Delaying the enrollment of medical care. What do you know

Dear LizWhen my husband was approaching 65 years, he was working and covered with a highly discount health care plan (HDHP) with a health savings account by the employer. The owner of his employer or the local social security office had tangible advice on how to move forward in registration in medical care, but after a huge research, he was finally able to register. Now I am approaching 65 years. My husband is still working, and I am still covered with his health insurance, although both are in his name. Do I register in Medicare in time or delay registration as he did?

answerRelaying medical care can lead to penalties that can increase your premiums for life. If you or the husband are still working with a business owner with 20 or more employees, however, you can generally choose to maintain health insurance submitted by the employer and delay applying for medical care without punishment. If you lose coverage or employment ends, you will have eight months to register before punishing.

The delay in medical care also allows your husband to continue submitting your on behalf of you in the health savings account. In 2025, the maximum HSA contribution is 4,300 dollars for self -coverage and $ 8,550 for family coverage, as well as the contribution of catching a value of $ 1,000 for account holders 55 and above. Once registered in Medicare, HSA’s contributions are no longer permitted.

Medicare itself refers to communicating with the employer’s advantages section to confirm that you are appropriately covered and can delay your request. Let us now hope that the human resources department of the employer has reached this important topic.

Dear LizWe read your last column about capital gains and home sales. Our understanding is that if you sell and then buy a property of equal or larger value within a window of 180 days, the basis for tax purposes is the purchase price, in addition to exempting $ 500,000, in addition to improvements to property, incomplete for consumption, whatever this number, then profit above must be re -invest or it is subject to capital equipment. We talked to our comprehensive peace agreement on this matter and referred us to a specialized site in 1031 exchanges.

answer: Two different groups of tax laws together have escaped together.

Only the sale of your primary residence will be eligible to exempt home sale, which the couple can pardon up to $ 500,000 of tax sales profits. You must have possessed and lived at at least two years of previous five years.

Meanwhile, 1031 exchanges allow you to postpone capital gains on investment property, such as commercial or rented real estate, as long as you buy a similar property within 180 days (and follow a set of other rules). Alternative property should not be more expensive, but if they are less expensive or have a mortgage smaller than the property you sell, you can condemn taxes on the difference.