Health Savings Account-Health Savings Account Info

banjo asked:


Existing Law:
Two rainy day accounts for the Education Trust Fund, used to prevent proration, or across-the-board budget cuts: the Proration Prevention Account, which works like a savings account, and the Rainy Day Account, which acts like a credit line. The Proration Prevention Account is funded with tax revenues; the Rainy Day Account gives the state the power to borrow money from the $3.2 billion Trust Fund, funded by the sales of drilling rights and oil and gas leases. The state emptied the $440 million Proration Prevention Account to cover revenue shortfalls in the fiscal 2008 budget. The state can currently borrow up to $248 million from the Trust Fund to cover Education Trust Fund shortfalls. The money must be repaid within five years.

Amendment:
Increase the borrowing limit from $248 million to $437 million
Lengthen repayment to six years for the Education Trust Fund, ten years for the General Fund, both under constitutional mandate
Allow the General Fund to draw up to the equivalent of 10 percent of the previous year’s General Fund budget to meet proration
Establish a General Fund Rainy Day Account to protect General Fund services, such as law enforcement, health care, child protective services, and services for seniors from cuts in a struggling economy, without raising taxes.
Give the governor ultimate authority to withdraw money from the Trust Fund to avoid proration.

Arguments in Favor:
The measure will prevent cuts to educational programs and public education in general
The measure will prevent cuts to state services which would likely lead to less State Troopers

Arguments in Opposition
The measure would encourage irresponsible budgets
The measure would draw down the money in the Trust Fund
The measure would reduce interest payments from that fund to governments across the state
The measure would break the commitment to protect public money

Thanks for answering, wish Y/A would let me give you all points!

Booker Fulfer

Tartsnfartz asked:


Okay, I brush, twice a day.
BUT I chew nicorette gum, which has sugar in it :–(
So therefore probably this + not flossing enough has caused these 8 {?!?!?!} cavities to accumulate unfortunately.\unfortunately for me I don’t have dental ins. LOL! SOooooooooo I may as well just hand over all my savings account/chk.’ing acc. right over to my dentist,ha!

SO DID YOU EVER HAVE A MOUTH FULL OF CAVITIES, CHANGE PRODUCTS/HABITS AND HOW LONG HAS IT BEEN [IF ALL THIS "WORKED"] HOW LONG HAVE U BEEN CAVITY FREE??

Lauren Wallace

Smarternyou asked:


When the mafia comes around and asks a person to pay for “protection” what happens is that you are handing over cash and getting nothing in return because you are actually paying for protection from the mafia guy…

Is it about the same way with the Private Insurance Industry?

You hand over around $1500.00 cash every month yet your never quite sure if you will get a return on your money since the main goal of the private insurance companies is to make profit, and sick people are very costly. So there is a very high chance that even after paying in tens of thousands of dollars in premiums the insurance company will find some way to deny a claim or if it looks like your illness with cost them more than you have paid in, they will just cancel the policy.

So…just like with the mafia, is it one of those things where your damned if you do and damned if you don’t?

If there is no guarantee that the insurance company will cover your costs if you get something like Cancer…isn’t it just like throwing money away…money you would be better off just putting in your savings account and ensuring you have something to pay for the chemo?
Vadim : “also why do you trust a government insurance would not do the same.”

Because the Government plan would be NON-PROFIT and I think it is our Governments/Countries best interest to have a healthy population that can continue working and PAYING TAXES for as long as possible. Sick or dead people don’t pay a lot in taxes you know…

Romona Marinella

Riki asked:


My fiance and I made plans for June 2009 wedding, and have starting saving for it. We have about 1/2 of what we’ll need in a separate savings account. I was getting really exited planning everything, and then sh*# hit the fan at work. I think I’m going to get fired very soon, and the way current economy is, I doubt I’ll find a comparable job any time soon. I’m really scared about my finances (I transferred everything from my savings to the wedding account) and really, really stressed out. I can’t afford to be unemployed for long and I don’t event want to think about what will happen if I lose my health insurance. Planning an expensive wedding sounds ridiculous if I end up broke in a month or two. On the other hand, I don’t want my fiance to think he has to get eloped and start taking care of unemployed woman who is not even so much fun to be around with right now (yes, I’m super stressed and cry all the time). I know he would marry me tomorrow if I asked him to… Help! I think I’m losing my mind!

