The IRS Deductions Blog

Posts Tagged ‘obama’

Question: Is this insurance fraud?

I was involved in a hit and run last week. The driver hit me and reversed and went right around me. I called the police and they told me they couldnt do anything bc no one stopped to be a witness and i had no description of the car other than it being a small black car. My bumper, headlight, and right fender is all messed up. Now, i had a previous claim with my insurance about another accident. The only damage i sustained was a very small crack on the bumper (same area as the the hit and run impact). The claim was never closed for whatever reason, even after i told the examiner i didn want to pay my deductible and it wasnt worth repairing a small crack (I eventually fixed the crack myself). Now my insurance (Geico) thinks im committing insurance fraud bc i never got the small crack fixed through them and now i want them to fix the hit and run damage. I mean the hit and run damage is over 1000 dollars to fix now.

Answer: You walk right down to the police station, and file a hit and run report in person. The cop you talked to was being lazy, and just didn’t want to file the report. You NEED to file that report. It completely legitimizes your claim.

The way you describe it, Geico isn’t “on the hook” for the old damage, only the new damage. It doesn’t matter that YOU “fixed” it yourself. You can’t superglue or bondo a bumper. If the estimate for the new damage is “replace the bumper”, and the estimate for the old damage was “replace the bumper”, you actually HAVE no new damage, you still have to replace the bumper. After you show geico a receipt for the new bumper, any MORE bumper damage will then start being covered again.

Not fraud. Just common sense.

Items on Amazon Right Now for Insurance Fraud Deductible:

Contractors Waiving Deductibles is Illegal for Them and You

Question: I have a question about my hsa (health savings account) that I have with my job?

I’m contributing $500 to the account and my company is putting in $1200. Is all of that money available right away? I’m asking because I just found out I’m pregnant and after I went to my first dr appt I got a letter in the mail stating I have to pay them $2400 (my deductible I think) by the end of May. I of course dont have that and want to know if I can use my money in the hsa right away.

Answer: You may use the money in your HSA right away.
Before paying the $2400 though, I would check with your insurance company to see if the $2400 is the, “allowed amount.” In other words, is the $2400 the negotiated rate approved by the insurance company, assuming you are seeing an in-network provider.

Items on Amazon Right Now for Health Savings Accounts Deductibles:

NDL Benefits – Health Savings Account – June 2011

Items on Amazon Right Now for Hsa Deductibles 2009:

Health Insurance Rates: eHealth, Inc. Provides Update on Average Premiums for Individual and Family Policies

MOUNTAIN VIEW, CA–(Marketwire – 09/20/10) – eHealth, Inc. (NASDAQ: EHTH – News ), parent company of eHealthInsurance ( http://www.ehealthinsurance.com ), today released updated data on the cost of individually-purchased health insurance policies for individuals and families. The data is based on policies that were active in February 2010. The findings appear in 2010 …

Health Insurance Wilmington NC – What is a Health Savings Account?

Question: Which 5 Freedoms would You Lose in Health Care Reform? Yahoo news.?

5 Freedoms You’d Lose in Health Care Reform

http://finance.yahoo.com/insurance/article/107408/5-freedoms-you-would-lose-in-health-care-reform.html?mod=insurance-health

1. Freedom to choose what’s in your plan
2. Freedom to be rewarded for healthy living, or pay your real costs
3. Freedom to choose high-deductible coverage
4. Freedom to keep your existing plan
5. Freedom to choose your doctors

Freedom must be preserved in Health Care.

Answer: I don’t know what coverage you have but I have never been given those freedoms in any of my plans anyway. Seriously, how many of you really get to pick what your plan covers, or do you just accept what your employer gives you and de3al with it? How many of you have the same exact amount taken our of your pay check as every other employee? How many of you have really ever gotten to choose what the deductible is or again do you just take what the employer offers? How many of you can pick whatever doctor you want or do you have to pick from a list of insurance approved in network doctors?

Items on Amazon Right Now for Health Care Reform Deductibles:

Insurers push plans that limit health choices

As the Obama administration begins to enact the new national health care law, the country’s biggest insurers are promoting affordable plans with reduced premiums that require participants to use a narrower selection of doctors or hospitals.

Pros & Cons of the Health Care Reform Bill

Items on Amazon Right Now for Mortgage Interest Tax Deduction Obama:

Time to pay the piper: would you sacrifice your mortgage deduction to the national debt?

It was, for decades, the true third rail of politics: while raising taxes is never popular, nor politically wise, talking about scaling back or eliminating the tax deduction that homeowners get for paying interest on mortgages is as taboo as it gets.

First Time Home Buyer Tax Credit Program, FHA Mortgage, Fixed Interest Rate Loan