Health Savings Account-Health Savings Account Info

pdooma asked:


Instead, you could take the money you would be paying into premiums, put it into a health account that rolls over from year to year, and save it. Then when you are sick, think about how much cash you’d have in there to actually just pay for your treatments? Of course, that would require discipline which is pretty much unheard of nowadays.

Kimberlee Cripe

plantRancher asked:


what are the pro’s/con’s…

What is tax deductible and what is not?

ect…the gov. link is very generic and useless…need some-one to explain in much greater detail!

Yes…already know…must have health insurance w/high deductible..but after that it is FUZZY!

Does it carry over from year-to-year if you don’t tap into it?

what are penalty’s for w/draw….if not for health?

how much can you write off for tax purpose’s?

Loretta Denenberg

Lynda asked:


thank you

Alaine Mangum

“m” … asked:


As provincial Finance Minister Dwight Duncan pointed out in his budget speech two weeks ago, spending on health care in Ontario is rising faster than every other category. Twenty years ago, health care accounted for 32 cents of every dollar spent on provincial government programs; today, it is 46 cents (after discounting some one-time items); in 12 years, it is projected to be 70 cents.
That is clearly unsustainable. It will either bankrupt the government or drive down spending on every other item, from schools to subways.
What to do about it? Health Minister Deb Matthews provided a broad outline of the government’s plans in a speech yesterday. While short on specifics, the speech provided some interesting clues on where Matthews is headed.
First of all, she has wisely ruled out user fees or some other two-tier approach. “Whoever needs care will get care,” Matthews declared.
As for containing costs, the government is relying on a mixture of carrots and sticks. Among the carrots is legislation linking the pay of health-care executives to the quality of care delivered. The sticks include bargaining down generic drug prices and the “professional allowances” for pharmacies. (More on this in a subsequent editorial.)
Matthews said the government also plans to create an “independent, expert advisory board to provide evidence-based recommendations on clinical practice guidelines.” That sounds a lot like Britain’s National Institute for Health and Clinical Excellence, the watchdog that issues guidelines on what medicines, treatments and procedures are appropriate for coverage. Its recommendations have saved the British National Health Service hundreds of millions of pounds, but not without some controversy.
Finally, Matthews referred to “patient-based” payments for hospitals, which now get block funding from the government. “The main goal is to move toward a model where hospitals are compensated for services they provide and not just receiving base-funding increases year over year,” she said. That could lead to rationalization of services, with certain procedures offered only in hospitals that can deliver them most efficiently. Again, it is likely to be controversial if it means closing, say, emergency rooms or obstetrics wards in some hospitals.
It is not clear how fast and far the government will move down this path, especially if it encounters public resistance. Matthews said her intention is to begin implementing the plan “in the coming year.” With an election looming next year, the government may miss that deadline. But at least it is starting to tackle the problem.

Roseanne Tiffin

David A asked:


I live in Wisconsin do I have to pay federal tax on HSA contributions for the year ? How about state tax ?

Denny Benchoff

The Robotic Dan asked:


I don’t know what all the fuss is about health care. I am very healthy and very careful with what I do. I’d like to take a gamble this year and decline health care coverage for myself, instead taking back that hard earned cash and putting it in my bank account. Anyone ever take this risk before and have it pay off?

Marcus Mooty

Joshua Branch asked:


Now I know a lot of people do not advise getting a dog in college. Many popular reasons include, you won’t have time, you won’t have money, you will want to go out and experience things, etc. However, I feel like my scenario is slightly different (and I’m sure everyone who’s thought about this feels their scenario is different.)

First, I have well over $4,000 saved up for expenses. Including the dog, equipment (cage, leash, etc.), and any first vet bills. This is all money saved up currently, and an addition $500 will go into my dog saving account after this summer, maybe more depending on how summer work goes. I will also be working part time in college, to make side money, and I also have some financial free way with my parents if needed. However, I do not want to rely on them for money obviously.

Secondly, I have an apartment that allows pets. They allow large dogs as well (I want to get a Golden Retriever.)

Thirdly, I know that Golden Retrievers do tend to mature slowly but I have dealt with them before. I am confident that I am capable of dealing with the slow age maturation and 2 year puppy-hood.

