The IRS Deductions Blog

Posts Tagged ‘hsa’

Question: I already have a Blue Advantage health care plan from Blue Cross Blue Shield of NC, how can I open a HSA?

My wife and I are interested in opening a health savings account in conjunction with our Blue advantage high deductible plan. I was told at signup that this was included, but cannot find information anywhere. Does anyone know how I can sign up for a HSA?

Answer: You have to sign up separately for the actual HSA. It’s offered by most banks and investment companies.

I opened my HSA about 4-years ago. At that time, my broker found a low-cost HSA through American Chartered Bank in IL. When I set it up there was only a $10 fee.

http://www.americanchartered.com/

You don’t have to be anywhere near the bank. I’m in Calif and do all my transactions via snail male.

Items on Amazon Right Now for High Deductible Hsa Plan:

Ditching Traditional Health Insurance for a Health Savings Account Plan [Healthcare]

# healthcare If you’re fed up with your health care provider and think you could manage your medical bills better yourself, a health savings account might be a better option for you and your family. More »

High Deductible Health Plan (HDHP) + Aggregate Wrap Stop Loss Insurance

Question: I have ppo insurance but have difficulty meeting the 20% co- pay for each visit and a 750 deductible?

Were can I find help? I have multiple chronic dieases and am only 22. I am married, no kids, and work about 30 hours a week and am a part time student.

Answer: Your BEST shot will be to find another employer who will offer better health insurance coverage.

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OC examines worker benefits

OCEAN CITY — Ocean City hopes to save about $400,000 a year by making a handful of changes to employee benefits and compensation.

PPO Plans and High Deductible Catastrophic Health Plans

Question: Is childcare FSA tax deductible even if you are over the income cap?

Answer: Yes it is. Just have the director fill out all of the forms and give you a statement. Here you can claim up to $5000 a year.

Items on Amazon Right Now for Fsa Deductible:

INDEMNITIES FROM THE COMPANY

Section 232 of the Companies Act (CA) 2006 allows companies 3 to protect directors by indemnifying 4 them in respect of actions brought by third parties, 5 covering both legal costs and the financial cost of any adverse judgment in a civil action even where the directors are found to have committed a breach (in the absence of any morally culpable behaviour such as dishonesty).

Health Savings Accounts

Question: Electing a high deductible med plan/HSA compatible.. can we discontinue the FSA?

Would this be a qualifying event? Our employees want to cancel the FSA since they can now get a HSA account. Our rep has not gotten back to me and I need an answer asap. Any help is appreciated.

Also, is this a IRS decision or can the Flex spending company decide what they want?
thanks for your answer but they dont want to keep it so I am seeing if we can discontinue it.

Answer: No, it is not a qualifying event. Further, if they have a FSA, they are not eligible to open a Health Savings Account. This means, if they elect the HDHP, and they are already enrolled in a FSA that is not defined as a “limited use” FSA, they will have to pay their out of pocket expenses from the FSA, and open a Health Savings Account in 2010. The FSA plan document would need to specifically state that is for post-Deductible Expenses, and othe QME not covered by the Group Health Insurance plan.

Regualtions are from the IRS, not the plan administrator.

Items on Amazon Right Now for High Deductible Fsa:

Kopyc: Health Savings Accounts offer you tax breaks and more

Why do people open up Health Savings Accounts in tandem with high-deductible insurance plans? Well, here are some of the compelling reasons why younger, healthier employees decide to have HSAs.

Health Savings Accounts

Question: medical bill from high deductible plan in collections?

I have a $6000+ medical bill with a high deductible plan. The amount that I needed to pay to the dr was approx $2000 in order to meet the deductible. I confirmed with the insurance co that they sent a writ advising that they should only be charging the $2000. The dr office did not seem to understand the concept of the high deductible plan at all. I was advised that their billing of the insurance company was simply a courtesy and that 6000 was due. I pretty much just got tired of arguing with them and asked to put it on a payment plan just to be sure that it did not get sent to collections. They advised me that a payment plan had been set up. I then received another $6000 bill from them. I went ahead and sent a $200 payment from my HSA and notated on the bill that I had set up a payment plan. They proceeded to charge the $200 and then sent the $6000 bill to collections. I have no intention of paying any more than the 2000 I genuinely owe. Do I have any recourse here?

Answer: The doctor’s office will be charging YOU in full, if they don’t get paid by your insurance.

You need to stop arguing with the doctor, and go ask your INSURANCE company why they didn’t pay the $4,000.

You have NO recourse with the doctor’s office – legally, YOU are on the hook for all medical procedures that you had. The collection agency will take this to court and win, and garnish your wages and seize your assets, to get paid.

Your beef is with the insurance company. WHY didn’t they pay? Whose fault is it?

The doctor has NO obligation to even bill the insurance company for ANYTHING. Ultimately, it’s up to YOU to make sure everyone does what they’re supposed to do, in a timely manner.

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City considers switch to HSA plan

City council’s finance committee is considering switching to a health savings account plan for all city employees.

HSA Plans – The mysterious High Deductible Health Plan