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Started By
Message
Health Savings Accounts (HSA) for ALL
Posted on 8/3/20 at 3:38 pm
Posted on 8/3/20 at 3:38 pm
HSAs for All
Rand Paul introduced legislation that would expand eligibility for HSA's and remove contribution limits.
Wasn't trying to get political but I thought this might be of interest to those who are like me and their company does not offer a high deductible plan.
Rand Paul introduced legislation that would expand eligibility for HSA's and remove contribution limits.
Wasn't trying to get political but I thought this might be of interest to those who are like me and their company does not offer a high deductible plan.
11
Posted on 8/3/20 at 3:44 pm to BamaAlum02
(no message)
This post was edited on 3/31/23 at 7:37 am
Posted on 8/3/20 at 3:47 pm to BamaAlum02
I support everything in this bill - I really hope it gains some traction. The only reason I am enrolled in a HDHP is so I would have access to an HSA.
I don't know how removing the contribution limit would work though. HSAs are already the ultimate retirement account - removing the contribution limit would basically make it an unlimited traditional IRA + tax free withdrawals on health related expenses.
I don't know how removing the contribution limit would work though. HSAs are already the ultimate retirement account - removing the contribution limit would basically make it an unlimited traditional IRA + tax free withdrawals on health related expenses.
Posted on 8/3/20 at 4:00 pm to BamaAlum02
i wish i can stop using this high deductible plan and keep my HSA.
I would like to know how this will affect the HSA loophole as a retirement account.
I would like to know how this will affect the HSA loophole as a retirement account.
This post was edited on 8/3/20 at 4:03 pm
Posted on 8/3/20 at 4:07 pm to BamaAlum02
Good legislation that will never see the light of day in the House 
Posted on 8/3/20 at 4:35 pm to BamaAlum02
What would you guys consider a high deductible for a HDHP that offers a HSA. MY company offers one but the deductible is $6k with a $1k contribution but the premiums are as high as the PPO plan offered with only a $3k deductible. I get the rational behind a HSA, but in this instance it doesn't seem worthwhile.
Posted on 8/3/20 at 8:21 pm to BamaAlum02
Democrats will kill this. Anyone with a decent job and willingness to try to save is the enemy.
Posted on 8/4/20 at 7:08 am to BamaAlum02
I switched my wife and I over to a HDP with the HSA. We max contributions for both and provides tax shelter for $7,000 worth of income.
The down side is the startup for most people.
HSAs accrue funds into them. That means your first 6-8 months will only accumulate and likely you will not be able to use it for any substantial bills.
It also strikes me like a pain in the arse for a withdrawal. It’s not FSA swipe a card, go home happy.
The down side is the startup for most people.
HSAs accrue funds into them. That means your first 6-8 months will only accumulate and likely you will not be able to use it for any substantial bills.
It also strikes me like a pain in the arse for a withdrawal. It’s not FSA swipe a card, go home happy.
This post was edited on 8/4/20 at 7:09 am
Posted on 8/4/20 at 7:45 am to BamaAlum02
Just another bill that tries to figure out HOW to pay for astronomical health care costs.
What no one ever does, and what we should do, is address the wasteful, inefficient, opaque system so that the outrageous costs are kept in check.
Stop figuring out how to pay $100,000 for an outpatient procedure, and start asking why it costs that much.
What no one ever does, and what we should do, is address the wasteful, inefficient, opaque system so that the outrageous costs are kept in check.
Stop figuring out how to pay $100,000 for an outpatient procedure, and start asking why it costs that much.
Posted on 8/4/20 at 9:16 am to BamaAlum02
GOP had their chance to enact change in 2017-2018.
Posted on 8/4/20 at 9:41 am to BamaAlum02
There's absolutely no reason this should be a partisan issue, whatsoever. There is literally zero logical, fiscal, or even emotional argument against HSA's for All.
Not only should HSA's be universal, they should be mandatory.
Not only should HSA's be universal, they should be mandatory.
This post was edited on 8/4/20 at 9:42 am
Posted on 8/4/20 at 11:07 am to BamaAlum02
quote:
remove contribution limits
I don’t think this has a chance of happening. If it did, I would probably stop 401k contributions entirely and solely use the HSA, employer contributions be damned.
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