Health Savings Account-Health Savings Account Info

Sophia is rolling over! asked:


My husband has a Flat Rate Job as an ASE GM Mechanic.
He usually brings home between 3000-3500 a month.
In December and January it’s only 2500 but in the summer months However May-August he brings home around 5K a month.
So really his incomes goes up and down.
But his W2 said that in 2008, he made 48K.

Do you think that this is enough for a family of three to live on here in Southeast Michigan.
We have a home, Great health insurance and lots of love…
Were saving my 1K a month salary, and putting it into a savings account till our Baby is born.
Hopefully we will have about 6-7K saved up.

Andres Scherich

Bethy asked:


H. Res. 615 – Urged anyone who voted for Health care reform to take the insurance plans offered

Defeated

H.R. 3200 – Any public plan would require that Congress enroll in it

Defeated in committee

Both were defeated only by democrat votes.

So 2 attempts by the Republicans over the last year to get Congress to take our health care under their reform and they refuse

No they decided to keep :

“Federal employees, retirees and their survivors enjoy the widest selection of health plans in the country. You can choose from among Consumer-Driven and High Deductible plans that offer catastrophic risk protection with higher deductibles, health savings/reimbursable accounts and lower premiums, or Fee-for-Service (FFS) plans, and their Preferred Provider Organizations (PPO), or Health Maintenance Organizations (HMO) if you live (or sometimes if you work) within the area serviced by the plan.”

Congress gets to choose from all that but they wont choose by Democrat vote the health care they want to give you

Isnt that interesting?

Why is this?

Chris Caley

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

Karena Quasdorf

Layla asked:


Please bear with me…this is a long ugly story but I would appreciate as much advice as possible. I am a sophomore in college. Last year I went to a different college, a private school far from home it was a lot more expensive than the large university I attend now in my own state.
My father passed away suddenly when I was at my second week freshman yr of college. He had a life insurance plan of $100,000. My mom and him were divorced since I was one years old. My mom’s been remarried since I was three. I was my father’s only child. My dad also had 30,000 in his bank account which I had transferred to my own. I was really not myself when all this was going on–I was a mess about my dad dying a complete MESS. My mom badgered me into investing money in the stock market…I had almost all the 100,000 in the stock market. I thought I had 40,000 of it in a savings account but it turned out to be a mutual fund and I lost that too with the economy crash. The financial guy is this guy who worked with my mom. He is a very fair guy but made a lot of mistakes with my money. I also found out my mom was stealing thousands of dollars from my separate bank account. Please don’t lecture me for not knowing about this…I was stupid but I’ve down up a lot since then. I had a lot of health issues after my dad’s death including horrible stomach pains from stress ulcers over all of this. She was able to steal the money because before my dad died we had her linked to the account “chase college account” so she would be able to give me money when I was at school and needed it. When I found this out–I added it all up with my boyfriend. She would occasionally put the money back but she still owes me over 5000 dollars and she has no way to pay it back now. My mom treats me like crap all the time. She is verbally abusive and I have come to realize that I don’t know why I talk to her. I have no money to pay for college…so I tried talking to her about quitting the track team to get a job waitressing because I need money to pay rent for my apartment at school, food, the electric bill. She does not realize how if I don’t get some money soon I will be in serious trouble. There is still a hope that my stocks will go back up but I lost over 68,000 dollars. I cannot touch the stocks now because it’s not worth it to take it out and get a loss of so much money.
I am wondering what I should do about my mom. She never listens to me and she treats me horribly. She claims she wants what is best for me but I cannot stand her. She is always screaming at me about everything.
What should I do? I feel like I should do what I want, I am twenty years old .it’s my life. I need to get a job so should I just quit the team and get a job? My fear is having no money to pay for my apartment and being forced to move back home. I **** it at home and I wanted my whole life to turn 18 go to college and never have to live with my mom again.
My mom has some issues. This is not just a normal mother daughter not getting along situation. Piled on top of what she did with my money? I’m just not sure what I should do. I’d appreciate any and all thoughts on this.
Also–My dad was one of five and I feel like I should tell my aunts what my mom did and how i lost all my money. They don’t know and my mom guilt trips me into not telling anyone about it. My boyfriend says i’m a victim and I need to get out but what do you think? I should tell my aunts right ? My mom emails my aunts when she thinks i’m being a b****. I feel like they should know why I have a right to be upset and a little frustrated. My stepdad is no help. He and my mom don’t even talk anymore though they live in the same house with my two half siblings. They want a divorce but they can’t afford one.
I just want to be on my own and I feel like I have been a long time coming. I cannot stand my mother anymore and I feel like I shouldn’t have to deal with her issues anymore.

Larry Scoleri

Matt D asked:


I have a Health Savings Account through work that I added my wife too. Does this mean I have to file jointly with her, or will we still be able to file separately if the figures come out better that way?

Kareem Mosqueda

What’s the point? asked:


I have the best Congressman, John Campbell. He wrote an article today on just some of the taxes included in the bill (I’ll provide a link so you know I’m not making this up). It includes:

• A new 3.6% tax on all investment income including capital gains. That means that the capital gains tax rate (including California state tax) will rise to 33.9%. The tax on dividend income will rise from 15% today to 53.7% including California tax.

• Additional Medicare tax on self employment income and wages. This removes the current cap on wages subject to this tax and it will effectively move the top income tax rate from 35% to 43.4% within a couple of years. Add in the California tax again and would then be close to a 54% marginal tax rate. I believe that this is the highest of any major industrialized country. But because spending is so high we would still have $1 trillion dollar annual deficits even after this tax.

