Social Media Marketing Trends to Watch

Social Media absatzwirtschaft Trends to WatchCredit Vasin Lee/Shutterstock Social media is everchanging. With algorithm changes, new features and a constant stream of updates, it can be difficult to stay up-to-date with the latest social trends.It takes work to stay on top of all the changes, said Chelsea McDonald, senior social media strategist at DEG Digital. The trends are just that for a reason its whats popular and happening right now, which was not popular two weeks ago and will be dead two months from now.However, its important to leverage new trends and to anticipate any new ones. Staying current will keep your business competitive and set you apart from other businesses. Heres what the future of social media marketing looks like, according to industry experts.Editors notenzeichen Looking for information on social media marketing services for your business? Use the questionnaire below, and get quickly connected to our vendor partners to learn more about a customized strategy and pricing for your businessGreater investment in social media advertising.Social media has proven to be an effective space for marketing, and shouldnt be left out of your marketing budget.If you dont have a paid social strategy and budget in 2019, you are quickly going to become irrelevant, McDonald said. For years the industry has been saying organic is dead and that its a pay to play space, and more than ever we binnensee this on the rise.StitcherAds CIO Conor Ryan agrees and believes brands will increase their spending on social advertising, particularly in the retail industry.Facebook has delivered a suite of advertising products specifically for retail that enable brands to do things they couldnt before, Ryan said. The platform is making it easier for retailers to innovate, and this activity will only be amplified in 2019.Interested in finding the right social media marketing solution for your small business? Check out our best picks.The rise of m icroinfluencers.Before social media influencers, brands relied on celebrities and characters to sell their products. When audiences started to crave more authentic advertising, brands turned to social media influencers.But now larger influencers are struggling to maintain authenticity and are becoming increasingly expensive. So, brands are turning to microinfluencers, who have high influence over their specific niche.The ... microinfluencer will gain some additional share and influence this space, as their content is less likely to be driven by sponsors, McDonald said.Stories and IGTV for advertising.Instagram and Facebook Stories havent been around for long, but it has quickly become a popular feature that marketers shouldnt ignore.Now, people are posting Stories and video, and its crucial that advertisers make the transition to unterstellung mediums, said Ryan. To effectively reach consumers, ads need to feel authentic and unobtrusive. Instagram Stories is a non-interruptive adver tising platform that aligns with consumers preferences.Launched in June 2018 and owned by Instagram, IGTV is new to the social media scene. Its a vertical video application where users can watch long-form video from popular Instagram creators. The application isnt a popular medium for advertising yet, but marketers should keep an eye on the platform for future opportunities.While the expectation is that IGTV will ultimately carry advertising, for now it does not, said Todd Krizelman, CEO of MediaRadar. We forecast that 2019 will continue the trend. Although IGTV peaked as the top 25thU.S. iPhone app immediately after launch, it has since fallen off dramatically.Increased authenticity.Everyone who works in the digital space should try to stay up-to-date with the latest trends. However, just because you know the latest trends doesnt mean you have to participate in them. Evaluate whats right for your brand especially in a time when consumers are calling out inauthenticity within brand s and looking to other sources, McDonald added. Only do what makes sense for your brand. Saige Driver Saige received her Bachelors degree in Journalism and Telecommunications from Ball State University. She is the social media strategist for geschftliches miteinander.com and Business News Daily. She also writes reviews and articles about social media. She loves reading and her beagle mix, Millie. Start Your Business Business Ideas Busine ss Plans Startup Basics Startup Funding Franchising Success Stories Entrepreneurs Grow Your Business Sales absatzwirtschaft Finances Your Team Technology Social Media Security Build Your Career Get the Job Get Ahead Office Life Work-Life Balance Home Office Lead Your Team Leadership Women in Business Managing Strategy Personal Growth Find A Solution HR Solutions Financial Solutions Marketing Solutions Security Solutions Retail Solutions SMB Solutions About Us Contact Us lebenspartner with Us Copyright Policy Terms of Use Privacy Policy Do Not Sell My Personal Information Advertising Disclosure Sitemap 200 Fifth Avenue, Second FloorWaltham, MA 02451infobusinessnewsdaily.com Copyright document.write(new Date().getFullYear()) All Rights Reserved. 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Smart Ways to Ask For Help Without Seeming Incompetent

