Health Savings Account-Health Savings Account Info

Mark E asked:


Last year my employees voted to change to HSA accounts from our old PPO health care coverage. Each policy has a $3,000 deductible and I give each of them $3,000 at the beginning of each year. As long as they go to a Blue Cross provider they never have any out of pocket expenses for anything. They are 100% covered once they spend the $3,000 I give them.

This plan saved my employees an average of $2,200 per year and saved the company $27,500 in health care premiums. This is a great plan that my employees want to keep but my insurance broker tells me we will likely need to switch back in the next two years. Who does this benefit?

I THOUGHT IF YOU LIKED YOUR PLAN, YOU COULD KEEP IT!
TMess2,

Both Congressional Proposed Plans outlaw HSAs because the deductibles exceed the maximum deductible allowed for a qualifying plan. The Dems Healthcare package includes minimum qualifying coverages that effectively render HSAs an illegal, non-complying form of coverage. I WOULD NOT CHANGE THE PLAN UNLESS FORCED TO DO SO BY LAWS ADOPTED BY CONGRESS AND SIGNED BY THE PRESIDENT.
Patriot,

Health Savings Accounts remove insurers from the process until extraordinary medical costs are incurred. HSAs allow people to spend their insurance money for items not typically included in health insurance such as dental, eyeglasses and over the counter drugs. HSAs lower premiums to the employer by establishing a connection between the cost of care and the consumer of care by making the consumer write a check (from his prepaid account) each time he decides to seek care, tests or treatments. This doesn’t result in higher overall cost of treatment since the actuaries who calculate the premiums offer a much lower rate for such coverage — enough lower that I can prepay all of my employees HSA accounts and still have money left over. This is how you drop the cost of insurance.

Thaddeus Ulanski

Obama: Why So Socialist asked:


I ask this seriously, every government program that is designed, makes me wonder if it’s passed to say that’s something people are too stupid to handle on their own.

Social-Security – Are people that dumb, they can’t have a savings account. The government must Nanny their money for them?

Section-8 Housing – Are people that dumb, they can’t afford an apartment on a minimum wage job. The government must take tax payer dollars to Nanny others who can’t do basic survival tasks?

Food Stamps – Are people that dumb, they can’t cut back on other expenditures. If you can’t afford to eat, you shouldn’t be able to play x-box live COD4. You should sell it for food. Why must the government Nanny people to make sure they eat when they can cut back on other things?

Health Care Reform – Are people that dumb, they don’t know how to shop for health care plans. They don’t know how to be healthy to prevent medical issues. The top 10 deaths in America are all life style. Heart Attack, Stroke, and Cancer are linked to Obesity. The cancer that kills the most Americans is lung cancer (More then all other cancers combined). Are people that dumb, they need the government to Nanny in their life for their incompetent health choices?

I can go on and on, but really I hope you get the picture. It’s common sense. Don’t post comments here about little minority Scenarios that are so small they’re practically fiction.

Example: OMG YOU’RE SO MEAN, WHAT IF A CHILD WAS BORN WITH AIDS AND A PLANE CRASHED AND KILLED THEIR PARENTS. THEN HE WAS AN ORPHAN WITH AIDS THAT GOT CANCER???

I look at the macro-situations, not the micro-situations. Health Care Reform is stupid since it’s only going to insure 2% of the population. I’d rather them go to medicaid. Then spend 1.2 trillion dollars.

Collette Bagwill

under_fire53 asked:


Finance guru Earl Matthews (founder of aid4families.com) has set his sights on revolutionizing the pension plans of several countries. Like many of his brethren, David Filo and Jerry Yang (founders of Yahoo), Larry Page and Sergey Brin ( founders of google), and Chris Dewolf & Tom Anderson ( founders of Myspace), a generation that grew up under the likes of Steve Jobs and Bill Gates, seem determined to change every aspect of society. It seems odd that while we are talking about the government being involved in universal health care and at the same time private savings accounts and privatizing pensions. The government may get your teeth fixed until you are 90 but the money for food to use those teeth on will be up to you to find. Do you support universal health care and do you support public pension schemes relying on “for profit” fund managers?
http://www.aid4families.com/press%20release.html

Lupe Siniscalchi

foodcubes asked:


It just seems like such a terrible and unnecessary idea to just take peoples’ saved money because they haven’t spent it all within a year. I think it would make so much more sense to let people have something that functions as a normal savings account that can only be spent on medical care, with the tax benefit of an FSA.

I know that something like this exists, but it isn’t available to me, and probably a lot of people.

It just seems so wrong that they take your unspent money. What would it hurt to let you keep it, anyways?

Major Malkin

David asked:


I have a fix.

Instead of requiring people to get health insurance we simply require everyone to pay for a procedure or care before they get it! It’ll be like fast food. That way those of us that do have health care won’t have to foot the bill for those who don’t.

