Information

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A tax-free Health Savings Account (HSA) can help protect you against high or unexpected medical bills.

 

INFO FOR OUR SENIOR MEMBERS....

2009 UPDATE ON MEDICARE....During 2009 Medicare members will pay $295 (the deductible) before they have any coverage. Then after your total drug costs reach $2700 you will have reached the "gap". At this point you will have to pay 100% of the costs until your out-of-pocket drug costs reach the next level which is the Catastrophic Coverage which begins after your yearly out-of-pocket drug costs reach $4350. After this period you will have to pay the greater of $2.40 for generic drugs (including brand name drugs treated as generic) and $6 copays for all other drugs or a 5% coinsurance . If you have not purchased a plan that covers generic drugs during your "gap" period, you are responsible for all of your drug costs during the "gap" period.

Low income people may qualify for help while in the "gap" period. To see if you qualify for a low-income assistance contact Social Security by calling 1-800-772-1213. 7 AM to 7 PM Central Time. (TTY phone # is 1-800-325-0778) .

2009 Combined Traditional and Roth IRA Contribution Limits:

If you are under 50 years of age at the end of 2009: The maximum contribution that can be made to a traditional or Roth IRA is the smaller of $5,000 or the amount of your taxable compensation for 2009. This limit can be split between a traditional IRA and a Roth IRA but the combined limit is $5,000.The maximum deductible contribution to a traditional IRA and the maximum contribution to a Roth IRA may be reduced depending on your modified adjusted gross income.

If you are 50 years of age or older before 2010: The maximum contribution that can be made to a traditional or Roth IRA is the smaller of $6,000 or the amount of your taxable compensation for 2009. This limit can be split between a traditional IRA and a Roth IRA but the combined limit is $6,000. The maximum deductible contribution to a traditional IRA and the maximum contribution to a Roth IRA may be reduced depending on your modified adjusted gross income.