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Original Medicare helps cover medically necessary hospital and outpatient care, but it does not generally pay for routine dental care, routine eye exams for glasses, hearing aids, or hearing-aid fitting exams. Before choosing coverage for 2026, review what is covered, what is limited, and what you may need to budget for separately. Dental, vision, and hearing benefits depend on your type of Medicare coverage and the plan available in your area. 1. What Original Medicare Usually Does Not Cover Original Medicare includes Part A and Part B. It generally does not cover routine dental cleanings, fillings, dentures, implants, routine eye exams for glasses or contacts, hearing aids, or exams for fitting hearing aids. Service Original Medicare Coverage Important Exception Routine dental care Generally not covered. Certain dental services may be covered when closely connected to a covered medical treatment. Routine vision care Routine refraction exams and standard glasses are generally n...

IRS Section 121 can allow eligible homeowners to exclude up to $250,000 of gain from the sale of a main home, or up to $500,000 for many married couples filing jointly. This is not a senior-only tax rule, but several special rules can matter when retirement, health changes, divorce, or the death of a spouse affects the timing of a home sale. Special Section 121 rules may affect the timing and amount of a home-sale gain exclusion. 1. Surviving Spouse Rule: When the $500,000 Exclusion May Still Apply A surviving spouse may qualify for a $500,000 exclusion even when filing alone, provided all IRS conditions are met. The home must be sold within two years after the spouse’s death, and the surviving spouse must not have remarried by the sale date. The sale occurs within two years of the spouse’s death. The surviving spouse has not remarried by the sale date. Neither spouse used a home-sale exclusion on another property during the prior two years. The ownership and residence tests...

Selling a longtime home can involve both federal and state tax rules. Even when you qualify for the federal IRS Section 121 home-sale exclusion, state income-tax filing rules, closing paperwork, withholding requirements, and transfer taxes may still affect your transaction. This guide explains several common state-level issues for homeowners planning a sale. A federal home-sale exclusion does not eliminate every state filing or closing requirement. 1. Start With the Federal Section 121 Rule Eligible homeowners may exclude up to $250,000 of gain from a main-home sale, or up to $500,000 for many married couples filing jointly. In general, you must meet the ownership test, use test, and two-year look-back rule described in IRS Publication 523. State tax analysis begins only after you calculate the federal result. A state may follow the federal exclusion, require closing documents before allowing an exemption, or tax any remaining gain under its own income-tax rules. 2. Four Com...

For many older homeowners, selling a long-time residence can create a large gain on paper. Federal tax law may allow you to exclude part or all of that gain under IRS Section 121 . This is not a senior-only benefit: the same core rules apply regardless of age. The key question is whether the property was your main home and whether you meet the ownership, residence, and timing tests. A home sale exclusion depends on your facts, records, and the timing of the sale. 1. The Section 121 Home Sale Exclusion If you have a gain from selling your main home, you may be able to exclude up to $250,000 of gain from federal income tax. A married couple filing a joint return may be able to exclude up to $500,000 . The exclusion applies to gain , not the full sale price. Your gain is generally calculated as: Selling price − selling expenses − adjusted basis = gain or loss Your adjusted basis may include the original purchase price, certain closing costs, and qualifying capital improveme...

The Affordable Care Act (ACA) Marketplace, often called “Obamacare,” may offer a Premium Tax Credit (PTC) that lowers the monthly cost of qualified health insurance. Depending on your household income, location, age, and plan options, the credit may reduce a plan’s monthly premium to $0 . A $0 premium does not mean all health care is free; deductibles, copayments, prescriptions, and provider-network rules can still apply. Marketplace savings are connected to both your insurance application and your federal tax return. 1. What the Premium Tax Credit Does The PTC is a federal tax credit for eligible people enrolled in a Marketplace health plan. You may take all, some, or none of the credit in advance. When used in advance, the Marketplace sends the amount directly to the insurance company, reducing the premium you pay each month. This is called the Advance Premium Tax Credit (APTC) . Your final credit is calculated when you file federal taxes. The IRS compares the APTC used durin...

  “Obamacare” is the common name for the Affordable Care Act (ACA) . It is not a government insurance company. Instead, the ACA created consumer protections and health insurance Marketplaces where eligible people can compare private health plans, check for savings, and enroll in coverage. ACA Marketplace coverage can be especially important for freelancers, self-employed workers, people between jobs, early retirees, small-business owners, students, and households without affordable employer-sponsored coverage. This guide explains what Obamacare is, how the Marketplace works, the difference between Medicaid and ACA plans, and how Bronze, Silver, Gold, and Platinum plans compare in 2026. Quick Answer Obamacare is the Affordable Care Act. Marketplace plans are private health insurance plans that must follow ACA consumer-protection rules, including coverage for pre-existing conditions and essential health benefits. 1. What Is O...

  A Health Savings Account, or HSA, can be used for current medical expenses, future health-care costs, or long-term retirement planning. The account is not only a spending account. When used carefully, it can also be a tax-advantaged investment account. The key is understanding the rules. HSA contributions, investment earnings, and qualified medical distributions can receive favorable federal tax treatment. But eligibility, contribution limits, investment risk, Medicare timing, and recordkeeping all matter. For contribution limits and basic eligibility rules, read HSA for Retirement in 2026: Contribution Limits, Tax Benefits, and Medicare Rules . Key Idea An HSA can offer three federal tax advantages: eligible contributions may be deductible or excluded from income, account earnings are generally tax-free, and qualified medical distributions are generally tax-free. 1. Why an HSA Can Be Valuable for Long-Term Planning A...