What is Your Own Family Enrolled In?

[TxOnline]

You can catch up anytime BEFORE you file your 2015 Federal Tax Return (before April 15th).

 

[Yagents]

Correct, April 15th (just like an IRA), but you must make sure the bank custodian allocates / credits it as a 2015 prior year contribution (put year on the check).

Doing it by 12/31/15 eliminates this chance for reporting errors

 

[HoosierLife]

Correct, April 15th (just like an IRA), but you must make sure the bank custodian allocates / credits it as a 2015 prior year contribution (put year on the check). Doing it by 12/31/15 eliminates this chance for reporting errors

Well how would we contribute so that it doesn't get taxed? Or would we just add it and it will get fixed at tax time?

 

[TxOnline]

It's a write-off on your tax return....on page 1....near the bottom of page.

As Y explained somewhere else, it lowers MAGI (for those who might want to use it to get an ACA Tax Credit).

 

[wow314]

Has anyone used or know any thing about medishare? Seems to be an ok option but not sure.

 

[G.Gordon]

AnnH,

The premium cost outweighs the tax savings for a one month HSA contribution. We have until 4/2016 to finish off 2015's funding, that is our plan.

 

[kstein]

How/where do you show the deduction in health Sherpa. Say person is going to have 25k of magi and brings in 30k. They are then going to put 5k into an hsa. How have people been showing this on health Sherpa? Just put in 25k?

 

[HoosierLife]

Has anyone used or know any thing about medishare? Seems to be an ok option but not sure.

My Preacher has it. He has 6 kids too. Kicking himself he never did it sooner. He's saving the difference from what he was paying for health ins in a 401k.

It's definitely a much healthier risk pool. No smoking, drinking, licentious behavior. A letter from a pastor stating that they are active in church etc.

Obviously you have to pay out of pocket for dr visits and what not. I have seriously looked into myself. If my wife stays home at some point it would save me more than $15,000 a year.

 

[pcbinsurance]

My Preacher has it. He has 6 kids too. Kicking himself he never did it sooner. He's saving the difference from what he was paying for health ins in a 401k.

It's definitely a much healthier risk pool. No smoking, drinking, licentious behavior. A letter from a pastor stating that they are active in church etc.

Obviously you have to pay out of pocket for dr visits and what not. I have seriously looked into myself. If my wife stays home at some point it would save me more than $15,000 a year.

**************

I think history has shown this to not always being true.

:bump:

 

[HoosierLife]

************** I think history has shown this to not always being true. :bump:

I'm sure you're right, but I would more willing to insure their risk pool then the average public.