• There is a 2.9% tax on all medical “devices”, which basically means everything used in a doctor’s office or hospital. Including gowns, syringes, and the like. This will increase health care costs for everyone who does not get free government insurance.

• The deduction for Medical expenses is currently limited to those expenses that exceed 7.5% or your income. This will be raised to a threshold of 10% of your income. This means that fewer people will get any tax relief from medical expenses they pay for themselves.

• There are various taxes on anything a person might do to pay for their own medical expenses. Things like Health Savings Accounts, Cafeteria Plans, and Flexible Savings Accounts are ways for people to save their OWN money for their OWN medical care on a pre-tax basis will be limited and taxed. This is all part of the way that President Obama gets to government run health care by making it illegal or costly to pay for your own care so you have to go to the government.

• A 10% tax on tanning services. I call this the “Jersey Shore tax”. This one has to be really upsetting to ‘The Situation’, Snookie, and Pauly D.

• A tax on self-insured health plans. This is another penalty on those who try to pay for their own health care.

• A new tax on pharmaceutical manufacturers. This will raise the price of drugs for everyone who does not get them from the government for free.

• A new tax on “Cadillac” health plans. This is an up to 55% tax on any health insurance that costs over about $800 per month including employee and employer contributions. This tax does not apply if you are a union member or your plan is from AARP or Blue Cross Blue Shield of Michigan. These are major Democratic constituencies and they exempted them. For everyone else, this discourages comprehensive health coverage. Isn’t that what the President says he is trying to achieve? Like most of what the President says, his actions are not even close to his words.

• There is a new tax on all ‘for-profit’ health insurance companies (except for a few favored ones). This will also raise the costs of premiums for everyone not getting free care from the government.

• If you don’t buy health insurance (as dictated acceptable by a new federal czar), you will be fined up to 2.5% of your income even if you pay all of your medical expenses yourself. If your company does not provide said health insurance to all employees, the company will be fined up to $2,000 per employee.

http://campbell.house.gov/index.php?option=com_content&view=article&id=2789:march-19-2010-healthcare-tax-increases&catid=38:laptop-report&Itemid=73

61% of Americans (including both Democrats and Republicans) are against the bill, those for it the majority have no idea about the taxes included in it. The 2300 page bill was finally released to Republicans TODAY and will be voted on in less than 48 hours.

Murray Damrell

Chicago asked:


Okay, here’s the run-down…(Sigh) I have a two year old daughter. Beautiful little girl, that lives in the states. I currently live in Germany, I’m enlisted in the Air Force. Okay, so…there was drama, and then I got an assignment to come to Germany. I signed my rights away because she didn’t want me in their lives and I had to cover my *** so she doesn’t come to me two years later talkn bout I owe her back child support. I asked for a paternity test, and she refused. That’s the reason why I signed the notarized document. Now, legally…(She doesn’t know this) I can’t sign away rights that I don’t have. Meaning, I’m not on the birth certificate, so that document is void. Now, recently I asked her to put me on the birth certificate, since she called and asked me for money. I happily accepted and started paying her $300 monthly from my own will. No courts, no lawyers…nothing. Now she refused to put me on the certificate because she says she raised the baby for two years on her own, and I have no rights? I said, I’m paying you child support, plus I visited my daughter and established that introduction about 6 months ago. Now, maybe I’m asking for too much too soon…but as a military member, I’d get more benefits if she did put me on the certificate. Like, extra money…which I’d send half to her($50). And free health insurance for my daughter. Now, this girl works at a hardware store making chump change. And I’m just trying to make her life and my daughters life easier. She says I wouldn’t be able to come and just pick my daughter up for a weekend cuz she wouldn’t feel comfortable. My question is…should I stop the payments and take her *** to court and put the money in a savings account until a decision is made….or should I just go along with it, and just understand her feelings and emotions and all that ****?

Grover Spanski

Matt asked:


I have a high deductible health plan. The deductible is $2000. The company I work for reimburses me for the first $1000. I have an Health Savings Account (HSA) to cover the leftover $1000 of the deductible.

Can I use my HSA to pay for the complete deductible ($2000)? Or is that illegal?

Mercedes Belliveau

sean94110 asked:


I opened a health savings account two weeks ago. Can I use it to reimburse myself for qualified medical expenses from 2009?

Samuel Wessinger

Andrea asked:


He says he thought I wouldn’t care, however, it will cost us about $1000 he said AND,
1) I am newly pregnant with our second child and will be 7 1/2 mths when he goes,
2) We just recently closed our savings account bc we needed the money to pay bills (newly living paycheck to paycheck)
3) We don’t have health insurance to cover the cost of the baby so I am going to a birthing center to minimize the cost. (Assuming no complications, which could mean astronomical cost)
4) He has only been at his job for a short time so there is no guarantee in this economy.
5) We already have 20k in credit card debt.
6) We were hoping to buy a home in the next year but have no money for a down pmt.

He is a wonderful man but now I feel so hurt that he has put me in this position…I feel betrayed and am in disbelief that he would think I would be okay with this. I really think it is all-around inappropriate at this point in our lives.

I have told him how upset I am about all of it, but he just seems to think we should be able to come up with the money by then. Yes, we should have some tax money coming in, but I don’t see that in our financial situation we should be using the money for that.

He obviously really wants to go, because he is not letting up in trying to figure out ways to make me okay with it, I just don’t think I will ever be.

I feel like my only options here are to either **** it up OR tell him not to go but then he will resent me. Any thoughts?
The bachelor party is for his best friend…we never had a wedding.

Randa Youngblood