The IRS Deductions Blog

Posts Tagged ‘hsa’

Question: Does anyone know what ppo health insurances don’t have no deductible and no coinsurance ?

I’ve been looking for a good affordable health insurance cuz the doctor I need to see only takes ppo insurances :/ can someone give me a list of insurance that have no deductible and no coinsurance ? Please ! Help

Answer: I have Blue Cross/Blue Shield PPO. My deductible (per family member) is $400 a year. After that, we pay $20 to see a doctor, $30 for a specialist. $250 for emergency room visits. This is just the Co-pay. After the insurance pays their 80%, we still have 20% to pay.

This is one of the best insurances to have, I believe. I have never had any trouble with them (Oh, except once when I had a root canal and the dentist didn’t tell me I was over my annual dentist coverage until AFTER the procedure. But even then it wasn’t the insurance’s fault).

BCBS covers ALL my mom’s meds, and she takes 2K worth of meds each month.

It isn’t cheap, but it is very good.

Items on Amazon Right Now for Deductible Ppo:

Hitler is pissed off at his health insurance provider

Question: Do you think we should nationalize healthcare?pro’s and Cons?

pros:
-cheaper healthcare
cons:
-less coverage than your original health care
-a deductible of 20% when your original cheaper AARP deductible, is about 60%
-You do not have the privelage of choosing your own doctor
-once the healthcare reform is passed they will raise the price of their health care to an all time high
-you sign on to the helathcare reform bill with a contract that raises annualy, but it just so happens they are in dire need of money and need to raise your bill
-you recieve less treatment than your original plan, and do not recieve the same coverage that your AARP plan covers

Enough of the pros and cons what are your thoughts on this, liberals and conservatives welcome : )

Answer: No !!!!!

http://www.economicpolicyjournal.com/2009/07/whats-in-healthacre-bill.html

Items on Amazon Right Now for High Deductible Health Care Reform:

MSNBC (11-26-10) – Why We Need Health Care Reform – Sky-High Deductibles Force Painful Choices

Question: Can I get a health savings account to pay my out of pocket expenses for dental treatment?

Everything I have read says that I need to have a High Deductible Health Plan to be eligible. but I have a good health insurance plan that is not high deductible. Also I have a good dental plan, however my dental treatment (qualified under HSA) will cost me several thousand dollars over my coverage limit. Is there a way to get and use an HSA account to cover these expenses?
and if I am self employed or running a small business can I set up an FSA for myself?

Answer: No. You can check at work to see if your employer offers a tax deferred Health Spending Account. This type plan allows you to put aside cash to cover health expenses that are not covered by insurance. The advantage is the expenses are then tax free.

But you can not use an Health Savings Account if you have other insurance. It must be your only coverage.

Items on Amazon Right Now for High Deductible Health Plans Hsa:

PBAPresents – Understanding Employer Sponsored HSAs – Part 3

Question: Right HSA amount for tax savings?

For a married person with annual salary 100K (deductions = 5), what should be the ideal amount to be put in HSA (flexible spending account)?

Next year’s premiums has increased considerably and am trying to see if by contributing to a HSA (employer sponsored) can save me some money.

Appreciate your thoughts!
Its FSA and not HSA.

Answer: The “ideal” amount is whatever you expect to spend on eligible medical care. Only you are in a position to know what your expenditures might be. Anything left in the account at the end of the year is lost. And any expenditures over and above the amount that you put in get no benefit from the tax free status of the deposits.

Items on Amazon Right Now for Tax Deduction Hsa:

HSA for S Corp Owner – TaxMama.com

Question: Can a TSA be rolled into a high-deductible HSA like BCBS BlueEdge HSA? Are there any penalties-what and how $?

I have a TSA from work that my employer no longer supports. It has been sitting in-limbo for about a year as I can no longer easily add money to it. My employer is offering a high-deductible HSA as a health insurance option and if allowable I would like to roll all or at least part of the TSA money into the HSA. I have approx. $11,000 in what I think is a Hartford 403(b). I have to let my employer know if I want to switch to the HSA by Dec. 16th, so I kinda need to know most of the answers before then. If I can’t roll the TSA over, I don’t know that I am as interested in the HSA? I am also a little leary about making a change with our idiot Congress screwing with health care. Is there any reason I should wait? Any help with my questions would be greatly appreciated.

Answer: A TSA (transportation spending account???) cannot be rolled into an HSA.

Only an IRA is eligible.

Items on Amazon Right Now for High Deductible Hsa:

PayFlex® Receives IRS Approval as a Non-Bank Custodian for its HSA Solution

PayFlex Systems USA, Inc., a leading technology enabled solutions provider for employee benefit programs, today announced that it has been approved by the Internal Revenue Service to serve as a non-bank custodian and trustee for Health Savings Accounts and other accounts which are required to be held only by IRS-approved custodians.

High Deductible Health Insurance and Health Savings Accounts Explanation