Health Savings Account-Health Savings Account Info

notme asked:


I was unfortunately unable to BF my child, and also dont live in the USA. However when i saw this in my email I was stunned:

the Internal Revenue Service – yes, the tax folks! – had determined that “breast-feeding does not have enough health benefits to qualify as a form of medical care” and, as a result, will not allow ****** pumps and supplies to be purchased using funds in pre-tax medical savings accounts.[1]

This decision completely defies logic! Particularly since every major medical authority, including the American Academy of Pediatrics, recommends breastfeeding exclusively for the first six months and support for breastfeeding for the first year and beyond.[2] These recommendations are based on the overwhelming evidence that it provides health benefits to both mother and child. And the Food and Drug Administration already considers ****** pumps medical devices and regulates them as such.[3]

and there is an article here:

http://abcnews.go.com/Health/irs-breast-pump-tax-deductions/story?id=11986676

What is your opinion regarding this outrageous issue?
I totally agree that it is not medically necessary. However, to say that BF does not have enough health benefits to qualify as a form of medical care” is absurd. Its like saying that it is equal to formula or that formula is just as good as ****** milk

Connie Aylward

Future Mrs. N asked:


Im 30 weeks pregnant and I’ve been looking into health insurance policies for our soon-to-be newborn due in June. Because it’s too expensive to put her on my insurance ($400+ monthly) I’ve been looking on ehealthinsurance.com to find plans.

All these policies cover different things such as Rx, health savings accounts, maternity, etc. My question is, do I need to get a policy that covers maternity in order to get coverage for our newborn? I thought maternity was only for PREGNANT women but there are so many different definitions that I’m confused. Help me out please!

Also, I have my own insurance policy through my work and will not be needing this health insurance. It will only be used for the baby. Thanks!
Where do I go to get a policy just for my child?

Marie

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

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

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

Nag asked:


Hi,

Typically our HMO pays 80% of the bill and we need to pay 20% of the bill which are few thousands $$$.We plan to open an HSA(Health Savings Account) to cover our baby birth/delivery expenses.

I didn’t see child birth in IRS form on HSA

http://www.irs.gov/publications/p502/index.html

But not sure whether child birth related expenses are eligible medical expenses or not.

Does any one used HSA for child birth/delivery expenses.

Thx in advance for your time and help…
Do we need to use the funds in the same calendar year?

Jamar Egvirre