Hey guys, you mixed up PPO plans vs HMO plans. PPO plans allow people to see clinicians outside of their network, while HMOs do not. HMO plans ALSO require authorization to see a specialist (depending on the network). I'm a clinician and do my own medical billing, so I deal with this crap weekly.
I have an HSA healthcare plan. My employer contributes $700 per year towards my HSA account balance. Since an individual can deposit $4150 for 2024, does the $700 that my employer contributes come off that total making the amount I can deposit actually $3450? Just trying to make sure I don't go over the allotted yearly amount. Thank you!
Hello - love you channel ! But on minute 15.37 m - you need to EDIT - is NOT the PPO that needs referral - you meant to say HMO - that is the one that needs referrals etc - I know is soooo confusing stuff - I’m an insurance agent ( HEALTH for Medicare people ) Keep up the great work guys ❤️
Matt and Mark, go back to minute 16:08. Matt got the PpO and HMo mixed up. HMO is the gatekeeper. PPO is where the patient can go directly to specialist
This is Great!!!! So much information out there in Cyberspace on how to navigate the Health Markets. My particular interest is how to navigate away from employer sponsored heath benefits. I dont even use them and am seeking more control over my "health and wellness budget". My destination is HDHP & HSA w/ Accident Coverage. Also like what I am learning about Direct Primary Care systems. Great stuff Mark and Matt!!!!!💯💥👔💎🔍
I just got quotes for group healthcare for our small business next year and the HSA plans charged a couple hundred dollars more per month than the non HSA plans (Providence healthcare) so unless I was able to invest HSA to consistently high returns it's not worth the added cost of the premiums to get an HSA eligible account.
Not true. If you can afford to cover your healthcare expenses out of pocket now and allow your HSA funds to remain invested and continue doing this over a number of years so that investments within the HSA can remain invested just like you do with a retirement account you can get huge benefits out of the HSA. First of the fact that all of the funds are able grow tax free and are also disbursed tax free is a huge advantage. If you make sure to keep proper documentation of all of the medical expenses you paid for out of pocket during the time frame you had the HSA you can submit the receipts for reimbursement at any point down the road for example if you have receipts for expenses that were incurred 12 years ago and your HSA account was opened when the expense was incurred you can submit that and get reimbursed from your HSA. What is important to note is that the HSA funds you receive are a reimbursement and counted as income or taxed. Since the funds are a reimbursement and not income this could be useful when you are on Medicare if you are pushing up on income thresholds that could cause you to trigger an IRRMA and be forced to pay higher Medicare premiums. If you needed money in that scenario and withdraw them from an IRA that would be counted as income and result in the IRRMA but if you submit receipts for reimbursement from your HSA those funds are not income which means no IRRMA and you have the money needed to cover the expense.
what if we purchase insurance through my wife's company, can I have my biz (I have a C-corp and S-corp) reimburse me for my portion of the insurance that we pay?
In your videos, when it comes to transferring crypto to an IRA or Other investment, you said call you before transferring into cash. So if you have a bull run and you want to take profit quickly, can you transfer your crypto into a stable coin like USDT to home it until we can transfer it into the self directed IRA? Trying to avoid capital gains & I want to reinvest it into a business or rentals.
You are aware that an IRA accounts assets are pretax funds and you do not pay any taxes until you remove the funds from the IRA. And money disbursed from pretax retirement accounts is taxed as ordinary income and not at capital gains rates. You also should consider that generally speaking if you under age 59 1/2 any money taken out of an IRA account will be taxed as ordinary income and also incur an additional 10% early withdrawal penalty on top of the taxes. And since the disbursements are ordinary income if you are still working the disbursements from the IRA may push you into a higher tax bracket. In my opinion if you want to own crypto and use it to fund something like a business or real estate investments I would choose a different vehicle than an IRA for this. IRAs which funky non-traditional investments like you describing come with further challenges such as finding a specialized custodian for your IRA you can do what you are discussing at fidelity or Schwab. I have also heard that real investments held in an IRA can be bring more challenges due to contribution limits and phase outs. For example say you bought a condo through an IRA to use as a rental property since it is an IRA assets you may only be able to use your own money held within an IRA for expenses related to the property. So if you wanted to renovate the kitchen and the renovation will cost $45k that needs to be paid from assets with your IRA since using non-IRA assets to pay for a renovation which may increase the value of the condo may be viewed as an IRA contribution and assuming your income level is below the phase out range so you are still eligible to make an IRA contribution you are limited to a max contribution of $7k in 2024 unless you are age 50 or older where with the catchup contribution you can contribute $8k. Also owning real estate in an IRA doesn’t seem extremely tax efficient since IRA distributions are taxed at ordinary income and if you just bought the investment property outside of an IRA you would only pay capital gains rates on a portion of the income proceeds at the time of sale and can also take advantage of depreciation rules. I guess maybe you could do this in. Roth IRA but you still run into the issue around the paying for large expenses and I would assume you cannot take any rental income received from a property held in any IRA or Roth IRA out or it will be an IRA distribution. To me the complexity and potential headaches and most likely needing to hire a CPA to deal with tax filings related to your IRA to ensure your tax filings are correct and don’t get you a visit from the IRS for an audit make this more of hassle than it is worth.
