Tax Relief and Health Care Act of 2006
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[email protected] said:
Yea, read a newspaper.
Here is a link to the bill itself.
http://www.house.gov/jct/x-50-06.pdf
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[email protected] said:
Yea, you got a problem with that? Plus with some creativity more then 50% could benefit from it. Look, exactly what portion of the US population has IRA's in place, I think its over 50%.
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[email protected] said:
To fund the HSA....
The good news about the bill is the ability to shelter more income from taxes. I see nominal growth from rollovers of HRA, FSA or IRA money.
I haven't seen numbers in a while, but my recollection is, somewhere around 80% of HSA's have less than $1000 in them and most have $0. About 2 - 3% of those eligible for HSA's have purchased the plans so when you factor in the unfunded & under-funded HSA's, I dont see this as a windfall.
What I like in addition to lifting the cap and allowing you to fund beyond the deductible is the ability to make full year contributions for partial year plans.
HSA funds can be used to pay LTC premiums, cover uninsured expenses such as dental & vision. I don't see folks rushing to use these as an alternative to, or adjunct to IRA's.
I haven't seen numbers in a while, but my recollection is, somewhere around 80% of HSA's have less than $1000 in them and most have $0. About 2 - 3% of those eligible for HSA's have purchased the plans so when you factor in the unfunded & under-funded HSA's, I dont see this as a windfall.
What I like in addition to lifting the cap and allowing you to fund beyond the deductible is the ability to make full year contributions for partial year plans.
HSA funds can be used to pay LTC premiums, cover uninsured expenses such as dental & vision. I don't see folks rushing to use these as an alternative to, or adjunct to IRA's.
- 14,808
Let's not forget that the poor in this country have free healthcare - it's called Medicaid. In my state, even people who are 200% ABOVE the federal poverty level get state health insurance. The county also provides health services for people who meet certain income criteria. That's my taxes going to pay for their free health care, then I have to pay for my own. So I'm not too concerned for the poor. They are very well taken care of in this country.
Everyone bashes "the rich" and upper middle class because it's not PC to agree that these are the people who busted their asses to make something of themselves. I'm for all the tax breaks in the world to people who don't suck off the sytem.
Everyone bashes "the rich" and upper middle class because it's not PC to agree that these are the people who busted their asses to make something of themselves. I'm for all the tax breaks in the world to people who don't suck off the sytem.
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