More importantly though, most people say you won’t have time for a dog, but I simply do not think this is true. I am at a large University, and my first two semesters I have made Dean’s list, my second semester getting all A’s. Simply put, I have an incredible amount of time, even when taking 18 credits.

I no longer need to take 18 credits, and if I decide to purchase my pup, I will be cutting back since I only need to average 15 credits the rest of my college career to graduate on course (4 years.)

My schedule for fall semester essential ends up being class for 1 hour, then a 2 hour window break, class for 1 hour then a 2 hour window break. And on Tue. and Thurs. my classes only start at 2 pm and both end by 430.

Furthermore, I hardly study. It’s not that I don’t take my classes seriously, its just that I’ve always been the kind of person to gain knowledge from lectures via auditory learning, not visually enhanced learning like notes or repetitive study. And not to sound arrogant but I am also pretty naturally intelligent.

I have a fiance who attends college with me who has a schedule that is opposite of mine. So when I have class she does not. So the puppy will have plenty of people time.

And in regard to any statements about damage control that I may be worried about, you’re going to have that with ANY puppy. The idea of having to fix up something, or some chewing, is simply a fact of having a puppy. It doesn’t matter if you live in a crappy apartment, or a million dollar house, there are going to be damages with a puppy involved. And in all honest, with the roommates i’ve had prior, I’m not too concerned with the damage a puppy will do. My roommates could probably out do the dog.

Also I am not considering adopting a dog. I’ve had friends who volunteer and have spent hours and hours in dog shelters, and a family member who adopted a dog. And I have found that many dogs up for adoption have a slew of issues ranging from aggression to just simple poor training. Some older dogs are perfectly fine in regard to training and habits, but may have health problems. And I think it is poor responsibility on my part to adopt a dog with such problems that I couldn’t handle or afford. Not because I don’t think I can, but because I would prefer a dog with a “clean slate” that I can train and handle myself and who obviously has good health and has (not to sound morbid) breeder “warranty.”

Anyway, I am hoping for some logical, helpful, no-biased, and well backed up answers as to why I SHOULDN’T get the dog, or if you think I should why should I? Something to really make me think other wise or make me go all in.

Denna Strickland

Gerry D asked:


Are you also aware of the Impact of Health Care Reform on Your Health Care Flexible Spending Account?

I am attempting to understand now what it is that I as a consumer will have to do in the event that my 10 year old son goes to the Doctor, receives a prescription, and Medical Advice also tells me that I should purchase an over-the-counter medicine such as Motrin or some other easy to purchase item. Am I now going to have to ask this same Doctor for a prescription in order to get reimbursed? It sure looks that way to me. Before I would merely purchase the OTC medicine, save the receipt, submit the receipt with a reimbursement form and then in a few days the reimbursement would show up in my Bank Account.

Regardless of party affiliation I find this new “rule” ridiculous. I feel that there will now be a “creep” or slow decay of the current Health Plan I am on and other related benefits that I am already paying too much for. I also figure I can’t be the only one who feels this way nor am I the only one that is perplexed why this has to be the way it is.

Your thoughts? (I also wish Yahoo Answers had an Insurance section to the Health category as this topic in the next few years is going to become more complicated).

Penni Hawking

Marcos asked:


Ok sso this is the first year filing taxes by myself and was wondering which tax statements should i still wait for before filing?

I already received my W2 form from my employer, tax statement from my University/College… but im also wondering since i have applied with the FAFSA for financial aid, should i wait for a tax statement from them? Although this financial aid amount is already listen somewhere in the school’s tax statement i received. Also i applied for a student loan with Sallie Mae on that same school, how about a tax statement from them, although my loan is in defferal but is accruing interest over time until i start paying it back.
Also i have applied for a Federal Credit Union and they have given me no more than 10dollars since i’ve opened that saving account, as i’ve read earning more than that amount in interest will have to wait for a different tax statement from them. Also have AETNA health insurance through my employer and have used it since, tax statement from them?

So, sofar its W2 and College tax statement that i have.
Which others would i have to wait for considering the above mentioned.

Scottie Ober

snapshot8d asked:


I’d like to make a withdrawal from my Health Saving account, but I will have to pay taxes (as income) if the money is not for health expenses. If I replace that money before the end of the year, do I have to pay those taxes?

Ezra Alexandropoul