Crypto is still the future, investing in crypto and stocks is the wiser thing to do especially now the prices are low, they are very profitable whether you choose to hodl or trade.
@vanessa8145It’s amazing how she’s influencing lives positively here in UK with her trading and management skill, my first trade was with £2k and I made over £7,500 for that session.
Well, the volatility of cryptocurrencies and the Rapid intraday price movements provide a range of opportunities for traders to go long and short, the experience matters
@@EarlelmanWhen I first talked with Ms. Stephanie about crypto trading i took the opportunity she offered regardless of the little risks and rn i’m happy that I trade with her. You know lack of exposure can be the worst thing that most people face. Anyone who is not investing now is missing a tremendous opportunity.
Crypto is a joke. A non physical asset you can never touch. Ponzi sceme. Create a block chain backed by physical assets that is redeemable and now we can talk. But as it, why by an imaginary digital coin?
Sure you guys want to double dip the clients are installing a crime free inheritance plan in April paying Podcasters $500 their guest $500.00, and a RUclips viewer $500 in April for finding a new purchaser of the new Interdiction trust crine free inheritance and legacy wealth. Transfer plan.
Best strategy to keep healthcare cheap, is by staying healthy.
best way is to make it a free market.
BINGO, the mystery is why do so few people safeguard their health?
Hey guys, you mixed up PPO plans vs HMO plans. PPO plans allow people to see clinicians outside of their network, while HMOs do not. HMO plans ALSO require authorization to see a specialist (depending on the network). I'm a clinician and do my own medical billing, so I deal with this crap weekly.
I have an HSA healthcare plan. My employer contributes $700 per year towards my HSA account balance. Since an individual can deposit $4150 for 2024, does the $700 that my employer contributes come off that total making the amount I can deposit actually $3450? Just trying to make sure I don't go over the allotted yearly amount. Thank you!
Your employer contribution counts toward your max for the year.
Hello - love you channel !
But on minute 15.37 m - you need to EDIT - is NOT the PPO that needs referral - you meant to say HMO - that is the one that needs referrals etc - I know is soooo confusing stuff - I’m an insurance agent ( HEALTH for Medicare people )
Keep up the great work guys ❤️
You mixed it up. HMO requires referrals; PPO's do not.
Matt and Mark, go back to minute 16:08. Matt got the PpO and HMo mixed up. HMO is the gatekeeper. PPO is where the patient can go directly to specialist
I have PPO insurance and I don’t need a referal to see a specialist..
This is Great!!!! So much information out there in Cyberspace on how to navigate the Health Markets. My particular interest is how to navigate away from employer sponsored heath benefits. I dont even use them and am seeking more control over my "health and wellness budget". My destination is HDHP & HSA w/ Accident Coverage. Also like what I am learning about Direct Primary Care systems. Great stuff Mark and Matt!!!!!💯💥👔💎🔍
HMO needs referral
PPO is the one where you simply go. Matt ?
HMO and PPO got mixed up there.
Love this show. Very interesting and intelligent!
The HSA KINGS thank you.
I just got quotes for group healthcare for our small business next year and the HSA plans charged a couple hundred dollars more per month than the non HSA plans (Providence healthcare) so unless I was able to invest HSA to consistently high returns it's not worth the added cost of the premiums to get an HSA eligible account.
