Comments on: Ask the taxgirl: Timing of Medical Expenses http://www.taxgirl.com/ask-the-taxgirl-timing-of-medical-expenses/ Paying taxes is painful... but reading about them shouldn't be. Sun, 12 Feb 2012 17:55:29 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: VC http://www.taxgirl.com/ask-the-taxgirl-timing-of-medical-expenses/comment-page-1/#comment-15610 VC Mon, 05 Apr 2010 20:18:17 +0000 http://www.taxgirl.com/?p=1749#comment-15610 thanks for the info, how do you calculate the supplies us for resume when resumes are faxed and emailed? do you have to have receipts. thanks for the info, how do you calculate the supplies us for resume when resumes are faxed and emailed? do you have to have receipts.

]]> By: Bihter http://www.taxgirl.com/ask-the-taxgirl-timing-of-medical-expenses/comment-page-1/#comment-7324 Bihter Tue, 11 Nov 2008 13:08:26 +0000 http://www.taxgirl.com/?p=1749#comment-7324 Hi Kelly, I've been doing some additional research on the author, Chris Flett, that I talked about on my last comment. His company is "GhostCEO" (www.GhostCEO.com) and his book is a bestseller. I found it on Amazon here. Anyway, he was in the NY Times last Sunday under the "Career Couch" and he makes reference to women's blogs like yours so I thought you might like to connect. I'd like to see you interview him and see what he's all about. I saw on another blog he was a guest blogger. His email is: chris@ghostceo.com Best wishes, Bihter. Hi Kelly,

I’ve been doing some additional research on the author, Chris Flett, that I talked about on my last comment. His company is “GhostCEO” (www.GhostCEO.com) and his book is a bestseller. I found it on Amazon here. Anyway, he was in the NY Times last Sunday under the “Career Couch” and he makes reference to women’s blogs like yours so I thought you might like to connect. I’d like to see you interview him and see what he’s all about. I saw on another blog he was a guest blogger. His email is: chris@ghostceo.com

Best wishes,

Bihter.

]]> By: Bihter http://www.taxgirl.com/ask-the-taxgirl-timing-of-medical-expenses/comment-page-1/#comment-7120 Bihter Mon, 03 Nov 2008 17:55:09 +0000 http://www.taxgirl.com/?p=1749#comment-7120 Hi Kelly, Just wanted to say that I've started reading your blog. I'm wondering if you have heard about the book, "What Men Don't Tell Women About Business". I heard the guy (Chris Flett) on the Today Show and thought you probably have already heard of him. I'm wondering what your thoughts were. He seems to be really taking on the 'Old Boys Club". I just emailed him, but haven't heard back. Anyway, keep up the great writing. Best, Bihter. Hi Kelly,

Just wanted to say that I’ve started reading your blog. I’m wondering if you have heard about the book, “What Men Don’t Tell Women About Business”. I heard the guy (Chris Flett) on the Today Show and thought you probably have already heard of him. I’m wondering what your thoughts were. He seems to be really taking on the ‘Old Boys Club”. I just emailed him, but haven’t heard back.

Anyway, keep up the great writing.

Best,

Bihter.

]]> By: Wayne Phillips http://www.taxgirl.com/ask-the-taxgirl-timing-of-medical-expenses/comment-page-1/#comment-7105 Wayne Phillips Sun, 02 Nov 2008 19:16:34 +0000 http://www.taxgirl.com/?p=1749#comment-7105 Pensioners generally do not have the resources of today's workers. HSA came into being as an alternative to large companies trimming benefits and are for current employees. DuPont offers HSA's but as with all large corporations, the bottom line is the driver. The employee carries the burden of financing the HSA. The company is only a vehicle to collect from the employee. Usually all the rest is either between a contracted company and the employee. DuPont recently announced the end of their company paid pension for future employees hired after 2006. 401K's are now the method for retirees to prepare for the future. Some companies such as GM have announced they will no longer contribute to their employees 401K. DuPont websites are ablaze with that possibility as DuPont has never missed a dividend. One pensioner said to current employees, "Be not surprised, as when it comes to paying the dividend, DuPont management will throw employees under bus first". Medical packages were a promise DuPont made to their new hires for over fifty years. That changed in the mindset of global economy in management of large companies. Now large companies that continue to offer their pensioners medical coverage, play the role of medical provider when paying medical claims. In doing so they assume the role of medical provider, which most professional medical providers decry as "practicing medicine without a license". According to the DuPont blog website, many pensioners are concern that DuPont will raise the premiums so high, and make payment of claims so burdensome, pensioners must seek medical coverage elsewhere. A warning to those between 25 and 50. Take a look at your future needs as you approach your retirement age. Companies offer fewer if any benefits, maybe stop contributing to your 401K altogether, no pension, and possibly no medical coverage after you turn 65, regardless if you retire or not. Several local banks in NC have notified their employees this very issue, no medical coverage after 65, or when you leave your employment. Pensioners generally do not have the resources of today’s workers. HSA came into being as an alternative to large companies trimming benefits and are for current employees.
DuPont offers HSA’s but as with all large corporations, the bottom line is the driver. The employee carries the burden of financing the HSA. The company is only a vehicle to collect from the employee. Usually all the rest is either between a contracted company and the employee.
DuPont recently announced the end of their company paid pension for future employees hired after 2006. 401K’s are now the method for retirees to prepare for the future. Some companies such as GM have announced they will no longer contribute to their employees 401K. DuPont websites are ablaze with that possibility as DuPont has never missed a dividend. One pensioner said to current employees, “Be not surprised, as when it comes to paying the dividend, DuPont management will throw employees under bus first”.
Medical packages were a promise DuPont made to their new hires for over fifty years. That changed in the mindset of global economy in management of large companies. Now large companies that continue to offer their pensioners medical coverage, play the role of medical provider when paying medical claims. In doing so they assume the role of medical provider, which most professional medical providers decry as “practicing medicine without a license”.
According to the DuPont blog website, many pensioners are concern that DuPont will raise the premiums so high, and make payment of claims so burdensome, pensioners must seek medical coverage elsewhere.

