Obamacare May Be Making Health Savings Accounts More Popular

What type of Health Insurance Plan do you have?

  • Traditional Copay

    Votes: 4 28.6%
  • Health Savings Account

    Votes: 9 64.3%
  • None

    Votes: 1 7.1%

  • Total voters
    14
Obamacare may be making health savings accounts more popular - MarketWatch

A good article about HSA's and the increased contribution limits.

For the 2015 tax year, you can make a deductible HSA contribution of up to $3,350 if you have qualifying self-only coverage or up to $6,650 if you have qualifying family coverage (anything other than self-only). For 2014, the magic numbers are $3,300 and $6,550, respectively. If you are age 55 or older as of yearend, the maximum deductible contribution goes up by $1,000.

and the article mostly talks about how people have gotten inferior coverage since Obamacare started and a possible way to offset that is through the tax advantages of the HSA.

Also wanted to create this poll to see what everyone here on the forum has. I myself have an HSA with no coinsurance (hate those bastardized coinsurance HSA plans). Answers are anonymous...
 
Remember: MOOP on ACA is tied to MOOP on HSA's.

http://www.businessinsurance.com/ar...ccount-contribution-limits?tags=|62|67|74|307

Benefits Legislation & Regulation Consumer-driven Health Plans Health Care Benefits Benefits Management Health Care Costs

The maximum contributions that can be made to health savings accounts in 2016 will increase $100 for families, but remain unchanged for individuals.

The Internal Revenue Service announced Monday that the maximum contribution that can be made next year to an HSA linked to a high-deductible plan will be $6,750 for employees with family coverage, up from $6,650, while the maximum contribution for those with single coverage will remain at $3,350.

However, maximum out-of-pocket expenses will increase in 2016 for both categories.

Maximum out-of-pocket employee expense, including deductibles, will rise $100 next year to $6,550 for single coverage, and increase $200 next year to $13,100 for family coverage.

For 2016, a high-deductible health plan is defined as a one with an annual deductible of least $1,300 for self-only coverage and $2,600 for family coverage.

Increases in the HSA limits, which are detailed in Revenue Procedure 2015-30, are tied to changes in the cost of living.
 
I don't know why an HSA account can be made available to work with any health insurance plan not just HSA plans. For example I have a plan with copays and I sure would like to have an HSA account but this is against IRS regulations does anybody agree with me on this or am I just not thinking correctly.
I have out of country medical expenses and I sure would like to use an HSA account.
 
I don't know why an HSA account can be made available to work with any health insurance plan not just HSA plans. For example I have a plan with copays and I sure would like to have an HSA account but this is against IRS regulations does anybody agree with me on this or am I just not thinking correctly.
I have out of country medical expenses and I sure would like to use an HSA account.

HSA's were created to spur more consumerism and price transparency. You have no incentive to "shop" when you have a set "copay".

Should everyone be able to tax deduct all out of pocket costs for health care......maybe. But then again, where do you draw the line?
 
HSAs used to be better than copays in my state. They were better if you never used the plan and better if you maxed out the plan. The only time the copay plan was better was in a situation where you went to the doctor many times per year. I sold a bunch of HSAs back then, many of those GF plans are still going strong. Post ACA, I rarely sell them...
 
At that fpl , they should be buying c.s.r silver plan which is not h.s.a eligible. Moot point. Plus, no tax advantages at that tax bracket
 
Funny Mark!
I would tell my clients before ACA that HSAs were the future of health care. Having for "skin" in the game made the client pay more attention to costs. Now that many of my self employed clients can adjust their incomes and get nice silver plans, cost control goes out the window.
 
Depends on the tax bracket IMO.

We have what I would consider to be "moderate" network issues On-Exchange. The ability to write off non-network expenses is also a draw.
 
Funny Mark!
I would tell my clients before ACA that HSAs were the future of health care. Having for "skin" in the game made the client pay more attention to costs. Now that many of my self employed clients can adjust their incomes and get nice silver plans, cost control goes out the window.

Please tell me how to adjust my income to get a "nice silver plan".
 
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