Health Savings Account-Health Savings Account Info

AnonymousNickname asked:


Is Proactiv eligible for HSA? It looks like the health savings account can be used for acne treatments (OTC), but I’m not sure if this would qualify. I’m thinking about getting off Proactiv since it’s so expensive.

Kirsten Fennessey

SuchAStunner asked:


I’m 14. No rush to get emancipated not yet. I’m living with my grandparents right now. Well “visiting” but I stay here doing the summers. My mom+my step don’t get along. I don’t’ wanna call CPS on my mom or step dad. Although I should because a lot of physical, mental, and emotional pain has been put on me.

So I was wondering. If I got a job now. And saved money like crazy. Both legally and “illegally”((charging for parties is illegal right? Like charging people to get into a club, You see now.)) And just putting all that into a savings account until I turn 15 or so. Then getting emancipated and moving down to New Mexico where the minimum wage is 9.22 and the driving age is low ((like 15 or 16)).

I could show that I’m financially stable, and I can support myself financially. I can pay all my bills. And that I can get my own health, dental, vision, dog (sorry tempting), and car insurance.

I would have a good case of getting emancipated right. I would have witnesses to the physical abuse. And how it would be in my best interest to leave and be able to live a healthy teen-aged life.

Please don’t give me smart alack answers. We’re all capable of being smart, Intelligent people here so act like it. If you had a crisis on your hands and you posted on here I wouldn’t say well kill yourself.

And another thing. Going before the judge would it be a good thing to say she stopped my psychological help? Because I still didn’t get all the help I needed. She was the reason I went and she’s the reason I don’t go anymore.

Melodee Kapitula

Tyler M asked:


Info: Im a 22 yr old coming out of college married moving into a 2000sq ft home in Oklahoma with a salary of 60k and this is what i came up for a budget. So i was wondering if anyone could look at it and see where there will be problems and if they can think of anything else that might come up????

Income Break-Down on a Monthly Basis:

-$3,500 Income (5,000: adjusted by tax, health care, etc)

Living Expenses ($1233):
-$600 food and gasoline
-$400 House bills ($30water, $18trash, $150electricity, $50gas, $64Cable TV/Cable Internet, $50 WOW + Sirius + Netflix)
-$100 cell phones (both) [Alltel]
-$100 Fun Money ($25 / 1 night a week out)

Debt Pay-off ($1767):
-$300 school / month toward Tyler Student loan $25,000.00 in loans (Starts Feb 09)
-$167 Car Payment (4yr) $7,000.00 @ 7%
-$1150 Mortgage (Mortgage Insurance, taxes, Home Insurance, loan) — $131,000 loaned 30yr fix 6.87%
-$150 Car Insurance (97 F150 + Saturn VUE)

General Savings (15%):
-$515.00 in Savings Account

Thanks!!

Valda Laurie

Mama Cats asked:


This type of program is commonly refered to as consumer driven health care (CDHC).

Because the HSA is a savings account NOT an insurance program, this combination may be more palatable to people who feel the new law is taking their… money and putting too much control into the hands of the insurance companies and government.

Also, because it IS a savings account there is more incentive to spend the funds wisely.

I’m not sure how many people are familar with such programs. I’d like to see the use of these plans expanded.
Note: The question is “Is a HDHP (High Deductible Health Plan)/HSA (health savings account) combination acceptable under the new law?” I already know the HDHP is an insurance policy and is required to have a HSA.

Broderick Lopeman

nada asked:


1. If you have earned income, which of the following retirement devices must you contribute to, by law?
A. Pension plan
B. IRA
C. Social security (FICA)
D. Vesting plan

2. Car insurance that pays for your injuries when you’re in an accident in your car is _______.
A. comprehensive
B. liability
C. medical
D. collision
4. Which of the following devices imparts ownership in a corporation?
A. Stock
B. Bond
C. Savings account
D. U.S. Treasury Bill
7. Which of the following is intended primarily to enhance a person’s tax advantage and retirement income?
A. U.S. Savings Bond
B. Growth fund
C. Money market fund
D. IRA
9. What is the first step that a smart new-car buyer should take before talking to salespersons and putting a deposit on a car?
A. Shop around for a car loan.
B. Obtain car insurance.
C. Study the car market.
D. Test-drive the car.
11. The Emerson First National Bank is lending you money to buy a new car. The loan agreement will probably state that you must carry _______ insurance.
A. liability
B. collision
C. no-fault
D. medical

13. The major difference between a calculator and a computer, when performing calculations, is that a
A. calculator is faster but needs more human assistance.
B. calculator is slower and needs more human assistance.
C. computer is faster but needs more human assistance.
D. computer is slower but needs less human assistance.