Smart Ways to Ask For Help Without Seeming Incompetent The Beatles got by with a little help from their friends, so why do you feel bad asking for assistance at work? You want to be perceived as confident, clever, and capable on the job because you are. But you also need to get out of your comfort zone in buchen to grow, and sometimes that requires biting off more than you alone can chew. Taking on big projects often means taking on big problems. You can handle complicated assignments and you are smart enough to realize when you need help to complete them. Here are five ways to ask for help at work without coming off as incompetent.1. Approach with confidence Everyone needs help sometimes, so dont apologize for it. Part of your managers job is to guide your projects. No one is hired with all the knowledge they need to do every task in the job description. Your manager expects you to consult her when you get stuck. Before going to her, figure out why you need help. Is this project bey ond your skill set? Do you have so much other work to do that you cant meet a deadline? Then, be courageous. Instead of approaching her with, Im sorry to bother you with this. Go with, Id appreciate your help with this.2. Do your homework Go to your manager with a specific question, situation, or plan. You may think you dont even know where to start, but dont let that overwhelm you. Make a bullet point list of the ways youve already tried to solve the issue so she doesnt waste time trying those solutions again. Write down any questions you have. Be ready to give a high-level synopsis of the situation. To focus your thoughts, use the who, what, when, where, why, and how method Who is involved in the problem? What exactly is the problem? When did the problem occur? Where did the problem happen? Why did the problem arise? How did the problem develop? Bringing these answers to your coach gives her context and the seeds of a plan. 3. Know whose help you need Has a colleague already been through a similar situation? If the task is over your head, try to find a Subject Matter Expert within the company you can sound out before approaching your manager. Is this something a coworker can assist you with? If you are temporarily overwhelmed with responsibilities, is there a peer willing to help you with a short-term task?4. Be willing to reciprocate The best way to ask someone for help is to have already helped them, so be proactive. When a peer asks you for help, try to let Yes, be your first response so you can pay it forward. The time will come when you need to lean on them. Try to maintain an open line of communication with your manager. If the only time you talk to her is when you have a problem, she wont want to see you. Seek mentors both inside and outside the company. You can tap these resources when you get in trouble.5. Remember that timing is everything Make a good effort to accomplish the work yourself, but dont wait until the project is so at risk that the cli ent is angry. Most managers prefer to clean up a small mess rather than a big one. And dont be a repeat offender. If your boss sends you emails regarding how to solve this problem, flag them and keep them for future reference. If the two of you are meeting about the problem, take notes and file them. Thank her for her help. If your company has a recognition, incentive, or reward program, make sure you use it to acknowledge her and every one else who helped you.

Spark Hires Top 25 Must Read Blogs for Employers - Spark Hire

Spark Hires Top 25 Must Read Blogs for Employers - Spark HireAt Spark Hire, we know hiring top talent is no easy feat. With more applicants than ever, its especially important to make sure youre staffing your company with the right candidates. Thankfully, the HR field is full of great thinkers willing to share their insights and engage in meaningful discussions about the challenges we all face. Whether its talking about social media sourcing or video interviewing, these great bloggers are on the cutting edge of the recruiting field.Below are the Top 25 Must Read Blogs for Employers looking to hire the best talent. These blogs, listed in no particular order, are full of useful advice, great tips and funny anecdotes from the world of hiring.1. HR Bartender is run by author and HR pro Sharlyn Lauby, with frequent updates on timely issues. Like any good bartender, Lauby weighs in on the issues of the day and promotes conversation among a lively group of commenters. Congratulate HR Barten der on Twitter2. The HR Capitalist is the blog of HR pro Kris Dunn, who has built a following with a cocktail of great, timely information and his fun blogger personality.Congratulate The HR Capitalist on Twitter3. SHRM (the Society for Human Resource Management) is a great source of information for all HR professionals. The site has up-to-date information, surveys, and more to keep busy professionals in the loop with the latest issues in hiring.Congratulate SHRM on