Hit or Skip: HSA accounts.

[Coronita]

What’s people’s take on HSA (health savings accounts)?
(There, I said it in a few words 🙂 )

[UCGal]

If you’re young, healthy, and don’t have kids that need period checkups, vaccinations, etc… then they can be a great thing.

If you’re closer to middle age, where the body starts to fail in unexpected ways, or if you have kids that can come up with unusal and creative ways to injure themselves (like when my then 4 year old stuck some beads up his nose…) then you might suck up your entire HSA savings account on the big deductable.

If I were single and in my 20’s or early 30’s I’d seriously consider it. I’m in my late 40’s with small kids – no way I’d do an HSA w/high deductable plan now.

[UCGal]

If you’re young, healthy, and don’t have kids that need period checkups, vaccinations, etc… then they can be a great thing.

If you’re closer to middle age, where the body starts to fail in unexpected ways, or if you have kids that can come up with unusal and creative ways to injure themselves (like when my then 4 year old stuck some beads up his nose…) then you might suck up your entire HSA savings account on the big deductable.

If I were single and in my 20’s or early 30’s I’d seriously consider it. I’m in my late 40’s with small kids – no way I’d do an HSA w/high deductable plan now.

[UCGal]

If you’re young, healthy, and don’t have kids that need period checkups, vaccinations, etc… then they can be a great thing.

If you’re closer to middle age, where the body starts to fail in unexpected ways, or if you have kids that can come up with unusal and creative ways to injure themselves (like when my then 4 year old stuck some beads up his nose…) then you might suck up your entire HSA savings account on the big deductable.

If I were single and in my 20’s or early 30’s I’d seriously consider it. I’m in my late 40’s with small kids – no way I’d do an HSA w/high deductable plan now.

[UCGal]

If you’re young, healthy, and don’t have kids that need period checkups, vaccinations, etc… then they can be a great thing.

If you’re closer to middle age, where the body starts to fail in unexpected ways, or if you have kids that can come up with unusal and creative ways to injure themselves (like when my then 4 year old stuck some beads up his nose…) then you might suck up your entire HSA savings account on the big deductable.

If I were single and in my 20’s or early 30’s I’d seriously consider it. I’m in my late 40’s with small kids – no way I’d do an HSA w/high deductable plan now.

[UCGal]

If you’re young, healthy, and don’t have kids that need period checkups, vaccinations, etc… then they can be a great thing.

If you’re closer to middle age, where the body starts to fail in unexpected ways, or if you have kids that can come up with unusal and creative ways to injure themselves (like when my then 4 year old stuck some beads up his nose…) then you might suck up your entire HSA savings account on the big deductable.

If I were single and in my 20’s or early 30’s I’d seriously consider it. I’m in my late 40’s with small kids – no way I’d do an HSA w/high deductable plan now.

[Coronita]

Oh sh!t never mind. I guess you have to be in a plan with a high deductible for you to qualify.

“An HSA qualified health plan is a health insurance plan with a minimum deductible of $1,150 (single coverage), or $2,300 (family coverage). Maximum annual in-network out-of-pocket expenses are $5,800 (single coverage) or $11,600 (family coverage).”

Second question…Anyone know what happens if you originally qualified because you were in a high deductible plan and than were able to obtain health coverage that wasn’t considered “high”? What happens to your HSA account.

Just trying to do some retirement planning in about 30 years from today. 🙂

This sort of sucks. I wish the U.S. had some tax-advantaged ways to accumulate $$$ for future medical expenses that you could carry around regardless of which employer(s) you are at.

[Coronita]

Oh sh!t never mind. I guess you have to be in a plan with a high deductible for you to qualify.

“An HSA qualified health plan is a health insurance plan with a minimum deductible of $1,150 (single coverage), or $2,300 (family coverage). Maximum annual in-network out-of-pocket expenses are $5,800 (single coverage) or $11,600 (family coverage).”

Second question…Anyone know what happens if you originally qualified because you were in a high deductible plan and than were able to obtain health coverage that wasn’t considered “high”? What happens to your HSA account.

Just trying to do some retirement planning in about 30 years from today. 🙂

This sort of sucks. I wish the U.S. had some tax-advantaged ways to accumulate $$$ for future medical expenses that you could carry around regardless of which employer(s) you are at.

[Coronita]

Oh sh!t never mind. I guess you have to be in a plan with a high deductible for you to qualify.

“An HSA qualified health plan is a health insurance plan with a minimum deductible of $1,150 (single coverage), or $2,300 (family coverage). Maximum annual in-network out-of-pocket expenses are $5,800 (single coverage) or $11,600 (family coverage).”