A warning to those between 25 and 50. Take a look at your future needs as you approach your retirement age. Companies offer fewer if any benefits, maybe stop contributing to your 401K altogether, no pension, and possibly no medical coverage after you turn 65, regardless if you retire or not. Several local banks in NC have notified their employees this very issue, no medical coverage after 65, or when you leave your employment.

]]> By: Kelly http://www.taxgirl.com/ask-the-taxgirl-timing-of-medical-expenses/comment-page-1/#comment-7100 Kelly Sun, 02 Nov 2008 14:40:07 +0000 http://www.taxgirl.com/?p=1749#comment-7100 That's a good idea! My gut is that the taxpayer is not eligible for the plan because he is a retiree - but I don't know how DuPont manages their HSAs. But you make a great point - taxpayers who work for mid to large companies should investigate HSAs for assistance with medical expenses! A bit more info here: http://www.taxgirl.com/7-ways-to-save-on-your-taxes-now/ That’s a good idea! My gut is that the taxpayer is not eligible for the plan because he is a retiree – but I don’t know how DuPont manages their HSAs.

But you make a great point – taxpayers who work for mid to large companies should investigate HSAs for assistance with medical expenses! A bit more info here: http://www.taxgirl.com/7-ways-to-save-on-your-taxes-now/

]]> By: Tim http://www.taxgirl.com/ask-the-taxgirl-timing-of-medical-expenses/comment-page-1/#comment-7099 Tim Sun, 02 Nov 2008 14:13:38 +0000 http://www.taxgirl.com/?p=1749#comment-7099 Wouldn't there be another way to tap into Dupont's health care savings plan so that all monies paid for medical expenses would be tax free? I work for a large telecommunication company and they have a health care savings plan that is deducted from each paycheck (pre-tax) bi-weekly and goes into an account that can be used to pay for medical expenses (and never expires - carries forward each year). Certainly Dupont may have this type of benefit as well but perhaps 'Taxpayer' can look into this avenue as well. In my opinion the tax code for medical expenses is very limited to who can benefit and really only benefits low income folks (that typically cannot afford to pay their med bills) or older people with no income. Wouldn’t there be another way to tap into Dupont’s health care savings plan so that all monies paid for medical expenses would be tax free?

I work for a large telecommunication company and they have a health care savings plan that is deducted from each paycheck (pre-tax) bi-weekly and goes into an account that can be used to pay for medical expenses (and never expires – carries forward each year). Certainly Dupont may have this type of benefit as well but perhaps ‘Taxpayer’ can look into this avenue as well.

In my opinion the tax code for medical expenses is very limited to who can benefit and really only benefits low income folks (that typically cannot afford to pay their med bills) or older people with no income.

]]> By: Ask the taxgirl: Timing of Medical Expenses http://www.taxgirl.com/ask-the-taxgirl-timing-of-medical-expenses/comment-page-1/#comment-7097 Ask the taxgirl: Timing of Medical Expenses Sun, 02 Nov 2008 13:14:21 +0000 http://www.taxgirl.com/?p=1749#comment-7097 [...] Go here to read the rest:  Ask the taxgirl: Timing of Medical Expenses [...] [...] Go here to read the rest:  Ask the taxgirl: Timing of Medical Expenses [...]

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