Twitter4. Tribe HR is a great blog to find detailed posts about everything from hiring to maintaining a good workplace culture.Congratulate Tribe HR on Twitter5. ERE.net is one of the best blogs when it comes to thought-provoking, timely content focused on the issues facing human resources professionals. Not only is ERE a top blog with quality content, it also has a dedicated base of great commenters bringing their own knowledge to the table.Congratulate ERE on Twitter6. Simply Lisa is written by Lisa Rosendahl, a pro wi th more than 18 years experience in the field. The blog is a mix of tips, advice, and personal insights from someone who has seen her fair share of the HR field.Congratulate Simply Lisa on Twitter7. TLNT is a great resource when looking for whats new in the world of recruiting and human resources. This top blog is updated daily with top quality thinking from HR leaders about the concerns and important issues facing professionals on the road to better hiring.Congratulate TLNT on Twitter8. Work Awesome is trying to help employers make their workplace into a more awesome place with tips and tricks for improving your work life. Whether its making the most of a small office space or how to use mediation to increase your productivity, Work Awesome is there to add some awesome to your office.Congratulate Work Awesome on Twitter9. The Grindstone has a great variety of posts on everything from better hiring to office politics, all from a women-centric viewpoint. But the site isnt exclusive, there are plenty of top quality tips and tricks for both genders to enjoy.Congratulate The Grindstone on Twitter10. Blogging4Jobs is a great blog with a variety of contributors sharing insights into all aspects of the human resource field. Led by blogger Jessica Miller-Merrell, whose fun personality is scattered throughout, Blogging4Jobs is an enjoyable as well as informative read.Congratulate Blogging4Jobs on Twitter11. HR reMix is a blog dedicated to questioning typical recruitment processes and how they can be made more efficient. The blog is frequently updated with top quality insights into how to change the hiring process for the better.Congratulate HR reMix on Twitter12. The HR Introvert is proving that extroverts dont have all the fun. This blog tackles the issues in the human resources industry with an introverts wit and wisdom. It proves that just because introverts are quiet doesnt mean they dont have anything to say.Congratulate The HR Introvert on Twitter13. Upstart HR i s a blog about facing the issues in the hiring field with boldness. The site is full of interesting content written in a fun and accessible way. Just ask the sites engaged commenter base.Congratulate Upstart HR on Twitter14. HR Ringleader is the blog of HR professional Trish McFarlane focusing on tips and tricks for becoming an HR leader, instead of a follower.Congratulate HR Ringleader on Twitter15. Evil HR Lady is a destination for all HR professionals who have ever gotten the unfair evil rap. If youve ever related to poor human resources worker Toby from The Office, this is the blog for you. Filled with top quality knowledge, insights, and great personality, this is definitely one to bookmark.Congratulate Evil HR Lady on Twitter16. Never Mind the Manager is the place to go if you want to learn how to better inspire your workforce. This blog focuses on how to manage better and motivate your employees to greatness.Congratulate Never Mind the Manager on Twitter17. HR Fishbowl is a g reat blog for entertaining insights about the world of HR from those who have spent time in the trenches. Better yet, this fishbowl is filled with great comments from readers sharing their knowledge and experiences.Congratulate HR Fishbowl on Twitter18. Fistful of Talent is a top HR blog sharing knowledge, advice, and tons of personality from the sites many expert contributors. This blog certainly has more than a fistful of great insight to share with readers.Congratulate Fistful of Talent on Twitter19. No Excuses HR is written by Jay Kuhns, a human resources VP, as a resource for those tired of making excuses about their old hiring practices. The blog offers tips, advice, and timely information about how to hire and manage better.Congratulate No Excuses HR on Twitter20. The Cynical Girl is written from a womans perspective by Laurie Ruettimann, tackling the top HR issues of the day. Frequently updated and with a great commenter base, this blog is a must read.Congratulate The Cynica l Girl on Twitter21. Welcome to the Occupation is a great blog focusing on hiring, managing your career, and really enjoying your work along the way.Congratulate Welcome to the Occupation on Twitter22. Everyday People is a blog to help you get your everyday employee to become a superstar worker with great management techniques and advice.Congratulate Everyday People on Twitter23. HR Insomniac is a frequently updated blog from a knowledgeable insomniac with years of HR experience. Dont let hiring woes keep you up at night, read this blog insteadCongratulate HR Insomniac on Twitter24. The Tim Sackett Project is full to the brim