- 6,472
Still thinking about MSAs and this thread, including this post.
Does that 1K average represent provider billing amounts, Medicare approved claim amounts, or some other number?
Lasso MSA
- Thread starter bpenn9
- Start date
Still thinking about MSAs and this thread, including this post.
Does that 1K average represent provider billing amounts, Medicare approved claim amounts, or some other number?
- 6,472
Yes it does. There are at least three different possibilities that number could represent and it's actual basis is important to make correct decisions, as was discussed in prior posts in the thread.
I have been trying to think seriously about your earlier post, your comment here suggests that you don't care about that, rather your primary goal is to attempt to attack and embarrass me, possibly even with made up numbers rather than actual client information as your earlier post suggested.
Look over here..........let me redirect you. ("squirrel")
Don't want to overwhelm a simple mind, so this may be clearer. It doesn't matter what makes up the $1000:
What if I were to tell you the $1000 was for yearly dental expenses (cash price to make it simple). Now does an MSA make sense?
What if the $1000 were all Rx copays on part D drug plan (in network pharmacy, to get ahead of some off the wall question). Don't you have any clients that are in great health, only take 5 meds, and see the Dr twice a year? (no need to answer) Would an MSA makes sense for this person?
Stop trying to label every client a square peg, and thinking that everyone here tries to shove them in a round hole. Last time I checked, few of my clients were in exactly the same health or financial situation, and not all products are suitable for every person.
Don't want to overwhelm a simple mind, so this may be clearer. It doesn't matter what makes up the $1000:
What if I were to tell you the $1000 was for yearly dental expenses (cash price to make it simple). Now does an MSA make sense?
What if the $1000 were all Rx copays on part D drug plan (in network pharmacy, to get ahead of some off the wall question). Don't you have any clients that are in great health, only take 5 meds, and see the Dr twice a year? (no need to answer) Would an MSA makes sense for this person?
Stop trying to label every client a square peg, and thinking that everyone here tries to shove them in a round hole. Last time I checked, few of my clients were in exactly the same health or financial situation, and not all products are suitable for every person.
- 15,319
Do you mind if I continue to suggest that LD take up another hobby. Like asking brain surgeons how they open a skull? Or go in a pilot forum and give advice?
Or simply go away?
The only one here that likes him is Gollum and that’s only because he doesn’t like me. Maybe they could exchange phone numbers.
Rick
- 29,515
I will let some other agent on here teach him what publication 969 is.
And, I post this for others to read so they don't get misinformed by a forum troll.
https://www.cms.gov/Medicare/Health-Plans/MSA/downloads/MSAFactSheet-3-13-08.pdf
Enrollees can use their account to pay for any qualified medical expense, including for non-Medicare expenses. Account withdrawals are not taxed when used for “qualified medical expenses”, as outlined in IRS Publication 969. MSA enrollees need to file Form 1040 and Form 8853 annually to report account withdrawals. Non-Medicare expenses do not count towards the plan deductible.
And, I post this for others to read so they don't get misinformed by a forum troll.
https://www.cms.gov/Medicare/Health-Plans/MSA/downloads/MSAFactSheet-3-13-08.pdf
Enrollees can use their account to pay for any qualified medical expense, including for non-Medicare expenses. Account withdrawals are not taxed when used for “qualified medical expenses”, as outlined in IRS Publication 969. MSA enrollees need to file Form 1040 and Form 8853 annually to report account withdrawals. Non-Medicare expenses do not count towards the plan deductible.
