I hope this is appropriate to THIS board - seems like people discuss
pretty general financial questions here ...
Being ER'ed, I have an individual high-deductible health insurance
policy, with an HSA account. (I do contract occasionally, through an
agency for whom I'm a W2 employee, but I'm part-time so ineligible
for their health insurance).
I understamd that the HSA premium ($2K/yr) is deductible, above the
line. But the policy premiums are not deductible, except on Schedule A
(subject to 7.5% AGI exclusion), no ? They can't be a self-employed
health insurance deduction, because I have no Schedule C income ?
Since my income is quite low, the insurance premiums pretty much get
me to 7.5% AGI. So my question is, does it make sense to pay medical
expenses with ordinary after-tax money (savings acc't, whatever) rather
than the HSA account ? They'll be deductible, since the insurance
premiums got past the 7.5% AGI, and meanwhile the HSA gets bigger.
Does this make sense, and is it legal ?
Thanks, John
pretty general financial questions here ...
Being ER'ed, I have an individual high-deductible health insurance
policy, with an HSA account. (I do contract occasionally, through an
agency for whom I'm a W2 employee, but I'm part-time so ineligible
for their health insurance).
I understamd that the HSA premium ($2K/yr) is deductible, above the
line. But the policy premiums are not deductible, except on Schedule A
(subject to 7.5% AGI exclusion), no ? They can't be a self-employed
health insurance deduction, because I have no Schedule C income ?
Since my income is quite low, the insurance premiums pretty much get
me to 7.5% AGI. So my question is, does it make sense to pay medical
expenses with ordinary after-tax money (savings acc't, whatever) rather
than the HSA account ? They'll be deductible, since the insurance
premiums got past the 7.5% AGI, and meanwhile the HSA gets bigger.
Does this make sense, and is it legal ?
Thanks, John