Health Savings Accounts (HSAs) are more attractive now that President George W. Bush signed the Tax Relief and Health Care Act of 2006 into law on December 20, 2006. Among other items, the Act includes substantial changes to current rules governing HSAs and the requirements applicable to High Deductible Health Plans (HDHP). The new rules apply to taxable years beginning on or after December 31, 2006.
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People frequently underestimate the need for disability insurance. While it’s almost unheard of to forego insurance for other important assets—like homeowner’s coverage or life insurance—vastly fewer people insure their ability to earn an income. With the personal savings rate being at an all-time low in the U.S., the failure to insure one’s earning power with disability coverage can have severe consequences, in the event that a disability does occur.
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On November 9, 2006, the Internal Revenue Service released the new maximum contribution levels for Health Savings Accounts (HSAs), out-of-pocket spending limits for High Deductible Health Plans (HDHPs), and minimal deductible limits that must be used in conjunction with HSAs. These amounts have been indexed for cost-of-living adjustments for 2007 and are included on page 16 of Revenue Procedure 2006-53, which is available online at www.irs.gov.
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Noncompliance with a prescribed drug regimen can be costly and dangerous. The failure to take a medication as prescribed can lead to adverse health consequences—including emergency hospital admissions—and unnecessary health care spending. Why does prescription drug noncompliance occur, and what can be done to lower its incidence?
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