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HSA or other options available with high deductible health insurance
Posted on 7/2/15 at 4:56 pm
Posted on 7/2/15 at 4:56 pm
Background. Wife-self employed attny
Me-self employed with S Corp with one employee, myself. All others are 1099 (non issue)
Our health ins is BCBS and I think she got it thru the bar association....it's not a "group", it's basically a family policy. I think it's a basic 5k ded with a 7500 family max (which we have reached already). So I want to set up an has STAT so I can reimburse myself the 7500.
What's the best option for an HSA or other product to cover our out of pocket medical?
I saw a discussion on here a while back talking about other options besides a straight HSA.
Me-self employed with S Corp with one employee, myself. All others are 1099 (non issue)
Our health ins is BCBS and I think she got it thru the bar association....it's not a "group", it's basically a family policy. I think it's a basic 5k ded with a 7500 family max (which we have reached already). So I want to set up an has STAT so I can reimburse myself the 7500.
What's the best option for an HSA or other product to cover our out of pocket medical?
I saw a discussion on here a while back talking about other options besides a straight HSA.
2
Posted on 7/2/15 at 9:05 pm to GeeOH
You have to make sure that your plan is HSA qualified before you start one.
Posted on 7/3/15 at 10:50 am to GeeOH
HSA's have basically become pointless under the ACA.
Also if you are referring to catastrophic insurance as high deductible insurance - you can only have that if you are under 30
Also if you are referring to catastrophic insurance as high deductible insurance - you can only have that if you are under 30
Posted on 7/3/15 at 11:39 am to Ole War Skule
quote:
hsa bank
That's who I used when I had one. I had it for maybe a year or a little more when I started my career at 26. I then proceeded to break my finger playing flag football and had surgery, which wiped most of it out. Shortly thereafter, my company got rid of the HDHP plan and so I removed the little I had put back in and closed it since I couldn't keep contributing.
You could say stuff just didn't work out for me
This post was edited on 7/3/15 at 11:40 am
Posted on 7/3/15 at 12:04 pm to BACONisMEATcandy
quote:
HSA's have basically become pointless under the ACA.
Please explain. You can take pre taxed money to pay expenses. My deductible is 7500. So why wouldn't it use an has or similar product?
Posted on 7/3/15 at 12:08 pm to LSUGUMBO
quote:
You have to make sure that your plan is HSA qualified before you start one.
It is. It had to be considered "high deductible". Mine is.
Posted on 7/4/15 at 8:08 am to Teddy Ruxpin
quote:
which wiped most of it out. S
yeah, that kinda ruins it.
I use mine as a tax free investing account and have never taken anything out while contributing max each year. Better than an IRA as withdrawals won't be taxed if used for medical expenses and I can trade without having to worry about capital gains.
Posted on 7/7/15 at 1:25 am to BACONisMEATcandy
quote:
HSA's have basically become pointless under the ACA.
It's the ACA that's driving individuals and companies into high deductible plans. Demand for HSA's has been increasing since ObamaCare, not decreasing.
A WSJ article puts the number of people currently in HD plans at 37 million. Projections for people enrolled in the ObamaCare exchanges by *2025* stand at only 22 million.
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