Health Savings Account-Health Savings Account Info

Sandy H asked:


I have a Health Savings Account. I am now enrolled in Medicare because I turned 65 this year. However, since I am still working and not drawing Social Security benefits, I have to pay the Medicare Part B premiums out-of-pocket. May I use the money in my HSA to pay these premiums?

Florentino Salsberg

DONALD T asked:


Taxation: Three great waves …. A must read, this is not bashing, it’s the
facts of one of Obama’s “changes”…….

MAKE SURE ALL YOUR FRIENDS AND FAMILY UNDERSTAND JUST WHAT THIS OBAMA
“CHANGE” IS GOING TO DO!!!

In just six months, on January 1, 2011, the largest tax hikes in the history
of America will take effect.

They will hit families and small businesses in three great waves.

On January 1, 2011, here’s what happens… (read it to the end, so you see
all three waves)…

First Wave:

Expiration of 2001 and 2003 Tax Relief

In 2001 and 2003, the GOP Congress enacted several tax cuts for investors,
small business owners, and families.

These will all expire on January 1, 2011.

Personal income tax rates will rise.

The top income tax rate will rise from 35 to 39.6 percent (this is also the
rate at which two-thirds of small business profits are taxed).

The lowest rate will rise from 10 to 15 percent.

All the rates in between will also rise.

Itemized deductions and personal exemptions will again phase out, which has
the same mathematical effect as higher marginal tax rates.

The full list of marginal rate hikes is below:

* The 10% bracket rises to an expanded 15%
*
* The 25% bracket rises to 28%
*
* The 28% bracket rises to 31%
*
* The 33% bracket rises to 36%
*
* The 35% bracket rises to 39.6%

Higher taxes on marriage and family.

The “marriage penalty” (narrower tax brackets for married couples) will
return from the first dollar of income.

The child tax credit will be cut in half from $1000 to $500 per child.

The standard deduction will no longer be doubled for married couples
relative to the single level.

The dependent care and adoption tax credits will be cut.

The return of the Death Tax.

This year only, there is no death tax. (It’s a quirk!) For those dying on
or after January 1, 2011, there is a 55 percent
top death tax rate on estates over $1 million. A person leaving behind two
homes, a business, a retirement account, could easily pass along a death tax
bill to their loved ones. Think of the farmers who don’t make much money,
but their land, which they purchased years ago with after-tax dollars, is
now worth a lot of money. Their children will have to sell the farm, which
may be their livelihood, just to pay the estate tax if they don’t have the
cash sitting around to pay the tax. Think about your own family’s assets.
Maybe your family owns real estate, or a business that doesn’t make much
money, but the building and equipment are worth $1 million. Upon their
death, you can inherit the $1 million business tax free, but if they own a
home, stock, cash worth $500K on top of the $1 million business, then you
will owe the government $275,000 cash! That’s 55% of the value of the
assets over $1 million! Do you have that kind of cash sitting around
waiting to pay the estate tax?

Higher tax rates on savers and investors.

The capital gains tax will rise from 15 percent this year to 20 percent in
2011.

The dividends tax will rise from 15 percent this year to 39.6 percent in
2011.

These rates will rise another 3.8 percent in 2013.

Second Wave:

Obamacare

There are over twenty new or higher taxes in Obamacare. Several will first
go into effect on January 1, 2011. They include:

The “Medicine Cabinet Tax”

Thanks to Obamacare, Americans will no longer be able to use health savings
account (HSA), flexible spending account (FSA), or health reimbursement
(HRA) pre-tax dollars to purchase non-prescription, over-the-counter
medicines (except insulin).

The “Special Needs Kids Tax”

This provision of Obamacare imposes a cap on flexible spending accounts
(FSAs) of $2500 (Currently, there is no federal government limit). There is
one group of FSA owners for whom this new cap will be particularly cruel and
onerous: parents of special needs children.

There are thousands of families with special needs children in the United
States , and many of them use FSAs to pay for special needs education.

Tuition rates at one leading school that teaches special needs children in
Washington , D.C. ( National Child Research Center ) can easily exceed
$14,000 per year.

Under tax rules, FSA dollars can not be used to pay for this type of special
needs education.

The HSA (Health Savings Account) Withdrawal Tax Hike.

This provision of Obamacare increases the additional tax on non-medical
early withdrawals from an HSA from 10 to 20 percent, disadvantaging them
relative to IRAs and other tax-advantaged accounts, which remain at 10
percent.

Third Wave:

The Alternative Minimum Tax (AMT) and Employer Tax Hikes

When Americans prepare to file their tax returns in January of 201

Tamica Stobierski

DONALD T asked:


Prescription For Disaster Now Covered Under Obamacare
by Ann Coulter
03/31/2010

On the “Today” show this Tuesday, President Obama claimed the massive government takeover of health care the Democrats passed without a single Republican vote was a “middle of the road” bill that incorporated many Republican ideas.

One Republican idea allegedly incorporated into the Democrats’ health care monstrosity is “medical malpractice reform.” Needless to say, the Democrats’ idea of malpractice reform is less than nothing. Until trial lawyers are screaming bloody murder, there has been no medical malpractice reform.

