Category: News

In an era where healthcare expenses continue to rise, finding ways to save on medical costs has become an essential part of financial planning. Lively – a platform that empowers users to take control of their healthcare finances and make informed decisions.

By understanding the components of healthcare costs, utilizing Lively’s online HSA management tools, taking advantage of educational resources, and implementing practical tips, you can make informed decisions and save on healthcare expenses.

Discover how Colony Care can help you harness the power of Lively to save on healthcare costs by visiting their website: Lively Website

What is an HSA?

A Health Savings Account (HSA) is a special savings account that allows individuals to save money, often on a pre-tax basis, to pay for qualified medical expenses. HSAs are typically used in conjunction with high-deductible health insurance plans and offer tax advantages, making them an effective way to save for healthcare costs while reducing taxable income.

The funds in an HSA can be used for a wide range of medical expenses, including doctor’s visits, prescription medications, and other healthcare-related costs. Any unused money in the HSA can roll over from year to year, making it a long-term savings tool for healthcare expenses.

If you qualify, an HSA is a simple and clever way to cover medical expenses for both yourself and your dependents. Utilize Lively’s HSA Guide to learn more about HSAs as an effective tool for saving money that benefits you both now and in the future.

Understanding Healthcare Costs

Before diving into how Lively can assist in saving on healthcare costs, it’s crucial to understand the key components of these expenses:

• Premiums: The monthly fee you pay for your insurance plan.
• Deductibles: The amount you pay out-of-pocket before your insurance coverage kicks in.
• Co-payments and Co-insurance: The portions of medical expenses you’re responsible for after meeting your deductible.

What is Lively?

Lively is more than just a health savings account (HSA) provider; it’s a comprehensive financial wellness platform designed to make managing healthcare costs easier and more efficient.

Here’s how you can use Lively to save on healthcare expenses:

• HSA Management: Lively simplifies the setup and management of HSAs, which offer tax advantages while helping you save for qualified medical expenses. By contributing to your HSA, you can reduce your taxable income and pay for medical costs with pre-tax dollars.
• Budgeting and Savings Tools: Lively offers various tools to help you budget for healthcare expenses. Set savings goals, track your contributions, and monitor your spending on medical services, all from a user-friendly dashboard.
• Learning Resources: Lively provides educational materials, including articles, webinars, and guides, to help users become more informed about healthcare costs, insurance plans, and saving opportunities. Accessing these resources equips you with the knowledge to make cost-effective healthcare decisions.

Lively HSA Eligibility: What You Need to Know

When it comes to eligibility for opening or contributing to an HSA through Lively, there are two key factors to consider: the ability to have an HSA at all and the maximum yearly contributions.

Requirements Related to Your Health Plan

To be eligible for an HSA, you must be covered by a specific type of health insurance plan known as a high-deductible health plan (HDHP). HDHPs come with lower monthly premiums compared to plans with lower deductibles. This makes them a good choice for individuals who don’t anticipate having frequent medical expenses or those who wish to save on their monthly healthcare costs.

HSAs do not have income restrictions, meaning anyone can use one and enjoy the associated tax benefits. For more details on your eligibility for an HSA, you can refer to IRS Publication 969 or review Lively’s account eligibility guide.

Tips for Maximizing Savings With Lively

To get the most out of Lively and learn how to save on healthcare costs effectively, follow these tips:

• Contribute Regularly: Make consistent contributions to your HSA to maximize your savings and tax benefits.
• Attend Lively Webinars: Attend webinars and educational sessions to enhance your understanding of healthcare finance.
• Stay Informed: Keep up with Lively’s resource center to remain informed about the latest healthcare cost-saving strategies and trends.
• Set Goals: Establish savings goals and actively monitor your progress within Lively’s platform.

Lively empowers you to take control, save more, and make informed decisions about your healthcare expenses, ensuring a healthier financial future.

Start your journey towards smarter healthcare spending with Lively today.

Healthcare costs are a significant part of your financial journey, but with the right tools and knowledge, you can navigate them successfully. Ready to start saving on healthcare costs? Visit Lively’s website partnered with Colony Care to learn more about their services and take control of your healthcare finances.

Tweens and teens are on a constant rollercoaster of emotions, and the hormonal changes don’t help the situation. Most parents can vividly remember their own teen years and what that time was like, but they didn’t have the challenges today’s kids deal with. Too much communication can be damaging to young kids, especially if it’s negative and/or threatening. Are you worried about your own child? Here’s what to do if you think your teen is struggling with mental health.

Our Communication Culture

Anyone can reach out to someone else in one instant. It occurs every second of every day, and teens are the most prolific. While adults may regularly use the internet for business, teens are overloaded with TikTok, Instagram, Snapchat, Facebook, DMs, voicemails, emails, text messages, and YouTube. Many teens spend their entire day on some of these platforms according to the Pew Research Center report from 2022.

Teen insecurity hasn’t changed over the decades, it is just more a part of their daily lives due to social media and the constant comparison to others. In addition to bullying in school, today’s teens are also faced with cyberbullying.

Signs of Emotional Distress in Teens

Is your tween or teen just being a “teenager” or is something more serious going on? There are some telltale signs that they may be in emotional distress and struggling with their mental health.

• Tiredness and loss of energy
• No interest in usual activities
• Change in appetite
• Social isolation
• Poor school performance and absences
• Less attention to hygiene
• Signs of self-harm
• Anger and irritability

Be aware that if your teen is wearing long sleeve shirts in the heat, it may be a way to cover up cutting and other types of self harm.

Teens may suddenly resort to drugs and alcohol when they are struggling.

What Should a Parent Do?

Talk with your teen one on one. Take them out for lunch or find a private place. Assure them you are concerned about their behaviors of late, and ask if there is anything you can do to help. Ask if anything is bothering them. If they don’t want to respond right away, just wait and be ready to listen.

Give them every opportunity to talk. Maybe let them know that you get depressed sometimes too, and there is nothing to be ashamed of. Ask if they would like to talk to someone else.

Watch for any talk or signs of suicide, even if they appear to be joking. Don’t hesitate to call the Suicide & Crisis Help Line at 988.

If your child refuses to acknowledge anything is wrong, or if you become more concerned, there is always help.

If you or your child would like to speak with a licensed professional, contact Colony Care by Requesting an Appointment to schedule a mental health counseling or psychiatry appointment with one of our affiliated clinicians in Massachusetts. Our therapists and psychiatric providers are specially trained and experienced to help teens and parents overcome the difficulties of adolescence and improve their mental wellness.