with timely content relating to the HR industry. Better still, Sackett brings his fun voice and big personality to his helpful insights, making this blog an enjoyable read.Congratulate The Tim Sackett Project on Twitter25. Boolean Black Belt is the place to go if you want top tips on how to leverage social media for sourcing and recruiting the best candidates.C ongratulate Boolean Black Belt on TwitterWhile there are many great blogs for employers, these 25 top off our list of must reads. They offer valuable information and unique content, have many followers, and promote meaningful discussions.What do you think? What other blogs are a must read?Claim your badgeCopy and paste the snippet of HTML code from the text box below into your blogs sidebarpa href=https//hr.sparkhire.com/human-resources-news/spark-hires-top-25-must-read-blogs-for-employersimg src=https//hr.sparkhire.com/wp-content/uploads/2012/08/best-employer-blogs.png alt=Top 25 Employer Blog Badge height=150 width=150/a/pEnjoy this list? Check out our list of the best blogs for job seekers

How to Break Out of the Frenzy Trap

How to Break Out of the Frenzy Trap How to Break Out of the Frenzy Trap Frenzy is one of the major obstacles preventing people from leading engaged, happy, and fulfilled lives personally and professionally. Between ur increased workloads and the constant access we have to one another thanks to technology, were too busy to really connect in meaningful ways or take care of ourselves. As a result, we dont listen intently, pay attention to our peers, (genuinely) smile at our customers,or find the right kind of support.During Inspired Works leadership and engagement programs, we give participants a customized series of questions to answer at the beginning of every day. When people answer these questions,they start to find a greater sense of mission, vision, and purpose. The value of using these open-ended questions is they leave room for our own creativity and truth to step forward. This is why these questions are far more powerful than simple checklists one of the frenzy traps for mid -managers.Here are a few example questionsWhat is todays ideal blend of strategic and tactical work?Who needs my attention, support, and praise?How can I best market my ideas? Initiatives? Agenda?How can I best take care of myself?What is the biggest problem I am ready to solve?How can I best expand my support system, inside and outside of the organization?When we consider our workday in the light of these questions,we can clarify for ourselves what is truly important and valuable in the day ahead. We become less likely toget caught up in the minutiae and more ready to articulate boundaries where necessary.Every workplace brings its own unique needs to the self-inquiry process. If you find yourself regularly overwhelmed, try answering these questions. It is one of the simplest ways to develop a stronger discipline in how you spend your time at work.David Harder is the founder ofInspired Work.

Employer Branding Plays a Lead Role in These Healthcare Stories for Good Reason

Employer Branding Plays a Lead Role in These Healthcare Stories for Good ReasonEmployer Branding Plays a Lead Role in These Healthcare Stories for Good ReasonEmployer Branding Plays a Lead Role in These Healthcare Stories for Good Reason Rossheimfruchtwein healthcare providers, whether theyre hospitals, rehabs and skilled nursing facilities, share a common recruiting goal theyre looking to persuade job candidates that its top priorities are patient-centered care, a supportive organizational culture and clinical innovation.That similarity tends to flatten what is otherwise an important message. Its very hard for behauptung organizations to differentiate themselves, says Marcia Faller, Ph.D., RN, chief clinical officer for staffing firm AMN Healthcare. Their mission statements are very often the same.If youre wondering how your company can differentiate itself from the pack, we have the answer. The key to standing out is having a distinct and clearly-defined employer brandthats deliver ed to the right audience at just the right time, says Sean Broderick, VP of Employer Branding at Monster.We checked in with a number of healthcare organizations that are doing a great job of aligning their employer brands with core values, while managing to stand out with distinction. Their stories will help inform your companys own employer brandjourney.AMN brands its healthcare staffing business in more ways than oneAs one of the largest medical staffing firms in the country, AMN Healthcare meets the needs of hundreds of provider organizations. Thus the agency must project its own employer brand to job candidates in a very competitive talent marketas it helps clients project their own brands as healthcare employers.In filling thousands of requisitions for contract healthcare professionals, we move nurses and other clinicians around, so we need a national footprint, says Faller. It requires a robust brand message to qualified clinicians that focuses on the variety and volume of job opportunities that the agency offers.To meet that need, social