14. Your _______ should furnish enough money to live on, in an emergency, for six months.
A. investments
B. savings
C. interest
D. IRA

15. Which of the following best describes term life insurance?
A. The insured is covered during his or her entire lifetime.
B. The insured pays the premium until his or her death.
C. The insured pays a premium for a specified number of years.
D. The insured can borrow or collect the cash value of the policy.
17. In a health insurance policy, a statement that an applicant won’t be covered for a certain pre-existing condition is called a/an
A. exclusion.
B. supplement.
C. waiting period.
D. major medical coverage.
20. A _______ is invested by managers in a diversity of stocks, bonds, and other securities.
A. series EE bond
B. promissory note
C. preferred stock
D. mutual fund

Gil Carideo

Jones asked:


Once I find a place to live, I’m moving out of my mother’s house. Problem is, besides packing all my things from here and moving them over “there”, I haven’t the slightest idea how to handle things.
I pay for my car through my mother. I give her a check every few months for however much it costs, but I have never seen an insurance bill or anything of the sort, yet.

I paid for what I think is the last semester of school that I can afford before I go into my savings account, which I do not want to do. Chances are, I will need to take out a loan. I have no idea how to get one, which I don’t imagine is terribly difficult, but, I don’t know how to “shop around” for the “best” loan, either.
I don’t know what sort of financial aid to look into through my school. Their website’s pretty basic, and the brochure they gave me sounds like they’re trying to sell me on everything.

Then I’ll have to start paying rent. There goes my paycheck. I’ll need another job, I guess. That’s fine, I suppose.

Health insurance? I’ve never paid a dime. I helped pay some hospital bills that my insurance didn’t cover when I got in a car accident. That’s the closest I’ve had.

I could ask my mother all of this, but she’s in the habit of seeing what needs to be done and then doing it for me without explanation, even when I say I’d like to do it myself so that I can learn how to be independent. That’s gone on for years, even since high school, and I’ve been somewhat content with the realization that trying to get much helpful explanation out of her is futile. If she does try, anything comes off as an overly-technical series of tasks. I finally started filling out my own tax forms one year, finding that the instructions on the forms themselves were much clearer than the one that she gave while showing me in the past.

I know some of what’s ahead of me, but I haven’t the slightest clue how to handle it. So, what DO all these college kids do, when they move away from home and get apartments and houses with their friends? Seems to me like I’ll need to drown myself in loans no matter what. How DO I survive at college alone?

Herb Nowitzke

Michael asked:


Does anyone know the number that is printed on the sticker on the front of the US Bank Health Savings Solutions Debit Card? I took mine off before calling it and activating the card, because I’m an idiot, and customer service is closed on the weekends.

Much thanks!

Bobbie Rabun

yamahaguitargirl asked:


If I completed my W-4 as single, 2 allowances (but I have no children) will I get a refund this year?
It seems that my employer might have withheld too little federal tax. I make $1240 (gross) bi-weekly, and I am a single person who has no children but I claim 1 for myself and 1 for being single just as it instructs on my W-4 and just as I have ALWAYS done for the past 15 years of working. This year, it’s different. In 2007, I made gross wages of $29,900 and they took federal tax of $3636.14, then in 2008 I made gross wages of $32,312.30 and they took federal tax of $3,808.76, now for 2009 I made gross wages of $31,357.48 and they only took $2,284.00 in federal taxes ??? This will result in me owing the IRS! . Why is this year different from last year? I made less this year than last year and I got an almost $900 refund. The only other deductions I have are year end medical at $896.42 and year end health savings account contributions of which $300 was employer and $350 my own. There’s a significant difference it seems. What am I missing?? Why would my employer only take $2,284.00 year end for federal withholding when my salary hasn’t differed that much in the last 3 years?

Adam Waterman

MooMoo22 asked:


I really need someone who can be serious and give me GREAT advice about investing and money growing. I’m 23 years old. I do have a job and right now I’m holding onto like $120 that is in my bank. I just started working. I’m a HUGE spender and I mean I love to spend. But at the age of 23 …I think I should be saving and investing my money in something. At 23 I need a car, I need to get back in school, I need my own little place that is nice and not raggedy…and also insurance. Medical, dental, health and car insurance. So it will be wise for me to save. But I think saving..will take for ever. I need to find a way to make my money grow. Is there a way I can invest? I have nice clothes and shoes. Can I invest in clothes and shoes. I like to cook. Could I cook and give out food to people?

What exactly can I do at 23? Please no smart remarks. This question is not for immature people who are simple minded and doesn’t take things seriously.

Basically, I have a job. I want to hold on to my money that I put into my savings account and make it grow and grow. I need to understand in how can I invest in the money that I’m saving. Instead of spending it on clothes, shoes and food. Because all I’m doing is eating my money up. And that is why I broke now.

Sophie Pallas

Jade asked:


Select all the functions that are linear in the list below.

1. The total number of photocopies made to date since the start of the year if 2500 copies are made each day.
2. The time of day the sun rises as a function of the date.
3. The balance of a savings account if $200 is withdrawn each month.
4. The amount of a particular pollutant in a lake if filtering removes 2% each year.
5. Average health care costs per person if these costs double every 8 years.
6. The Dow Jones Industrial Average (stock market index) each day.

Bart Schraub