The Democrats’ “malpractice” section merely encourages the states to set up commissions to “study” tort reform, in the sense that frustrated mothers “encourage” their kids not to slouch. By “study,” the Democrats mean “ignore.”

So we get more taxpayer-funded government workers under the Democrats’ “medical malpractice reform,” but not one tittle of actual reform.

Democrats manifestly do not care about helping Americans get quality health care. If they did, they could not continue to support trial lawyers like John Edwards making $50 million by bringing junk lawsuits against doctors who are saving people’s lives. (At least Edwards has not done anything else to publicly disgrace himself since then.)

At a minimum, any health care bill that purports to improve Americans’ health, rather than trial lawyers’ bank accounts, must include a loser-pays rule and a restriction on damages to actual losses — as opposed to punitive damages, which mostly serve to enrich the John Edwardses of the world, and their mistresses.

The Democrats also lyingly claim their health care reform includes the Republican ideas of competition across state lines.

I know they’re lying because — well, first because I read the bill — but also because Democrats are genetically incapable of understanding the free market. You might say it’s a pre-existing condition with them.

True, you can buy insurance across state lines under the new health insurance law — but only after the Democrats have created a national commission telling all insurance companies what they are required to cover.

That’s not as bad as the current patchwork of state mandates — it’s worse!

At least before the passage of ObamaCare you could move to states such as Idaho or Kentucky, where all insurance plans aren’t required to cover fertility treatment, restless leg syndrome and social anxiety disorder.

Under federal mandates, there will be no escape.

That’s right, a single, one-size-fits-all, jammed-down-your-throat national plan is what the Democrats mean when they say their plan includes “competition across state lines.”

How much do you want to bet that the national commission in Washington will mandate coverage for every form of shopping addiction treatment, body image therapy and sex-change operations with mandatory mental health counseling, but not injuries from hunting accidents or smoking-related illnesses?

The Democrats compare their new health care bill to entitlements like Medicare and Medicaid. But those are welfare, not health care. They may go to deserving welfare recipients, but they are a government-enforced gift from the young to the old (Medicare), and from the middle class to the poor (Medicaid).

There’s no reason why most Americans shouldn’t be able to buy our own medical insurance the same way we buy our own cell phones, hair care and cars.

And just incidentally, Medicare and Medicaid are projected to go bankrupt slightly before the United States of America is projected to go bankrupt. So turning all of health care into a larger Medicare program may need a little more thinking through.

These programs will have to be reconfigured at some point, but how society takes care of the old and the poor should be put in a separate box from how the non-elderly and non-poor should obtain health care.

Democrats want to turn the entire citizenry into welfare recipients.

A few weeks ago, The New York Times ran an editorial noting the amazing fact that, by the middle of this year, there will be an estimated 6.8 billion people on Earth — and 5 billion will have cell phones! (Even more astounding, at least one of them is seated directly behind me every time I go to the movies.)

How did that happen without a Democrat president and Congress using bribes, parliamentary tricks and arcane non-voting maneuvers to pass a massive, hugely expensive National Cell Phone Reform Act?

How did that happen without Barney Frank and Henry Waxman personally designing the 3-foot-long, 26-pound, ugly green $4,000 cell phone we all have to use?

How did that happen without Obama signing the National Cell Phone Reform bill, as a poor 10-year-old black kid who couldn’t afford to text-message his friends looked on?

The reason nearly everyone in the universe has a cell phone is that President Reagan did to telephones the exac

Numbers Koutras

OKey Dokey asked:


From before the time I heard Obama wouldn’t produce his birth certificate I knew he wasn’t the one to lead our country. It shows he has a secret he wants no one to see, for fear he wouldn’t get elected.

America is still the best country in the world, but if it continues in the path Obama wants it, we will be under his rule. We are free, and we should keep it that way.

The casual way he talks about murdering babies is horrible. Abortion is murder.

He was in a church that preaches **** against whites, doesn’t that prove that he is ******?

Now he wants to take all our free rights away. Right out of the gate he started throwing money away that wasn’t even in any account to begin with, so now we owe more. We had no say. When people are down, he’s going to waste more money?

He’s telling banks and the auto industry what they can and can’t do, who’s next?

He strong armed congress to sign a wasteful bill that they now regret, (they work for us and should do their jobs by reading, understanding and approving only what’s best for us, no matter what party they’re in) then tried again for the health scam, but hopefully they will read and understand it this time. Some things may be good in it, but what if they signed it and the funds aren’t there to pay for it. They will then decide who will be able to receive benefits from it.

So their choice may come down to, do we pump a lot of money into saving this old person, handicapped child, cancer victim so they can live a little longer, or pay for the persons that will be able to contribute to the tax pool? He’s already shown he doesn’t care about human life. Who do you think he’ll pick?

If you care about our nation, let your voice be heard.
Contact Congress.org and pick out your state officials and contact them. You want to keep the option of having private insurance, cause when his plan fails, you’ll still have insurance.

