AS THE COUNTRY DEALT WITH THE FALLOUT from the coronavirus pandemic this spring, lawmakers and regulators scrambled to ease the pain of record job losses and other blows to Americans’ pocketbooks and health. One result that has largely flown under the radar: Health savings accounts and flexible spending accounts, which offer a tax-advantaged way to save money for certain medical or dependent-care expenses, have become more generous. Some of the changes are temporary, but others have no expiration.
More expenses are covered. Thanks to the Coronavirus Aid, Relief and Economic Security (CARES) Act, you can use money from an HSA or a health care FSA to pay more expenses—and these changes are permanent. Over-the-counter drugs purchased January 1, 2020, or later are now HSA- and FSA-eligible without a prescription. Those include pain relievers, cough suppressants, antihistamines and other drugs that treat issues from heartburn to acne, says Shobin Uralil, cofounder and chief operating officer of Lively, an HSA provider. Feminine-hygiene products such as tampons, pads and menstrual cups are also qualifying expenses under the law.
Continue reading your story on the app
Continue reading your story in the magazine
YOUR GUIDE TO GIVING
Take a closer look at whether you’re getting the most bang for your donated bucks.
SMART MOVES TO MAKE BEFORE YEAR-END
There’s still time to save money and shape up your personal finances before the clock strikes 12 on New Year’s Eve.
THE KIPLINGER DIVIDEND 15 A Bounce-Back Year for Dividends
All of our favorite dividend stocks hiked payouts over the past year, and yields, on average, trounced the yield of the S&P 500.
Make Your Portfolio More Defensive
Risk is rising on Wall Street. Make sure you’re prepared.
The Inheritance Challenge
Some inherited assets are tax-friendly, but under new rules, others come with a hefty tax bill. We help you get the most out of a legacy.
Roaring Twenties 2.0
Stock market boom? Check. Economy on fire? For now. But this century isn’t like the last in important ways.
INVESTORS: DON'T ABANDON CHINA
Turmoil in China has been all over the financial news, but the volatile market is too big to ignore.
FLOOD INSURANCE MAY COST YOU MORE
More than 3 million homeowners who live in coastal areas will see premiums for federal flood insurance rise this year as the Federal Emergency Management Agency adjusts insurance rates to reflect the risks of climate change.
4 Trends for the Coming Decade
From how long you work to where you choose to live, retirement will change in ways you may not expect.
Think Twice About Applying for Credit
Credit card issuers are offering a lot of incentives, but your credit score could suffer.
MEET THE COUPLES - Married at First Sight
The Lone Star State gets a little less lonely as Season 13 of the arranged-nuptials sensation heads to Houston. And according to exec producer Montré Burton, the show is “bringing more diversity than ever,” including its first Asian American couple, Bao and Johnny (above), and a cast mostly in their thirties instead of twenties. Here, we introduce the twosomes (matched by Married’s stable of experts) who will permanently altar their future.
LiDAR MAPPING A GOLD MINE
When Consolidated Gold Mine in Dahlonega, Georgia, wanted to open more of its areas to public tours, they asked Inspired Intelligence, a family owned and operated drone business in Buford, Georgia, to help. Inspired Intelligence CEO and founder Nir Pe’er explained, “Besides drone technology, we also used new, amazing cutting-edge technology called LiDAR.
How four master builders defined the path of the 2021 BMW R 18
Yoyo Chang turned a hunch born in an English high school cafeteria into a next-generation payments app backed by serious, well-heeled investors
The Fintech Revolution Is Finally Here— And So Are the Regulators
SPEAKING IN OCTOBER to his banking brethren at the world’s biggest payments confab—the annual Sibos conference— Jamie Dimon didn’t mince words.
HOSPITALS CAN CARE FOR MEDICARE PATIENTS AT HOME IN PANDEMIC
Hospitals will be allowed to care for Medicare patients in their own homes during the pandemic under a government program announced Wednesday to help hospitals deal with the latest surge.
GLOBAL TECH GIANTS THREATEN TO LEAVE PAKISTAN OVER NEW RULES
Internet and technology companies have threatened to leave Pakistan after the government granted blanket powers to authorities to censor digital content, a move critics say was aimed at curtailing freedom of expression in the conservative Islamic nation.
LIGHTS, CAMERA, SELL: RETAILERS WANT YOU TO WATCH AND SHOP
When Jenna Powell gets in front of a camera, she can sell $10,000 worth of sparkly dresses and tie-dye hoodies in 40 minutes.
PFIZER: COVID-19 SHOT 95% EFFECTIVE, SEEKING CLEARANCE SOON
Pfizer said this week that new test results show its coronavirus vaccine is 95% effective, is safe and also protects older people most at risk of dying — the last data needed to seek emergency use of limited shot supplies as the catastrophic outbreak worsens across the globe.
SAL'S POLIKARPOV I-16
Valery Chkalov Red Five