cable or streaming services Cell phone bills Credit card payments Property taxes Homeowners or renters insurance Transportation: gas, tolls and regular vehicle maintenance For You: Rodriguez said he uses a strategy called the 50/30/20 framework as a starting point for all his clients — whether they earn a salary of $40,000 or $400,000. It's a simple framework that is easy to apply. With this budgeting method, you put 50% of your income toward needs, 30% toward wants and 20% into savings. If your needs require more than 50% of your income, you can adjust the percentages to fit your expenses. The important thing is to use a solid framework to give yourself clarity as to what you're using your money for — and where you might need to cut back on spending. Paying down debt, especially high-interest balances, can be one of the fastest ways to grow wealth. The less you spend on interest, the more you can put toward savings and investments. Start by tackling credit cards and other high-rate debt, and aim to pay off your mortgage or car loan before retirement. If you're holding a mortgage with a high rate, refinancing when rates drop could free up even more cash to build long-term wealth. Long-term investments build wealth over time, even when starting small. Rodriguez recommends investing early, even if you can only invest $50 a month. He suggested investing in 'tax-advantaged accounts like a 401(k), Roth IRA and Health Savings Account (HSA), if available, and aiming for low-cost index funds that give you broad market exposure.' Once you become an investor, there are steps you can take to protect your nest egg, according to the U.S. Securities and Exchange Commission. It can be a good idea to work with a financial advisor or other investment professional to make sure you're investing your money in the best ways, but always research the professional you're considering working with before you give them any of your money. You can look up investment advisors on to ensure they are licensed and registered. Another thing you can do is look them up on LinkedIn and the Better Business Bureau to review their business and employment history. More From GOBankingRates How Far $750K Plus Social Security Goes in Retirement in Every US Region Sources Michael Rodriguez, Equanimity Wealth 'Build Wealth Over Time Through Saving and Investing.' This article originally appeared on From Paycheck to Prosperity: 3 Vital Steps To Build Wealth No Matter Your Salary
