The pandemic is in the driver’s seat. Federal Reserve Governor Lael Brainard recently shared his thoughts on where our economy is going and what to expect in the near future. Many may not know that more of your out-of-pocket medical expenses just got covered. Lisa Gerstner summarizes the changes to HSAs (Health Savings Accounts) and FSAs (Flexible Savings Accounts) that will help consumers. If you lose your health insurance during the coronavirus crisis, you have options. The author of The Health Care Consumer’s Manifesto, Deborah Gordon, details four steps to take to make sure you don’t go without coverage.
Fed Officials Warn On ‘Thick Fog’ Ahead For U.S. Economy As Recovery Concerns Deepen — The U.S. economy will recover more slowly than expected amid a surge in novel coronavirus cases across the country, and a broad second wave of the disease could cause economic pain to deepen again, Federal Reserve officials warned on Tuesday. Read more…
Health Savings Accounts Get Even Better — A health savings account is a powerful, tax-advantaged tool to cover out-of-pocket medical expenses and a smart way to save for medical expenses in retirement. New rules in 2020 let HSAs and flexible spending accounts (FSAs) cover even more of your health expenses. Read more…
What to Do If You Lose Your Health Insurance During the Coronavirus Crisis — Under normal circumstances, you might tolerate the risk of being temporarily uninsured in between jobs. This is not the time to go without health insurance if you can avoid it. COVID-19 amplifies both your risk of needing health care and of having challenges paying for that care. Here are four steps to take to protect yourself and your family. Read more…
John R. Day, Bill Ennis, Stephanie Hall, and Matt Heller