Beverly Chiang

Do your thing asked:


The U.S. Senate recently released its long-awaited proposal for a government-run hostile takeover of the entire U.S. health care system. Predictably, it includes a barrage of higher taxes to pay for the bill’s immense price tag. [...]

All these increases, combined with state and local income taxes, would raise the average top marginal rate in the U.S. to over 52 percent. This would be higher than traditionally high-tax countries such as Italy, Spain, and even France. [...]

Below is a list of the tax increases Congress and the Administration have proposed to finance health care reform. This list includes taxes in the bill passed by the House of Representatives, the bill the Senate is currently debating, and other taxes mentioned as a possible way to pay for health care reform.

•An income surtax on taxpayers earning more than $500,000 a year,[1]
•An excise tax on high-cost “Cadillac” health insurance plans that cost more than $8,500 a year for individuals or $21,000 for families,[2]
•An excise tax on medical devices such as wheelchairs, ****** pumps, and syringes used by diabetics for insulin injections,[3]
•A cap on the exclusion of employer-provided health insurance without offsetting tax cuts,[4]
•A limit on itemized deductions for taxpayers with a top income tax rate greater than 28 percent,[5]
•A windfall profits tax on health insurance companies,[6]
•A value-added tax, which would tax the value added to a product at each stage of production,[7]
•An increase in the Medicare portion of the payroll tax to 3.4 percent for incomes great than $200,000 a year ($250,000 for married filers),[8]
•An excise tax on sugar-sweetened beverages including non-diet soda and sports drinks,[9]
•Higher taxes on alcoholic beverages including beer, wine, and spirits,[10]
•A tax on individuals without acceptable health care coverage of up to 2.5 percent of their adjusted gross income,[11]
•A limit on contributions to health savings accounts,[12]
•An 8 percent tax on all wages paid by employers that do not provide their employees health insurance that satisfies the requirements defined by the Secretary of Health and Human Services,[13]
•A limit on contributions to flexible spending arrangements,[14]
•Elimination of the deduction for expenses associated with Medicare Part D subsidies,[15]
•An increase in taxes on international businesses,[16]
•Elimination of the tax credits paper companies take for biofuels they create in their production process–the so-called “Black Liquor credit,”[17]
•Fees on insured and self-insured health plans,[18]
•A limit or repeal of the itemized deduction for medical expenses,[19]
•A limit on the Qualified Medical Expense definition,[20]
•An increase in the payroll taxes on students,[21]
•An extension of the Medicare payroll tax to all state and local government employees,[22]
•An increase in taxes on hospitals,[23]
•An increase in the estate tax,[24]
•Increased efforts to close the mythical “tax gap,”[25]
•A 5 percent tax on cosmetic surgery and similar procedures such as Botox treatments, tummy tucks, and face lifts,[26]
•A tax on drug companies,[27]
•An increase in the corporate tax on providers of health insurance,[28] and
•A $500,000 deduction limitation for the compensation paid by health insurance companies to their officers, employees, and directors.[29]

Marc

jimbad05 asked:


Why do liberals oppose such sensible Republican health care reforms such as medical malpractice reform, interstate portability of health plans and tax-free health savings accounts?

Is it because the Democrats don’t want to anger their trial lawyer buddies, and love taxes so much that they will never agree to allow anything to be tax-free?

Osvaldo Klimaszewski

mark asked:


1) (it is unbelievable that this still exists). Why is it legal for doctors, hospitals, clinics to charge different prices for people that have different insurance or are uninsured? People paying out of pocket pay “Book Price” for services whereas some health insurers (and Medicare) pay a much lower price (because of negotiations for in-network services).

2) Why is virtually all health care costs pre-tax for some people and post-tax for others. If you have an employer health plan, your health care premiums are pre-tax. Your employer paid portion of the premium is a non-taxed gift. You also can contribute to a health care savings account to cover all out-of-pocket costs tax-free as well.
If you purchase private insurance because your employer does not offer insurance, 100% of your premiums are post tax. You do not have an option of health savings accounts nor do you get employer paid premiums. Also, you cannot even deduct any health care costs on your federal return until you exceed 7 1/2% of your adjusted gross income.
Red Legion

You are flat out WRONG on the the price differential. An uninsured person may pay 10k for an operation whereas a person with Horizon Blue Cross or Medicare may pay 5k for that same operation. This exists

Secondly, it is not the self employed that I am talking about. It is the people employed at a company that does not offer insurance (This is the lions share of the people). And this is a gigantic problem.