Congress.org They work for YOU, not Obama. If they worked for him, they would have signed it already.
I’m not a racisit, but what do you think would have happened if McCain was discovered to have gone to a church that preached **** against blacks. It would have been all out caas
And for the comment about abortion, I wouldn’t try it. I don’t believe in murder.
And, I don’t want one penny of my tax dollars going to abortion.

Marty Silton

Inquisit asked:


“The color of justices is not Black or White, it’s Green” by Johnny Cochran (Lawyer).

It is sad to say that incompetent men are running government and they are incapable of obtaining money by themselves, hence they need to pass a bill in order for them to get kick-backs from big corporations.

Every law pass is to benefit a certain group (special interest) to obtain a certain gain. You might ask yourself, if Laws are passing and we the people have voted for such bill, then we the people must suffer for our ill judgments. Such reasons might sound logical at the time but you must also take into account of these other factors as well.

Who do the voting? You? Not really, unless you are somewhat deep into politics. People who are the life-blood of America are not voters; they are too busy trying to better themselves in paying for college and working full-time. We trust government to work for our own interest, thinking that we the people will not vote on a bill that will harm ourselves. No rational person would do such a thing, we say to ourselves. However, you must take into account who do most of the voting. Here is who. Government worker, old people, and Dumb a*ses.

Government worker are so incompetent that they need to vote on a bill to preserve their own existence.
Old people who have the time to vote to pass a bill forcing us Hard Working American to pay for their health benefits. Don’t call me callous, if they were smart enough, they would have save up for their retirement rather than depending on government to keep them alive.
Dumb a*ses vote because they know no better, also such bill will not do them harm, remember, they are dumb a*sses and most dumb a*ses are poor and depend on government support. It’s like paying your union dues and you will get special treatment.

Unfortunately, we the hard working people do not belong in such unions and we are left to pay and SUPPORT the three categories listed above. You might ask yourself; these people pay the same taxes as I do so they too must feel injustices? Not really, remember when I say that they must vote on a bill to preserves themselves. The taxes they pay will most likely be a taxes that goes to government, funding government workers such as themselves. That’s what I mean by paying union dues.

In closing “there are no competent men in government, for if there was any, they would have been bought out by the private sector long ago”. Read Ayn Rand; Atlas Shrugged and you will know exactly what I mean.
If you are going to judge me, please judge me with reason. Tell me what you think and what you know. Prove me wrong and I will be grateful.

Dina Manard

Friar Timothy asked:


Would this work….if everyone in the medical profession were placed in a “Health Service Corps” and were given ranks and rates like in the military. If they got paid the same as military medical officers and enlisted do. I think it would do away with all the medical insurance companies and HMO’s. (which would save everyone money). Sure a doctor would make enuff money to drive Lincolns and Caddies but maybe not Bugatti’s or Lamborghini’s. Instead of people and businesses paying for medical insurance and HMO’s we could take say 3-4% of a persons pay and it would go into the medical Health Service Corps accounts…..none would be taken for HMO’s or insurance companies (and their over paid CEO’s)…..

Might it work ?

Trinidad Seamen

B asked:


pretty much chooses who can live and who can die, many times they don’t allow experimental treatments, that could save lives, or they don’t pay for treatments. Whats with these people saying how the government will decide who can live and who can die, and that we’re letting the government “kill grandma” If you look at Europe you see that everyone gets free health care (even those who visit there on vacation) Over there you don’t have to worry about filing for bankruptcy due to too many medical bills, unlike here. Why is there many people who are against it? I’m for one for it, as I got denied due to a cyst I had drained 4 years ago, I couldn’t even get approved for a higher premium account, and now have $6000 more in medical bills since, due to an accident in march.

What are all your thoughts on this health care reform bill? And what is with these town hall meetings with those who are against it big time, due to fear montage, insurance companies and Conservatives have created?

Gus Real

She_Wolf asked:


I live in Arizona (Maricopa county). I have alittle money in my bank account from an inheritance (Wich was given to my boyfriend, we share a bank account), but I want to save it for my son’s future. I dont know if i can get AHCCCS health insurance and food stamps because of this (and I rather not take the money out of the bank) Does anyone know the limit on the amount of money you can have before they will help me? Thank you

George Cyran

JohnO asked:


If you do, then read it. Your bank account becomes government property if you get a surgery. Your life and health care becomes an investment if your over 70 you are not gonna get an operation to save your life. It is all in the 615 page document that i have read over 500 pages of now.

here is the site address http://help.senate.gov/BAI09A84_xml.pdf

Leonardo Agostinelli

Tom S asked:


(1) Trillions spent on TARP, bailing out the private and public banks and insurance companies (Bank of America, AIG, Fannie Mae, CitiGroup etc). We get higher banking fees, deceptive loans and credit cards, closing equity lines of credit, and 0.25% interest in our “equity builder” savings accounts in return.

(2) A trillion or more, to be spent over 10 years on a publicly run health care system. Can the government do a better job than private insurance companies? What about pre-existing conditions? Will we still be scared to go to the doctor (and get over-billed)?

(3) Or the stimulus package. 30000 jobs created for a trillion dollars. Cash for clunkers, $8000 for first time home buyers, and we all see $13 more in our weekly paychecks?

So which is the best use of our money?

Ailene Lane