In this episode, Dan and Katelyn delve into IRS form 5498 highlighting its purpose, when to expect it, and key considerations. They also explore how federal health plans may handle gender-affirming care coverage, and how to navigate that process
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The Fed15 Podcast | Ep. 140: IRS Form 5498 + Navigating Coverage for Gender-Affirming Care
Dan breaks down IRS Form 5498, explaining why IRA owners receive the form, when to expect it, and how key boxes report contributions, rollovers, Roth conversions, account balances, and required minimum distribution indicators. He highlights how the form helps track IRA activity, Roth conversion timelines, and balances used for calculating future RMDs.
Katelyn discusses how federal employees and retirees can navigate health coverage for gender-affirming care. She reviews how to evaluate FEHB plan documents, understand pharmacy and authorization rules, coordinate benefits with Medicare, explore alternative coverage options, and take action if a claim is denied. She also outlines budgeting considerations and logistical planning to help individuals prepare for potential costs and coverage gaps.
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