Lastly, the public option is CRITICAL. Health insurers are as important today as a blacksmith is. They offer virtually no service other than taking our money to pay their stock holders.
Red Legion

You are flat out WRONG on the the price differential. An uninsured person may pay 10k for an operation whereas a person with Horizon Blue Cross or Medicare may pay 5k for that same operation. This exists

Secondly, it is not the self employed that I am talking about. It is the people employed at a company that does not offer insurance (This is the lions share of the people). And this is a gigantic problem.

Lastly, the public option is CRITICAL. Health insurers are as important today as a blacksmith is. They offer virtually no service other than taking our money to pay their stock holders.

Lawerence Ridolfi

Anon Y. Mous asked:


I am 23, turning 24 this year. I am a PhD graduate student and will be for another 3-4 years. I am paid a stipend of $24k/yr and my tuition and health insurance is covered as long as I’m in school. My FICO is 760. I have $16k in student loans from undergrad that are currently deferred until I’m finished with school. I have no credit card or consumer debt, never had. I have $4k in retirement funds and $2k in an emergency fund. My savings account should be up to $6k by December, unless something goes wrong. All this I have saved from my measely income for 2 years. I also own my car outright, paid for in cash. (In that timeframe I’ve also covered moving expenses and an apartment full of new furniture + electronics.) So I would say I’m pretty good with money for my age.

My current rent is $675, nothing included. I’m wondering if it is smarter to buy. I will stay in the area for another 3 years, perhaps more if I decide to stay and work here after graduation. I have a good FICO score so I think I would get a reasonable rate (5.0%?). My credit report shows 5 years of history, all my accounts are in good standing, nothing negative. My available credit limit is approx. $10k and I never carry balances. In my area, I can get a 1bd/1ba condo for $100k, HOA fees approx $150/mo. If I apply for a 30yr mortgage, according to the calculators my monthly payment can range $530-730. I will only have the $6k from savings to put down though. But with Obama’s $8k incentive…. do you think I should even be thinking about buying? I would just really like to have a “home” and not have to apartment-hop after every lease due to management, move furniture, not allowed pets or this or that anymore.

Would they even look at me if I walked into a bank to ask about my loan eligibility?

TIA. Advice from loan officers or those experienced in mortgages are greatly appreciated!
I want to add that I would do the FHA.

Michael

. asked:


Here are just a few ways that would insure allot more people.

-Provide a tax credit for 100% of health care costs
-Allow seniors to use Health Savings Account funds to pay for Medigap policy
-Make all Medicare expenses tax deductible
-Allow citizens to purchase health insurance across state lines (This would bring costs down allot, but who cares about that…)
Ash, are you aware that a great deal of the uninsured are actually qualify for Medicade/medicare or a state-wide insurance plan, but simply choose to pay for their care doctor by doctor? and allot of those statistics include illegal immigrants who will not benefit from the dems plan anyway, so why include them in the 48 million? When you really break it down there are only about 3 million that want health insurance, but cannot afford it AND don’t qualify for an existing government plan; why change the whole system for those people? Lets just make it more affordable by increasing competition through interstate commerce and tax credits.
Conservatives never had a chance, the Bush republicans did and they were far from conservative, they passed bank bailouts, the patriot act, farm subsides, ect. that is not conservatism or capitalism

Numbers Koutras

John K asked:


According to the bill, here’s what will happen:

1. Tax part of employer contributions to health insurance. No more tax free health insurance premiums.
2. Impose Medicare tax on state and local government employees. Except for congress of course.
3. Tax sugary and alcoholic drinks. Ante up beer and soda drinkers.
4. Change or eliminate Flexible Spending Arrangements. No more “cafeteria” plans.
5. Modify Health Savings Accounts. Yet another tax hike.

So let me get this straight. Obama said he wouldn’t raise taxes on the middle class…. hmmmm…. well, I guess Joe Wilson was right. Bend over boys and girls. If this POS passes the Senate, you WILL pay ALOT more taxes.

Lorenzo Fey