Have 87-94% CSR? No HSA Contribution

[Yagents]

Why don't you find an agent in Ohio to refer those to? Maybe Chumps?

 

[Justin Bilyj]

Pretty significant and something that was in the back of my mind but should have been in the front.

https://plus.google.com/113850113394303787022/posts/Sd4eq9EvTA6



Yet another explanation published this morning although quite simple. The guy who wrote it is no doubt a simpleton.

This explained it better for me thank you.

New question, what if they forgo the subsidy, but claim it as an end of the year tax credit, especially for those concerned about the clawback? Would that negate any hsa benefits or contributions throughout the year?

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Why don't you find an agent in Ohio to refer those to? Maybe Chumps?

Nahhh he's a Miami fan.

 

[Yagents]

Really????????????????

 

[Justin Bilyj]

Don't be a dick, this place is for learning, Im asking questions, if you don't want to answer the questions just don't...

 

[Yagents]

If you don't do exchange business, I guess it really doesn't matter.

I'll let someone else answer the question........I'm sure sweet Ann will step in for you. She usually cleans up my messes.

 

[timsip]

This explained it better for me thank you.

New question, what if they forgo the subsidy, but claim it as an end of the year tax credit, especially for those concerned about the clawback? Would that negate any hsa benefits or contributions throughout the year?

Let's use small words....This discussion has absolutely zero, zilch, nada, bupkiss to do with premium subsidies. Ergo, any discussion on end of year versus tax credit or clawbacks is completely irrelevant.

Cost Sharing Reduction credits are applied to specific plans that reduce (wait for it) Cost Sharing! Nothing to do with clawbacks. Clawbacks don't apply (not yet, but I know someone with a phone and a pen), taking the CSR credits has nothing to do with end of year.

It would be safe for us to assume you would know by your self promotion as a health insurance agent, that premiums have nothing to do with establishing a plan to be HSA qualified. Do not bring up premiums in this thread again if you really want to learn.

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Back to the topic at hand, I know there have been discussions (not sure if here, or other forums I prowl on) regarding this very issue. This is important to know, so thank you, YAgents for posting this. I am meeting a client on Thursday that has her AGI down below $20K now. Without this, I may have given her bad advice.

This news, of course does not change her ability to use existing HSA funds for out of pocket medical expenses, correct?

 

[Yagents]

This news, of course does not change her ability to use existing HSA funds for out of pocket medical expenses, correct?

Correct, it only affects NEW contributions.

Maybe I should start calling you Sweet Tim, with a little "tude"

 

[timsip]

Correct, it only affects NEW contributions.

Maybe I should start calling you Sweet Tim, with a little "tude"

I've been called worse by better!

 

[somarco]

qualify for a CSR plan, probably don't have the money to put into an HSA

Could also be those who have a lot of assets but little to no income. Seems like Health Guy has an abundance of those folks.

 

[Ann H]

When I ran into this situation before, I called Yagents to confirm. Yagents is the king of HSAs. He's right. If your CSR reduces the deductible and out-of-pocket below the minimum level required by the IRS rules for HSAs, you cannot make current contributions into an HSA fund.