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Question for the Money Doctors

Question submitted on Oct 23, 2018.

Question

I am 65 and still working full-time at a large employer (way over 20 employees). I have health insurance through my employer and have a high-deductible plan that includes an HSA. My wife (64) was diagnosed with pancreatic cancer last month. I decided I should begin claiming social security for her since her life expectancy has decreased. I know you are not allowed to have an HSA if you are claiming social security - or if you are claiming Medicare, which you are automatically enrolled in when you begin social security. I want to know your advice on choosing a financial advisor who can help me with these issues. I believe I will need to add my HSA deductions to income and pay estimated tax. But, I would like to consult with someone who can provide technical guidance and advice. Thank you.

Answer

You have done a nice job with the facts of your situation.  Search for a CPA that also has the PFS certification in your area using the "find a CPA" on www.aicpa.org Best of luck to your wife.


For additional information visit http://www.360financialliteracy.org/

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