Not true. If you can afford to cover your healthcare expenses out of pocket now and allow your HSA funds to remain invested and continue doing this over a number of years so that investments within the HSA can remain invested just like you do with a retirement account you can get huge benefits out of the HSA. First of the fact that all of the funds are able grow tax free and are also disbursed tax free is a huge advantage. If you make sure to keep proper documentation of all of the medical expenses you paid for out of pocket during the time frame you had the HSA you can submit the receipts for reimbursement at any point down the road for example if you have receipts for expenses that were incurred 12 years ago and your HSA account was opened when the expense was incurred you can submit that and get reimbursed from your HSA. What is important to note is that the HSA funds you receive are a reimbursement and counted as income or taxed. Since the funds are a reimbursement and not income this could be useful when you are on Medicare if you are pushing up on income thresholds that could cause you to trigger an IRRMA and be forced to pay higher Medicare premiums. If you needed money in that scenario and withdraw them from an IRA that would be counted as income and result in the IRRMA but if you submit receipts for reimbursement from your HSA those funds are not income which means no IRRMA and you have the money needed to cover the expense.
what if we purchase insurance through my wife's company, can I have my biz (I have a C-corp and S-corp) reimburse me for my portion of the insurance that we pay?
what about MediCare? I had much better insurance BEFORE Medicare. Now I pay more on Medicare and get less!
Can you make contributions to an HSA account and also be in a ACA tax subsidy type plan w/ high deductible? (We are self-employed)
In your videos, when it comes to transferring crypto to an IRA or Other investment, you said call you before transferring into cash. So if you have a bull run and you want to take profit quickly, can you transfer your crypto into a stable coin like USDT to home it until we can transfer it into the self directed IRA? Trying to avoid capital gains & I want to reinvest it into a business or rentals.
You are aware that an IRA accounts assets are pretax funds and you do not pay any taxes until you remove the funds from the IRA. And money disbursed from pretax retirement accounts is taxed as ordinary income and not at capital gains rates. You also should consider that generally speaking if you under age 59 1/2 any money taken out of an IRA account will be taxed as ordinary income and also incur an additional 10% early withdrawal penalty on top of the taxes. And since the disbursements are ordinary income if you are still working the disbursements from the IRA may push you into a higher tax bracket. In my opinion if you want to own crypto and use it to fund something like a business or real estate investments I would choose a different vehicle than an IRA for this. IRAs which funky non-traditional investments like you describing come with further challenges such as finding a specialized custodian for your IRA you can do what you are discussing at fidelity or Schwab. I have also heard that real investments held in an IRA can be bring more challenges due to contribution limits and phase outs. For example say you bought a condo through an IRA to use as a rental property since it is an IRA assets you may only be able to use your own money held within an IRA for expenses related to the property. So if you wanted to renovate the kitchen and the renovation will cost $45k that needs to be paid from assets with your IRA since using non-IRA assets to pay for a renovation which may increase the value of the condo may be viewed as an IRA contribution and assuming your income level is below the phase out range so you are still eligible to make an IRA contribution you are limited to a max contribution of $7k in 2024 unless you are age 50 or older where with the catchup contribution you can contribute $8k. Also owning real estate in an IRA doesn’t seem extremely tax efficient since IRA distributions are taxed at ordinary income and if you just bought the investment property outside of an IRA you would only pay capital gains rates on a portion of the income proceeds at the time of sale and can also take advantage of depreciation rules. I guess maybe you could do this in. Roth IRA but you still run into the issue around the paying for large expenses and I would assume you cannot take any rental income received from a property held in any IRA or Roth IRA out or it will be an IRA distribution. To me the complexity and potential headaches and most likely needing to hire a CPA to deal with tax filings related to your IRA to ensure your tax filings are correct and don’t get you a visit from the IRS for an audit make this more of hassle than it is worth.
Do you guys help employers set upnhealth insurance?
❤
Crypto is still the future, investing in crypto and stocks is the wiser thing to do especially now the prices are low, they are very profitable whether you choose to hodl or trade.
People are ignorant about the profitability of investment and that has been the major issues limiting their financial growth.
@vanessa8145It’s amazing how she’s influencing lives positively here in UK with her trading and management skill, my first trade was with £2k and I made over £7,500 for that session.
Well, the volatility of cryptocurrencies and the Rapid intraday price movements provide a range of opportunities for traders to go long and short, the experience matters
@@EarlelmanWhen I first talked with Ms. Stephanie about crypto trading i took the opportunity she offered regardless of the little risks and rn i’m happy that I trade with her. You know lack of exposure can be the worst thing that most people face. Anyone who is not investing now is missing a tremendous opportunity.
Crypto is a joke. A non physical asset you can never touch. Ponzi sceme. Create a block chain backed by physical assets that is redeemable and now we can talk. But as it, why by an imaginary digital coin?
Tempe Town Lake in background 😊
Sure you guys want to double dip the clients are installing a crime free inheritance plan in April paying Podcasters $500 their guest $500.00, and a RUclips viewer $500 in April for finding a new purchaser of the new Interdiction trust crine free inheritance and legacy wealth. Transfer plan.