mediahas become the key medium for offering proof of the brand message to healthcare professionals, targeted by occupation. We track results for which social platforms work for each occupation that we staff, says Faller. Many of AMNs healthcare provider clients call on the firm to create marketing materials to help them promote their own brand to candidates.But the greatest branding eignung that social media provides is in the conversations that healthcare professionals have about their employers.With social, its what people are saying about you thats most important, says Faller. Does the organization staff its facilities adequately? Is the culture supportive or toxic? Do doctors listen to nurses? All candidates want to know.With so much atstake, we monitor social sites and talk with clients about what we find, good or bad, says Faller. For larger clients, AMN also monitors company review sites. We report negative posts to clients.Since entrants to the healthcare professions nearly all skew young, AMN customizes its approach to a younger point of view. We pay close attention to Millennialsand create short branding videos for clients, Faller says.Clover Health promises to address clinicians pain pointsAs a preferred provider organization, Clover Health must project its employer brand to multiple talent pools, and clinicians are one of the most important audiences to reach.A lot of our clinicians are nurse practitioners and physicians, and they didnt go to school to do paperwork, says Rachel Fish, chief administrative officer at Clover Health. For Fish, streamlined processesfrom charting to care coordinationare a key element of the Clover brand.As part of their brand strategy, Clover emphasizes sending its own clinicians to see patients in their homes to provide high-quality healthcare, thus avoiding preventable hospital admissions and other unnecessary utilization.Our clinicians are not compensated by the number of home visits they make, so they can spend time in patients homes, says Fish. This distinction is important to the doctors, nurses and medical assistants that make these house calls, and to job candidates, adds Fish.Additionally, Clover chats with clinical candidates about the organizations IT structure. Engineers work side-by-side with clinicians to reduce the frustration of complex electronic health records with the goal of making them more user-friendly.Clover takes an analytical approach to its investment in media for employer branding. The organizations marketers have concluded that not all social platforms are created equal, and many are not worth the necessary resources, even if theyre free. We havent found Instagram or Twitter to be very productive, Fish notes.Meanwhile, old-school legacy media, which has fallen out of fashion with employers in some industries, has a logical place in Clovers employer branding and marketing strategy. Nurse practitioners are in the car all the time, so were actually going to be running some billboards and bus shelter ads, says Fish.Providence St. Joseph lends its brand to a pipeline universityIt turns out that a healthcare system can make a big splash with its employer branding, simply by changing its name.With 50 hospitals, 829 clinics, 20,000 doctors and 38,000 nurses in the West and Southwest,Providence St. Joseph Health (PSJH) is one of the largest healthcare systems in the nation. Given the predicted tidal wave of retirements over the next decade, PSJH must hire four times as many nurses per year in 2028 as they do currently.Recruiters and candidates took notice last year when PSJH announced that the 1,000-student University of Great Falls in Montana would be renamed the University of Providence. The name change encompasses the new educational and training programs for a sortiment of healthcare careers and a pipeline to jobs at Providence St. Joseph and other facilities.It was part of our strategic v ision to have a fantastic university as part of our healthcare system and to brand PSJH as a leader in clinical training and education, says Carol Kubeldis, vice president of talent acquisition.The new name points to the advantage of having an integrated health system with its own university. As recruiters talk to nurses about coming to PSJH, they can highlight tuition-subsidized certification programs and a broad range of professional developmentoptions. The university also serves directly as an internal recruitment pipeline for the health system, Kubeldis says.Each of these stories demonstrates theeffectiveness ofa strategically-delivered employer brand message, whether the end goal is to attract and retain top quality talent or to create a better match for clients.The perfect blend of impactful employer branding content, rapidly and accessibly deployed across multi-channel digital and social platforms, helps employers create extraordinary candidate experiences and better recruitm ent outcomes, says Broderick.By developing your own employer brand message, you can communicate your companys unique value proposition to clients and candidates. Soon, youll be standing out from the crowdfor all the right reasons.

