Can I get a Health Savings account privately?
by admin ~ June 20th, 2007 . Filed under: Personal Finance .
scorpiomaj27 asked:
Is it legal/possible for me to get an HSA privately, outside of my employer? I have good health coverage, but no vision. So it’d be nice to get my new $400 glasses tax free.
Is it legal/possible for me to get an HSA privately, outside of my employer? I have good health coverage, but no vision. So it’d be nice to get my new $400 glasses tax free.
(If so, where? and how?)
Waylon Merli
June 23rd, 2007 at 2:20 pm
Yes, but it doesn’t do any good.
You end up paying taxes on the money, so there is no benefit to it.
Shop around for your glasses. I get mine at WalMart for about $100.00, only 1/4 as much as you are quoting, unless you want really expensive frames.
June 26th, 2007 at 1:40 pm
You can get them through tons of companies, just like you can get more standard type plans on your own. But they aren’t much good to the average joe. They have high deductibles and premiums. They are really for the person who makes enough money that paying for regular visits and such out of pocket makes more sense than paying monthly premiums for “regular” coverage, and they just have the HSA in case something major comes up. You would save tons of dough by just paying for your glasses, taxes or not.