HSA with high ded health plans ... any definitive answers? | TigerDroppings.com

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tiger91
LSU Fan
South of Lafayette
Member since Nov 2005
12979 posts

HSA with high ded health plans ... any definitive answers?


Made a deposit today for the year into the HSA that we have.

I've read that there will be "changes" but my agent said they've been told nothing definitive.

Anyone here in the know? Thanks.








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Hand
Army Fan
far side of the moon
Member since Dec 2007
1998 posts

re: HSA with high ded health plans ... any definitive answers?


Yep. The penalty increased to 20% if you use the money for non-qualified expenses. That's about it.





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tiger91
LSU Fan
South of Lafayette
Member since Nov 2005
12979 posts

re: HSA with high ded health plans ... any definitive answers?


So it's still a tax advantage for deposits and I can still let it accumulate and use it as a "retirement type savings" if we don't need it for medical right now?

Thanks. It's worked for us to use it for those BIG things ... braces, glasses/contacts when 3 of us needed them all at the same time, and hubs is having surgery in January. YIKES.






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Hand
Army Fan
far side of the moon
Member since Dec 2007
1998 posts

re: HSA with high ded health plans ... any definitive answers?


Yes. For now, that's what we were told.








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sstig
LSU Fan
Houston
Member since Oct 2003
1657 posts

re: HSA with high ded health plans ... any definitive answers?


Do you have to make the deposit for 2012 before the end of the year or can you make it prior to filing 2012 tax return?





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rmc
LSU Fan
Zachary, LA
Member since Sep 2004
22481 posts
 Online 

re: HSA with high ded health plans ... any definitive answers?


quote:

Do you have to make the deposit for 2012 before the end of the year or can you make it prior to filing 2012 tax return?


April 15, 2013






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Weaver
Southeastern LA Fan
Mandeville, LA
Member since Nov 2005
21082 posts

re: HSA with high ded health plans ... any definitive answers?


I did this but not putting anything in. My employer put in $300 that I can use for my dental, vision or prescriptions. I only go once a year for a checkup and that is wellness visit and covered 100%. I was paying $300 per month now paying $65 per month but have a deductible now.





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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
29509 posts

re: HSA with high ded health plans ... any definitive answers?


quote:

So it's still a tax advantage for deposits and I can still let it accumulate and use it as a "retirement type savings" if we don't need it for medical right now?








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bubbz
Baylor Fan
Team Boxtard
Member since Mar 2006
17840 posts

re: HSA with high ded health plans ... any definitive answers?


quote:

So it's still a tax advantage for deposits and I can still let it accumulate and use it as a "retirement type savings" if we don't need it for medical right now?


This is how I treat my HSA, I contribute about 30% more a month than I'm supposed to. The account has steadily built over the past 3 years.






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tiger91
LSU Fan
South of Lafayette
Member since Nov 2005
12979 posts

re: HSA with high ded health plans ... any definitive answers?


Yeah, we put in one big maxed out dep each year and it's grown nicely (not from the interest but from our not using it).

Surgery in January for hubby will be basically pulling out what I just put in to meet that high ded but I'm glad to know it's there.






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ATL TGR
LSU Fan
Houston
Member since Apr 2008
2874 posts

re: HSA with high ded health plans ... any definitive answers?


Don't forget you can and should invest within your HSA account





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bubbz
Baylor Fan
Team Boxtard
Member since Mar 2006
17840 posts

re: HSA with high ded health plans ... any definitive answers?


I don't have this option with my HSA unfortunately - it only sits in a savings earning little to no interest.





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