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770 Savings Account Question?
Posted on 3/6/15 at 11:44 am
Posted on 3/6/15 at 11:44 am
Any of you money gurus ever heard of this, my 85 year old neighbor came over asking about them, some guy approached him about buying into one. From what I can find its a scam using whole life insurance.
Posted on 3/6/15 at 11:45 am to tdog
Posted on 3/6/15 at 11:46 am to tdog
quote:
my 85 year old neighbor came over asking about them, some guy approached him about buying into one
If someone is approaching an 85 year old telling them they need to buy some sort of account, I would presume that it's not exactly on the up and up.
Posted on 3/6/15 at 11:47 am to tdog
I'm in a 775 Plan - it can be legit if you're buying through the gov. It's one of the few bright spots in ObamaCare.
Basically government matches dollar for dollar every one you contribute to your health savings account up to a predetermined amount (775$)
so for 775$ you get 1500$ to spend on healthcare no strings attached
Basically government matches dollar for dollar every one you contribute to your health savings account up to a predetermined amount (775$)
so for 775$ you get 1500$ to spend on healthcare no strings attached
Posted on 3/6/15 at 11:47 am to WG_Dawg
Guy told him its a tax free savings account that draws 9%. I told him to stay away but i would ask around.
Posted on 3/6/15 at 11:52 am to tigerstripedjacket
quote:
Basically government matches dollar for dollar every one you contribute to your health savings account up to a predetermined amount (775$)
so for 775$ you get 1500$ to spend on healthcare no strings attached
Sounds like fishy math.
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