GOP's Plan- Who is Actually Going to Place $$ into these Health Savings Accounts?

I am confused. Tax Credits available upfront for HSA's. They call them refundable which is exactly like the Earned Income Tax Credit where low income people are actually given cash money

So would the IRS be putting cash money directly into someone's bank acct (HSA) account?

Rand Pauls HealthCare plan- He gives an example of how you can use that actual cash money (I assume) to shop around for lower prices. Such as lasik surgery. How prices go down when savvy consumers are shopping for themselves. This is not the GOP's plan but everyone is aligned with the fact they want to offer "refundable" irs tax credits. How that is actually implemented by the indigent has yet to be discussed. Are HDHP involved?? Its quite vague. Thanks
 
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OutdoorsyGirl, are you FFM certified? We need a frame of reference in order to answer your question(s).
:skeptical:
 
Hi Allen
We undergo alot of extensive training. I work for the Indian Health Service.
IHS is an agency within Health and Human Services responsible for providing Federal Health Services to American Indians and Alaska Natives

We accept private health insurance plans
 
https://drive.google.com/file/d/0B-l2X1eoKRdTVm5wOWhEY3l6aUk/view?usp=sharing
or you can see 2 large spreadsheets with numbers. You don't need to calculate, that insurance becomes unaffordable again. They talk about HSA, but there wouldn't be money left for saving. Like this 2017th: one reasonable HSA offer only (in my area). Carriers like BC started to avoid HSA products. I am not talking that all products in the bronze level were overpriced based on offering nothing before deductible. Preventive care can't ruin them for sure. I suppose you were able to see the two spread sheets at the upper right corner (see the link below).
Tax Credits under the Affordable Care Act vs. the American Health Care Act: An Interactive Map | The Henry J. Kaiser Family Foundation

DuPage, IL, single, 60 y old , 30k MAGI should pay $3,880 more. For HSA bronze, the subsidy now is $6,000. Same person with $75k MAGI will take $4,000 tax credit. I hope, I am wrong. So, Mr. Ryan can't convince me at all.
 
The plan as it exists currently will assure that exactly 0 carriers will offer plans. No business will sell a finished product for less than raw materials cost. No underwriting assure adverse selection. Adverse selection assures high premiums. The ability to jump off the plan then back on makes even higher claims from adverse selection unpredictable. High and increasing and unpredictable means none will play. The only question is how long will it take or will anything significant change?

I hope so and expect not.

Pinche Trump
 
The only way I see HSA to apply, is if you take its tax credit upfront, or minimize your tax burden at the end of the year, and give the money for a premium.
Example: If I pay $3600 for taxes, but based on HSA I am taking, IRS knows that I will have tax deduction for $3,500, and gives me upfront additional discount of how much? $600-$700, so instead of paying $3,800 for my premiums, I will pay $3,100? Also, I will still unable to save effectively this money.
The difference obviously is insignificant.
Before ACA they were giving Credit Cards in case you are with HSA, but can't save money to meet your high deductible. What will happen now? Any idea about details?
 
@ARus: as my German teacher used to say, es macht nicht.

A HDHP means nothing to those without money. They will go back to no coverage. Carriers will bail. Underwriting will be back. Repubs are already spouting the line "if they drop coverage even after those so generous (but too small to be useful) tax credits, it's their own fault." Those with money love HSAs because that is the lowest total cost when paying claims and premium.

There are already underwritten plans available. They are like the old days and 1/2 priced compared to ACA plans. Farm Bureau in TN. It is a trust product and neither FB or UHC is really on the hook. They underwrite down to a gnat's ass and can start another competing trust any time claims make them uncompetitive. Current trust of course would crash.

Wash and rinse and start again.
 
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Thank you Everyone for your input!

I am sorry. I totally forgot about this thread

Being new, i was not in the habit of logging in yet.

Won't happen again


ARus thank you for the graph, very helpful.

I apologize, this is a new forum and I didn’t write down my login name then got busy


As we know, the GOP Healthcare plan failed

Rinse and Repeat as junkman said

And I agree that for low income people, this is un-usable as they’d have no money going into the HSA to be able to spend on healthcare.

We need something like these Medicare Medicare plans (which are only offered in a few select states)

https://www.medicare.gov/Pubs/pdf/11206.pdf

For our Native American population, due to the Medicaid Expansion, about 35-40% of our lower income people are back to work. Sort of a by-product of the extra money diverted to our diabetes program. Forcing them to participate in exercise programs, many chose to get jobs doing manual labor and loosing weight. Most continue to work out via their employment. They are now paying into the system. Really a good investment for the taxpayers. Now if we could force non-natives to exercise and teach them to eat right, we could make the medicaid program very effective for very little tax payer money.

But this is not politically correct for non-natives.
 
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I have an obese acquaintance whose husband is also obese. Both are diabetic and he has what is likely self-induced liver failure. They are avid church goers and pray for healing while drinking massive amounts of diet cokes and eating honey buns.

I'm fine with going to church and praying but think eating whole foods is more likely to heal them than waiting for a miracle. Grandma used to say "every pot sits on its own bottom." That appears to be the case here.
 
I have an obese acquaintance whose husband is also obese. Both are diabetic and he has what is likely self-induced liver failure. They are avid church goers and pray for healing while drinking massive amounts of diet cokes and eating honey buns.

I'm fine with going to church and praying but think eating whole foods is more likely to heal them than waiting for a miracle. Grandma used to say "every pot sits on its own bottom." That appears to be the case here.

From someone that comes from a very unhealthy family, and was personally very unhealthy for a long time, it's quite likely they have no clue.

3500 calories in a pound of fat, a honey bun is roughly 700cal. If you eat a honeybun a day, and stop, you'll lose 50lbs in a year doing nothing else. When you put it in context like that, people often understand just how destructive their diets are.

For reference, 1.5-2L of soda per day has the same effect.
 
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