Health Savings Account-Health Savings Account Info

Lhasa1951 asked:


Using my HSA debit card I purchased a bottle of vitamins last night. Is this allowed or will they come back and tax me?

Kerry

dumbbbutttholeee asked:


What is one to do for health insurance out there by yourself?

Rodney Sypolt

Richard C asked:


I have a Health Savings Account with Bank of America, however it’s offered through General Motors. My first question is,are all Health Savings Account alike? Does it make any difference whom I have the H/S/A through or not? Do I have to keep the one GM offers, or is there a reason I should stay with the current H/S/A

Rigoberto Hedegore

MTIG asked:


Policy is set up by an employee and they would like the company to pay the premium directly to the insurance company.
Saving the company and the individual tax dollars.
If allowable, which Insurance companies are allowing the direct company pay?
Dr Deth, I don’t think my question was clear to you…Premiums (cost of the plan, just like a companies major medical plan) …
Employer saves by expensing employee healthcare premium (100% deduction), if they pay stipend its a wage. Company employee tax is what.. 7.2% (?)

Employee pays FICA and income tax on a stipend.

Group HSA would be an option, the question is for the employee that changes companies often, or has a better plan.
Company would have to offer the same amount to each individual (menu type options).

Company tax savings would be the premium deduction.
Employee savings would be the amount they deposit in the account.
No double dipping.
Guess there is also the fear a company won’t pay their major medical premium (agent 21 years)

Several small companies are debating this, looking for some savings and benefit for employee and company.
Are we on the right track?

Anyone?

Alan

elinq asked:


I am starting a new job where I will have a $2200 deductible plan, but the company that I will be working for will be putting $2200 in the health savings account. Does this money in the account go towards dentist visit, perscriptions, etc? Once the $2200 is exhausted, then the normal health insurance kicks in, correct? I know it doesn’t cover dental, but with all of this money in the account, is it worth getting additional dental insurance? Thanks for any help.

Johnson Sharpless