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Life & Health Insurance/(Health Reimbursement Arrangement)

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Question
I am retired. I have a HRA (Health Reimbursement Arrangement) that will be devoid of funds in June 2013. When can I open a HSA (Health Savings Account)?
Thank you

Answer
Sorry, I just saw this question. Though late, I will try to answer it as best I can.  Health Savings Accounts are available to individuals who, through their employer, have a high deductible insurance policy.  Unless you have such a plan, you won't be eligible for an HSA.
If you are not eligible for Medicare, you can purchase a high deductible medical insurance policy and start an HSA. If you are eligible for Medicare, you may wish to consider an MSA,which is a supplement to a traditional Medicare plan, and works somewhat like a HSA.

Life & Health Insurance

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Dave Bowman

Expertise

I will answer questions of a general nature regarding life insurance, disability income insurance annuities (fixed and variable) and long term care insurance. Also, questions regarding estate analysis. No legal or accounting advice, as I am not a lawyer or a CPA. I do not sell health insurance, so have limited knowledge of the current status of that field.

Experience

30 years as a life insurance and investment industry professional. Former chapter president of Association of Insurance and Financial Advisors, Buffalo Chapter. CLU designation.

Organizations
Association of Insurance and Financial Professionals.

Education/Credentials
B.B.A Economics, U. of Georgia, 1971.

Past/Present Clients
Families, professionals, small businesses, individuals.

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