| Volume 132 Number 9 |
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The People’s Lawyer’s Tip of the Day
A “lifetime warranty” is usually for the lifetime of the company. Carefully check out any company offering a lifetime warranty before you purchase. Click here for more.
J.C. Penney to Close 140 Stores; 6,000 Workers Affected
J.C. Penney announced Friday it would shutter as many as 140 stores over the next few months, amid sagging sales and fierce competition from online retailers.
The full list of impacted stores will be available in March. Around 6,000 employees will be offered voluntary early retirement.
Click here for more.
Your Money
Health Savings Accounts: Don’t Leave Money on the Table. Eligible filers can make a tax-deductible contribution to a health savings account, or H.S.A., for the 2016 tax year up until the federal filing deadline — April 18 this year. There are no income restrictions, and the deduction is taken “above the line” on your Form 1040 tax return, reducing your adjusted gross income. Only certain health plans with high deductibles and other specific criteria qualify to work with an H.S.A., however, so you will need to check your plan’s details before opening an account. Here is how a health savings account works: If you have an eligible, high-deductible health plan, you can establish an H.S.A. and set aside funds, tax-free, to pay for medical expenses that your insurance doesn’t cover, including co-payments and your deductible — the amount you have to pay out of pocket before insurance begins paying. You can have funds withdrawn pretax from your paycheck, or you can make contributions directly and deduct them on your tax return. Click here for more.
For the Lawyers
Automobile PIP insurance does not cover transportation costs. The Oregon Supreme Court considered whether the PIP medical benefits included the insured plaintiff’s transportation costs to receive medical care. The court held that PIP benefits for the “expenses of medical * * * services” do not include an insured’s transportation costs for traveling to receive medical care. Dowell v. Oregon Mutual Ins. Co. (Oregon 2017). Click here for more.