Most people have NO idea the variations of consequences.Quote:
Originally Posted by BPTactical
Typical idiot gun owner that votes (D) -Quote:
Oh I didn't think he'd really ban my guns.
Printable View
Most people have NO idea the variations of consequences.Quote:
Originally Posted by BPTactical
Typical idiot gun owner that votes (D) -Quote:
Oh I didn't think he'd really ban my guns.
What's the advantage of an HSA over just having a savings account you squirrel some money away into? Don't you have to spend whats in your HSA by the end of the year or you lose it? I'd think losing it once would offset any tax advantage one gets.
Flex spending account is the one where you must spend every year. Health Savings Account you fund tax deferred every year ($6,900 for family, $5,500 for individual?) And the money stays there. With mine I keep like $3,500 liquid, and it puts the rest into some sort of Vanguard type deal. You can fund every year and it continues to build. Anything left in there converts to an IRA of some type at a certain age. Also, say you pay any medical expenses year after year in cash, as long as you keep it all well documented, you can take X amount of tax free money out of your account at any time, in any year. X being equal to whatever amount you can prove you've spent on medical stuff.
So while I generally fall into the category of not having $6-$10k floating around for deductibles, after two years I'm not that guy anymore and I got to lower my taxable income at the same time.
I'm sure some of that needs tweaking on accuracy, but that is the just.
I am being crushed by my health insurance. It costs me 50% more than my rent every month. And that is after my employer's contribution. The congress of commies truly screwed this country over when they passed this law.
What's next? No religious activities in public spaces, no smoking in your home unless your home is designated non-smoking by the landlord, water rationing, gas rationing, food rationing, ammo rationing, tattooed ID on your arm or mandatory microchip implants or you can't participate in society?
We are soooo screwed as a nation and even as I try to do my part to make it better, I am ignored and marginalized by the political elite, told that I am scum because I treasure freedom.
OK, rant over, got a little carried away there.
When I withdraw money, it just goes into whatever account I have set up in a day or two. In the example of my medical bills, I just paid them on a credit card, then paid the credit card when the money came in. That means I also get 1% cash back on that card. This was a shitty year so I'll lose more than that 1% to interest, as will most people, but when you have your act together, it works out pretty well.
As far as record keeping. I try to take a picture of bills with my cell and use CamScan app to download as a PDF. Then you can have a medical expenses folder for each calendar year and keep copies in the cloud and on your external hard drive.
In July my insurance increased 178.00 a month. Not a notice or nothing.
Government, Lawyers, and Insurance,
Are the three things that people do not need.
-John
We went with Medi-Share recently. 1/5th of what insurance would have cost us.
My research shows that Medi-Share is the only health sharing program that works like a PPO, so there are in network doctors that have pre-discounted prices and bill Medi-Share directly. There were plenty of doctors in our area, and our current ones were even already in the plan.
Medi-Share also doesn’t have any tiers for coverage, and no maximum limit that they will pay. There are different monthly amounts based on what you want your family deductible to be.
We have only used it once for a medication refill. They technically don’t cover meds until you meet your deductible, but they give you a savings card for meds, glasses, etc. We used at our normal pharmacy and the scrip went from 94 bucks to 12....
Everyone I know that’s on it loves it, and my doctor said the same thing when I asked her.