Second question…Anyone know what happens if you originally qualified because you were in a high deductible plan and than were able to obtain health coverage that wasn’t considered “high”? What happens to your HSA account.

Just trying to do some retirement planning in about 30 years from today. 🙂

This sort of sucks. I wish the U.S. had some tax-advantaged ways to accumulate $$$ for future medical expenses that you could carry around regardless of which employer(s) you are at.

[Coronita]

Oh sh!t never mind. I guess you have to be in a plan with a high deductible for you to qualify.

“An HSA qualified health plan is a health insurance plan with a minimum deductible of $1,150 (single coverage), or $2,300 (family coverage). Maximum annual in-network out-of-pocket expenses are $5,800 (single coverage) or $11,600 (family coverage).”

Second question…Anyone know what happens if you originally qualified because you were in a high deductible plan and than were able to obtain health coverage that wasn’t considered “high”? What happens to your HSA account.

Just trying to do some retirement planning in about 30 years from today. 🙂

This sort of sucks. I wish the U.S. had some tax-advantaged ways to accumulate $$$ for future medical expenses that you could carry around regardless of which employer(s) you are at.

[Coronita]

Oh sh!t never mind. I guess you have to be in a plan with a high deductible for you to qualify.

“An HSA qualified health plan is a health insurance plan with a minimum deductible of $1,150 (single coverage), or $2,300 (family coverage). Maximum annual in-network out-of-pocket expenses are $5,800 (single coverage) or $11,600 (family coverage).”

Second question…Anyone know what happens if you originally qualified because you were in a high deductible plan and than were able to obtain health coverage that wasn’t considered “high”? What happens to your HSA account.

Just trying to do some retirement planning in about 30 years from today. 🙂

This sort of sucks. I wish the U.S. had some tax-advantaged ways to accumulate $$$ for future medical expenses that you could carry around regardless of which employer(s) you are at.

[Coronita]

[quote=UCGal]If you’re young, healthy, and don’t have kids that need period checkups, vaccinations, etc… then they can be a great thing.

If you’re closer to middle age, where the body starts to fail in unexpected ways, or if you have kids that can come up with unusal and creative ways to injure themselves (like when my then 4 year old stuck some beads up his nose…) then you might suck up your entire HSA savings account on the big deductable.

If I were single and in my 20’s or early 30’s I’d seriously consider it. I’m in my late 40’s with small kids – no way I’d do an HSA w/high deductable plan now.

[/quote]

Thanks. I didn’t realize there was a high deductible health plan clause until I read the fine print. Guess I’ll just have to count on Medicare being there. 🙁

[Coronita]

[quote=UCGal]If you’re young, healthy, and don’t have kids that need period checkups, vaccinations, etc… then they can be a great thing.

If you’re closer to middle age, where the body starts to fail in unexpected ways, or if you have kids that can come up with unusal and creative ways to injure themselves (like when my then 4 year old stuck some beads up his nose…) then you might suck up your entire HSA savings account on the big deductable.

If I were single and in my 20’s or early 30’s I’d seriously consider it. I’m in my late 40’s with small kids – no way I’d do an HSA w/high deductable plan now.

[/quote]

Thanks. I didn’t realize there was a high deductible health plan clause until I read the fine print. Guess I’ll just have to count on Medicare being there. 🙁

[Coronita]

[quote=UCGal]If you’re young, healthy, and don’t have kids that need period checkups, vaccinations, etc… then they can be a great thing.

If you’re closer to middle age, where the body starts to fail in unexpected ways, or if you have kids that can come up with unusal and creative ways to injure themselves (like when my then 4 year old stuck some beads up his nose…) then you might suck up your entire HSA savings account on the big deductable.

If I were single and in my 20’s or early 30’s I’d seriously consider it. I’m in my late 40’s with small kids – no way I’d do an HSA w/high deductable plan now.

[/quote]

Thanks. I didn’t realize there was a high deductible health plan clause until I read the fine print. Guess I’ll just have to count on Medicare being there. 🙁

[Coronita]

[quote=UCGal]If you’re young, healthy, and don’t have kids that need period checkups, vaccinations, etc… then they can be a great thing.

If you’re closer to middle age, where the body starts to fail in unexpected ways, or if you have kids that can come up with unusal and creative ways to injure themselves (like when my then 4 year old stuck some beads up his nose…) then you might suck up your entire HSA savings account on the big deductable.

If I were single and in my 20’s or early 30’s I’d seriously consider it. I’m in my late 40’s with small kids – no way I’d do an HSA w/high deductable plan now.

[/quote]

Thanks. I didn’t realize there was a high deductible health plan clause until I read the fine print. Guess I’ll just have to count on Medicare being there. 🙁

[Author]

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