Transfer money from IRA to HSA

 

A loyal GubMints reader writes:

I’m currently serving in the National Guard.

I use TRS as our only insurance for myself and my family.  I serve in the Air National Guard, but I have an FSA available through my civilian employer.  I was wondering if I can contribute to and use an FSA to pay for my TRS premium, and any other health care related expenses?  

Can you contribute to either a Health Savings Account or Health Care Flexible Spending Account with your company while your primary insurance is Tricare Reserve Select?

I believe the answer is no to the HSA, and yes to a FSA, but I am having a hard time clarifying that research. 

Thanks!

Thanks for your service, and thanks for reading!

For my answer, I am assuming you and your dependents are all on the same medical plan and you are not split between your self ‘solo’ on TriCare with your dependents enrolled on another health plan. Continue reading


FEHB OPM Health Care Rates 2014

Happy Open Season, everyone!

OPM announced its Federal Employee Health Benefit (FEHB) rate hikes for 2016 FEHB Open Season.

OPM states that the average rate hike is 6.4 percent, which does not sound that bad.

…But the real news is not quite this good- Since none of the ‘averages’ are participation-weighted (that is, they pay no attention to what FEHB plans Feds actually select), the averages provided by OPM, GovExec, and FedTimes are essentially useless.

I’ll give you the only statistic that matters here, the one that applies to 40 percent of Feds. Continue reading


LegoMafiaMan

 

Recently Anthem announced the biggest Identity Breach yet.  It affects over 80 million people- including as many as 4 in 10 Feds.

This one makes the Home Depot and Target breaches look like small potatoes.

According to Anthem’s own webpage of FAQ (https://www.Anthemfacts.com), the breach affects all current and former Anthem customers, as well as customers who have used ANY Blue Cross/Blue Shield provider (includes Feds enrolled in  FEHB) in any of the states where Anthem does business: Continue reading


FEHB OPM Health Care Rates 2014

Happy Open Season, everyone!

OPM announced its Federal Employee Health Benefit (FEHB) rate hikes for 2015 FEHB Open Season.

OPM states that the average rate hike is 3.2 percent, which is not too bad.  The real news is not quite this good-  Since none of the ‘averages’ are participation-weighted (that is, they pay no attention to what FEHB plans Feds actually select),  the averages provided by OPM, GovExec, and FedTimes are essentially useless.

I’ll give you the only statistic that matters here, the one that applies to 40 percent of Feds.  Continue reading