Hsa Question

May 16, 2008

  1. Go Green
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    Go Green Expert

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    Hello everyone. I would appreciate any help in regards to explaining to the client how an hsa works with prescriptions. What are the normal discounts, reimbursements, and is the discount applied at time of purchase. I am looking for a more polished explanation than what I am currently rambling on about. Any help is greatly appreciated. Thanks to all.
     
    Go Green, May 16, 2008
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  2. STIBROKER
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    STIBROKER Like My post and enter the DRAWING,,,, Moderator

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    pays a ppo discount that goes against the deductible.....
     
  3. The Rabbi
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    An HSA is an opportunity for health concious
    families to save money on their health care costs. This is accomplished by only insuring the higher risk and saving the difference in a tax deferred account. This account comes with a debit card with which you pay for everything related to your health care, up to the deductible. At the point at which the WHOLE family reaches the deductible, the plan pays the rest if it is a 100% plan. There are 80/20 also. The HSA is an IRA-type account and they can add up to the deductible every year and it rolls over. It becomes another retirement account. Can't have too many. Some people will fund the account right away by transferring money from another tax-qualified account.
    :cool:
     
  4. moonlightandmargaritas
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  5. rawannam
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    Almost, Individuals are allowed 2900.00 and families get 5800.00, it goes up to 3000.00 for individuals in 2009 and 5950.00 for families. I wish it was up to my deductable, more savings for me!

    Damn, beat by a margarita! Must be friday!!!
     
    Last edited: May 16, 2008
    rawannam, May 16, 2008
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  6. NewHealthStrategies
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    Don'r forget the $900 catch-up provision if you're 55 or older.... brings the $2,900 to $3,800 PER PERSON if you sell them as individuals..... pretty strong as that is an above the line deduction!
     
  7. STIBROKER
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    STIBROKER Like My post and enter the DRAWING,,,, Moderator

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    why would anyone want to tie up money in a HSA account is beyond me.....
     
  8. Stonewall
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    I agree Sti, but where would you put it?
     
  9. moonlightandmargaritas
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    Hehehe...kinda like whole life insurance on kids is beyond me...
     
  10. Delta76
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    Delta76 Guru

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    why would anyone want to tie up money in a HSA account is beyond me.....

    I do for a portion of my money. It works like an IRA (except waiting to age 65) and when it gets there I can use it tax free to pay my medicare and out of pocket expenses, plus LTC. There isn't another source where I won't pay any income taxes ever on that money. Those are given expenses. As far as where the money goes within the HSA wrapper, that's up to me.
     
    Delta76, May 16, 2008
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