Health Savings Account-Health Savings Account Info

asked:


In fall of 2009, I went to an Aspen Dental near my apartment to receive several procedures: exam, x-rays, filling for cavities, crown, and 4 wisdom teeth removal. Aspen Dental was in network with my dental insurance provider. In November, I signed with Chase Health Advance to pay for my work for an 18-month no interest account. I knew initially that my insurance provider would pay for some of my services but not all. I ended up having to pay about $2600 myself for these costs. I went to look at the bill earlier this year and was just flabbergasted at how much I had to pay. After doing more research and looking at my benefits booklet, I determined that I was actually supposed to have more of my services covered and that Aspen Dental should have asked me for my medical insurance as well because my medical insurance would have covered completely my anasethia costs and 2 of my wisdom teeth removals. I contacted both Aspen Dental, my medical insurance provider, and my dental insurance provider. The medical provider said I had 12 months to file a claim and I surpassed that (though I find it odd that they can hassle patients for almost 5 years to collect an unpaid bill). After discussing with Aspen Dental and my dental provider, they refunded me about $1200 of those costs in the spring of this year. Both were careful to not place the blame on each other or themselves so I’m not really sure who is at fault. But apparently it was a glitch from the very beginning (I don’t know if Aspen Dental had the issue or if it was the dental provider) and I want to know what my options are. I am really not happy that I had to paid for my services upfront when my insurance should have covered a good portion and that if it were not for the fact that I paid attention to my bill, I never would have received a refund. That’s over $1200 that I received over 12 months late and could have used earlier or put in a savings account.

Yasuko Rady

cq79 asked:


Hello, I had a surgery over eight months ago and I paid my responsibility and I thought that was that. Then I received an explanation of benefits with the services I already received and there was this message code:

BW7 – The unit price has been bundled for negotiated savings and may result in a negative line item. It does not affect your coverage.

Basically, this results in me having to pay out another payment to the hospital, as I received a bill from them shortly thereafter.

Now, this seems really strange that they can charge for services, then decide eight months later that you have to contribute more after the accounts have been settled.

Could someone please shed some light on what this means and if it is something I can fight?

Thanks for your time!

George Cyran

Daphne Katz asked:


Everything I have read says that I need to have a High deductible health plan to be eligible. but I have a good health insurance plan that is not high deductible. Also I have a good dental plan, however my dental treatment (qualified under HSA) will cost me several thousand dollars over my coverage limit. Is there a way to get and use an HSA account to cover these expenses?
and if I am self employed or running a small business can I set up an FSA for myself?

Andrew Jeancy

Butterfly heart asked:


My husband is changing jobs. We currently have a Health Savings Account and will also have one with the new company. We have doctor bills that were from the time when he was with the old company. Can we use our health savings account to pay those old bills even if the money was contributed into the account with his pay from the new job?

Granville Bertinetti

John P asked:


I work and my wife is pregnant with our third child. She currently stays home to care for our two older children. Our income looks like it qualifies my pregnant wife and two children for the Healthy Kids medicaid program here in Michigan. Can I enroll them in that and then drop my coverage at work? What about my Health Savings Account? I just want to know if any of you have any experience with this out there or have some information to pass along. Thanks!

Lyndon Leming

asked:


I understand one must have a high deductible health insurance or you cant get the tax break. Is that right ?

How much can one put in per year ? Does it have to be from earned income or can it be interest, dividends & capital gains ?

Noe Magwire

bazoo asked:


I have an HSA (Health Savings Account) and will be 65 the end of this year. Can I continue to contribute to it? Also, if I withdraw money from it after age 65 does it have to be for medical expenses or can I withdraw for anything without a penalty? Also, I have already paid taxes on this money. Am I going to have to pay tax again when I withdraw it?

Seymour Lowhorn

asked:


Why, when I get a blue cross quote for health insurance, can they give me a rate withOUT asking about my health ?

Is it really the same price no matter if Im in perfect heath and jog 5 times a week or if I have all kind of health problems, am hundreds of pounds overweight and am a chain smoker ?

A side question,regarding health savings accounts. Does one have to have earned income like with an IRA to fund them ? Or can they be funded with savings , interest income or stock gains ?
Thanks
Found this…HSA can be funded from anywhere.

I don’t have a job, can I have an HSA?
Yes, if you have coverage under an HDHP. You do not have to have earned income from employment – in other words, the money can be from your own personal savings, income from dividends, unemployment or welfare benefits, etc.

Latrina Potenza

Mae asked:


With the allowable expenses that can be claimed on either a Flexible Savings Account or a Health Savings Account changing for 2011, which kind of pretax health care reimbursement account would you recommend and why? Our situation is one 54yo working adult with two dependents: One, a 50yo unemployed adult, and the other, their 20yo son, a full-time student. And, generally speaking, all are in good physical and mental health.

Stewart Weeman

Hatikvah JPA asked:


I just received a newsletter from my health insurance company with these items:

Health Insurer Fee to be phased in starting 2014: There will be a Health Insurance Provider Fee on premiums charged by health insurers. Some plans will be exempt, for example: Medicare, Medicaid, etc. It is estimated this will add at least 3 percent to insurance premiums.

Congress anticipates $455 billion savings from cuts to both Medicare and Medicaid. Providers and healthcare facilities are expected to cost-shift expenses to commercial plans.

The U.S. faces a shortage of primary care physicians (40,000 in the next decade), Oncologist (3,000 to 4000 already today), Nephrologists and — perhaps the most scary — Nurses (300,000) in the future according to one study. These figures do not account for the demand created by health care reform. So, we have a ways to go before we have reached our goal of affordable healthcare for every American. The Affordable Care Act is a good start toward that goal.

What is the Affordable Care Act?
.

Betty