Veterinarian CV Example 2018s Top Sample

Veterinarian CV Example 2018s Top SampleVeterinarian CV Example - 2018s Top SampleCreate This CV ObjectiveTo impart my knowledge in Veterinary medicine and provide quality healthcare to animals. My aim is to sustain animal life by administering immunization to guard them against diseases.Personal Information Brian Avelar322 Dogwood LaneTucson, AZ 85712(777)-884-4221b.avelarsampleresume.netDate of Birth May 6, 1979Place of Birth PACitizenship AmericanGender MaleProfile Summary Knowledgeable in toxicology and laboratory animal medicines Great skills in interpreting animal behavior PathologyEducationDoctor of Veterinary Medicine, 2009Polytechnic Institute of New York University, Brooklyn BS in Biology, 2006Polytechnic Institute of New York University, Brooklyn Employment HistoryPharmaceutical Veterinarian, 2007 PresentAstraZeneca Pharmaceuticals LP, Wilmington, DE Responsibilities Administered immunization to animals to protect them from diseases. Studied cause of animal diseases . Reviewed the list of raw materials to be used and mixed in the vaccine. Tested efficacy and effectiveness of vaccines to dying animals. Inspected the meat products given to animals as food. Developed vaccines for animals.City Veterinarian, 2006 2007Private PracticeResponsibilities Prescribed medicines for animals. Provided daily menu for sick animals. Immunized the cattle in MAG-V Farm. Educated the pet owners on proper animal bathing and feeding. Demonstrated to clients the administration of vaccine to their pets.ResearchJourney to Animal LifeTraining/CertificationCertificate in Animal PathologyAwardEnvironment-Friendly ResearchProfessional MembershipAmerican Animal Hospital AssociationAmerican Veterinary Medical AssociationSkillsGreat communication skillsStrong familiarity with animal diseasesAbility to tame uncooperative animals Customize CVVeterinarian Resume Questions1. Whats the best format for a CV PDF, Microsoft Word, or txt?Todays digital world demands that candidates kn ow how to format and upload their CV electronically, either through email or through a job posting website. In many cases, recruiters ask that candidates upload their file in Microsoft Word format. You can also choose to send your document as a PDF if you want to make sure nothing gets edited. Its rare for recruiters to ask for a txt file, but some job postings may require other formats like this one. In the veterinarian CV sample, you can see how a completed document looks on screen.2. What should you include about your accomplishments on your veterinarian CV?Your goal for your CV document is to show recruiters your value. One of the best ways to do this is to show off your accomplishments. In the veterinarian CV sample, the candidate describes achievements such as awards, certifications, and research. Another way to include accomplishments is to point them out in your experience section. Dont feel like you need to list every single job responsibility from your previous employer. F ocus on giving details that give evidence of results in veterinary medicine, such as increases in animal immunization, a high number of successful treatment cases, or evidence of excellent diagnostic ability.3. What should go in the experience section of your veterinarian CV?In the experience section of your CV, detail your work history. This part of your document should employ a chronological organization to make it easy to follow. Hiring managers typically want to see a progression in your career in the field of veterinary science, as shown in the veterinarian CV sample. You can include each positions title, your dates of employment, the personenname of the employer, and a brief bulleted list of your duties and accomplishments during your tenure. Instead of struggling with formatting this section, try using the resume builder tool to make writing this part quick and easy.4. How should you list education on a veterinarian CV?Candidates vying for jobs in veterinary science must demo nstrate a high level of success in their academic career. If you want to be a top veterinarian candidate, you need to have many years of schooling to prepare for the job. Most job postings indicate the level of education needed for the position. List academic credentials on your education section, as shown in the veterinarian CV sample, starting with the highest degree. Include details such as the degree earned, the years of study, and the name of your school.5. How do you list references on a veterinarian CV?On the typical CV, such as the veterinarian CV sample, candidates dont usually include references. If the job posting requests them, you can generate a professional-looking list for your future employer. This list should be on a separate page and include the basic contact information for each person listed as a reference. Most reference pages provide either a phone number or an email address. Be sure that you have checked with each person you plan on using as a reference before putting them on your CV.More CV SamplesVeterinarian CV

Max Out Your HSA Contributions