Heart attack? Better have a decent sized savings account. Tumor? Time to sell off that google stock whitey. It the ultimate way to make sure rich people stay healthy and poor people die which is what this is really all about isn’t it?

Arnold Major

Liberal Madness asked:


should this bill be renamed the “forced contract with big insurance” since it forces by law that everyone give their money to a privately owned insurance company.

Or perhaps it should rightly be labeled the “democrat health-care tax increase to lower our deficits” bill since all that’s left are the increases on our insurance premiums, health savings accounts and products labeled under the FDA as medical devices?

Gabriella Forsythe

Kailyn asked:


Can any of you recommend a pet insurance company? Also, I would like your opinion on whether they are worth the money. I’ve never used one in the past because I have a special savings account that I put money into weekly that is strictly for regular vet visits as well as any health issues that may arise. This has worked well for our boxer but we recently rescued an APBT and now that we have two dogs to care for I want to make sure that I always have the funds available should anything happen.

Brandon Hadsell

ModernLove asked:


My father pays child support every month. He encountered some health issues this past year and got behind. He is fully caught up in the child support. In the time he couldn’t pay my mother took money out of her savings account to help pay for things. Now, she wants to take the money and put it all back into her savings account. (even though he gave more than she took out)

I can’t help but feel she’s being greedy. The money is meant for me, to support me in the things I need (clothes, food, school dues) and yet she’s storing it for herself.

Is this right? I don’t want to give her the money (my father gives it to me to give to her when he drops me off) and I just feel sick giving it to her. Her attitude is that it’s for my “up-keep” (the way she says that makes me feel like a dog) and that it’s actually for her to use as she sees fit. I’m going to college in 2 years and I don’t feel like the money will really go to me if it’s sitting in her savings account.

Opinions please, I don’t feel right about this at all…
17.

I realize that I’ll give her the money anyway – but I still don’t feel like she’s using it appropriately.
Yes I am going to college and have been accepted on a full academic scholarship to a major private university. Everything is paid for.

I feel like she’s hoarding the money. She usually puts it in her checking account, but this time it’s all going towards her savings. Replacing the money – I’m fine with. But there’s atleast $1000 extra that will also be sitting in there when it should be in her checking account.

Refugio Bonaparte

lee asked:


I have a financial evaluation appointment at the hospital to see how much I can pay for my hospital bill (I got injured with no health insurance), the hospital bill came out to $5,000. I make $1000 p/month almost minimum wage in Florida, and I have a lot of expenses. I want to set up a payment schedule with the hospital where I can pay about $20 p/month. I have a bank account with some savings (roughly $5,000), will I be forced to pay the hospital bill in one lump sum with the money from my bank account or will they let me set up a payment schedule? Do I have to tell them that I even have some savings in a bank account?

P.S. When you set up a payment schedule, do they charge interest on that?

Any advice would be appreciated.

Eusebia Rasul

GivenUp asked:


BY WITHHOLDING MONEY?

A few years ago i wanted to have my own account as we had a joint account but we had arguments over spending or if i didnt have a receipt for him to balance accounts. Plus i needed his authority to change anything i.e. to a better utility provider for example.
So at that time we had about £12k in a savings account which subsequenty he has withdrawn and put into his own name which i questioned him about but got nowhere as he said it was his money cause he earns it. (regardless that i have worked pt for 12 years since kids got older.)
Anyway, he decided on what bills i pay and he gives me £200 pm. however that all changed 2 years ago when i got made redundant but became selfemployed. to add to this my health got worse and i had two ops in that time.
The latest major op was 10 weeks ago and i did not work for 6 weeks.
Thing is he just def wont give me any money to pay for bills etc for that time of not working. i feel let down and just expected him to be there for me. had 10 years of ill health and had my colon removed.
He takes home nearly £2k pm. i was on IC for a year but that stopped last December. i diddnt earn much due to being ill and in pain..
He just doesnt see my point of view.
Is this abusive behaviour? If so how can i get him to talk as he wont
I never spent like crazy.
I am not allowed anymore money from social either.
Had my own account since 2004. but he took my name off our joint account. I dont even get to see his bank statements as he locks them away.
He does show love to me i.e. is very tactile and thinks nothing of spending money on me. i said i need the money instead as i am £1k overdraw, but to no avail.
I am withholding *** as a means to feel some sort of self respect even though i know 2 wrongs dont make a right. i have no desire for him right now anyway. this has come to a head since a week ago.
He has stood by me for 10 years of ill health. apparently most men would have left (according to my mother-in-law). So what does that mean – i should be grateful?????
Thanks for advice.
Yes! Three accounts – sounds so obvious doesnt it.
I doubt he will go there, but i will try to talk to him about it – i feel so helpless though aah
I cant cope feeling stressed – i have other stress in my life too with my parents not being in good health aah:(

Molly Albriton