Max Out Your HSA ContributionsMax Out Your HSA ContributionsFinancial planners know something you may not- when you max out your HSA, some powerful tax advantages follow. Did you know that your health savings account can be a significant part of your retirement nest egg? What Is an HSA? A health savings account- or HSA- is an account specifically for paying healthcare costs. Because of the tax advantages that come with your HSA, contributing to and using the account to pay for qualified medical expenses gives you a significant discount on your healthcare costs. Do I Qualify? Not everybody qualifies for an HSA. The main qualification is that you must be covered by a High Deductible Health Plan (HDHP). As the name implies, HDHPs require you to pay a significant portion of your healthcare costs upfront before insurance kicks in. To qualify for an HSA the plan must require you to pay at least the first $1,350 ($2,700 for family plans) and a maximum of $6,650. ($13,300 for familie s). Warning To qualify for an HSA, you have to pay the above amounts before insurance pays anything. That means youre responsible for the insurance-adjusted costs of doctor visits. If they charge the insurance company $150 for a visit, you have to pay it until you pay your deductible. But remember, you can use your HSA balance to pay those costs. If you can afford to shoulder those portions of your medical care upfront, HDHPs often cost less than other health insurance plans and probably qualify for an HSA. Are You in Good Health? The main purpose of your HSA is for paying for medical care but if you use your entire balance each year, you cant take advantage of the benefits that come from holding a balance long-term. For that reason, dont think of your health savings account as an investment vehicle if you deplete the balance each year. Why Max Out Your HSA? The tax benefits are so good that some financial planners say to max out your HSA before contributing to an IRA. Heres why You get a tax deduction when you contribute funds. As of 2018, you can write off up to $3,450 of your contributions if youre single or $6,900 for family plans.You dont pay any taxes upon withdrawal as long as you use the money to pay qualified medical expenses or qualified health insurance premiums if youre over the age of 65. With an IRA, you get one or the other you get the tax advantages when you contribute or when you withdrawal but not both. With an HSA, you get the tax benefits on both sides. Contribution Limits As of 2018, you can contribute a maximum of $3,450 or $6,900 for families. (The same limits that qualify for a tax deduction.) Like other retirement accounts, unterstellung limits adjust based on inflation rates. Once you reach the maximum, redirect contributions to an IRA, 401(k), or another retirement account. Also, just like other retirement accounts, youre allowed an extra $1,000 in catch up contributions once you reach age 55. Penalty Fees Just like a ll tax-advantaged retirement accounts, if you use the money for something outside of its purpose, the IRS will hit you with some pretty hefty penalties. Your HSA funds must be used for qualified medical expenses. If you use the money for anything else, you pay ordinary income taxes on the withdrawal plus a 20 percentpenalty. Some quick calculations show that you could pay nearly 50 percent or more in taxes and penalties if you dont use the money for its intended purpose. Once you reach age 65, things change slightly. You can use the funds for things other than medical expenses but you will only pay ordinary income tax. If youre in good health or can pay those medical costs out of pocket until you reach your deductible, you can think of it as adding an extra $3,450 or $6,900 to your Roth IRA yearly maximum. Thats a great deal How Its Invested Before using your HSA as an investment vehicle, do some investigating. If your employer offers you the HDHP with a health savings account, first ask about the company who will hold the HSA funds. If its nothing more than a true savings account, you wont get much benefit from maxing it out since the money isnt being invested. Many companies allow you to invest the funds into something more aggressive than a traditional savings account. If your HSA comes with investment options, thats where the HSA becomes a vehicle for wealth building. Dont Forget About It Although youre eligible for an HSA if youre self-employed, most people get the account through their employer. Just like a 401(k), when you leave your current company, that account is yours to take with you. As long as you remain enrolled in an HDHP you can contribute to your HSA. Dont forget about your account and collect all the information about it from your menschenwrdig resources department if youve had little contact with it in the past. Some Simple Math To show you the power of an HSA, consider this For the sake of simple math, lets say that the maximum contribution never went up and you contributed the maximum each year for 20 years and earned a 4 percentrate of return. Well use a very conservative return rate because you will have some years where you have to withdraw some funds for medical expenses. Using these numbers, you would have a balance of more than $113,000 that is completely tax-free if used on qualified medical expenses. As you age your medical expenses will become a larger part of your monthly budget. Having this much money set aside for expenses that could also include long-term care later in life frees up your other retirement funds for things more discretionary. Dont view your health savings account as something to zero out before the end of each year. This is a valuable tool in your retirement savings arsenal.