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Old 12-09-2011, 03:16 PM   #21
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Very interesting....have never heard that before. I'd shy away too if that's the case.
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Old 12-10-2011, 11:14 AM   #22
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Quote:
Originally Posted by REWahoo View Post
I had a high deductible HSA BC/BS policy until going on Medicare this month. I paid nothing at the time of my appointment and waited until the doc ran the bill through BC/BS to determine the contract rate. The doc then sent me a bill for the approved amount for payment.
I also have had (and continue to have) an individual HD policy, and it's worked the same, whether it was a doctor's visit (Primary or specialist) or even an mRI (a CYA/just in case move which thankfully turned out to be nothing). Just show your card with your current plan info, and they will bill the insurance company, they send you an EOB (the infamous "THIS IS NOT A BILL"/Explanation of Benefits), and you would later be billed direct by the provider with the network rate, and pay the provider direct.

As always, verify beforehand if your provider is in your HDHP network! Same caveats apply whether an HDHP or traditional policy on going to a hospital and being seen by several providers, some of whom may not technically be in the network.

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Originally Posted by Mulligan View Post
Im curious, Travelover, why you dont load up on the maximum amount and let it grow. To me the HSA is an excellent tax deal as it can be used tax free going in AND coming out. Im building mine up to the max and plan to use it tax free for medicare premiums and expenses after 65.
Likewise, I am also doing this, but now I am at a crossroads - I have diligently been socking away the max each year since HSAs first started, and now my balance is over $31k (as it turns out, my HSA account actually had kickass returns over the past few years, compared to my other accounts seesawing all over the place).

Since I'm only 35, and have miniscule healthcare expenditures, I am tempted to continue to put away the max each year for the tax deduction, and just let it ride and take it out at age 65 with simple income taxes (barely earn too much to qualify for a ROTH). However, with my luck, by the time I turn 65, they'll change the tax laws and hit me up with more taxes. So it's a bit of a gamble.

For the other posters at HSA Bank, I also have my account with HSA Bank, which allows you to have an investment account with TD Ameritrade.

Now that I look at the TD Ameritrade account title, it says
HSA BANK AS CUSTODIAN FBO MOOREBONDS

Hmm...hadn't fully realized the implications of that ownership structure. I suppose it could be susceptible to some shenanigans at HSA Bank...my employer just started offering an HSA account, and it's with HSA Bank, so I'll be adding to my contributions through my employer, so I'll be keeping it there for the time being....
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Old 12-10-2011, 12:18 PM   #23
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MooreBonds said : Likewise, I am also doing this, but now I am at a crossroads - I have diligently been socking away the max each year since HSAs first started, and now my balance is over $31k (as it turns out, my HSA account actually had kickass returns over the past few years, compared to my other accounts seesawing all over the place).

Since I'm only 35, and have miniscule healthcare expenditures, I am tempted to continue to put away the max each year for the tax deduction, and just let it ride and take it out at age 65 with simple income taxes (barely earn too much to qualify for a ROTH). However, with my luck, by the time I turn 65, they'll change the tax laws and hit me up with more taxes. So it's a bit of a gamble.

For the other posters at HSA Bank, I also have my account with HSA Bank, which allows you to have an investment account with TD Ameritrade.

Now that I look at the TD Ameritrade account title, it says
HSA BANK AS CUSTODIAN FBO MOOREBONDS

Hmm...hadn't fully realized the implications of that ownership structure. I suppose it could be susceptible to some shenanigans at HSA Bank...my employer just started offering an HSA account, and it's with HSA Bank, so I'll be adding to my contributions through my employer, so I'll be keeping it there for the time being....


Good for you on your nice HSA balances! I know government rules can change but if they dont, you keep this pace up and " health care expenses and medicare premium cost" may not even have to be a budget item for you in retirement. I just got started in HSA's at 45 ( now 47), so Im trying to build from scratch. 2014 Healthcare changes may have impact depending on your HSA plan, so may want to consider fully funding until then, as your opportunity may be limited after that once the rules are all determined. Im sure you know this but keep every reciept that is HSA deductible that you dont immediately use and " cash them in" to avoid taxes when you decide after retirement to pull money out.
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Old 12-11-2011, 05:00 PM   #24
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For those who have HSA's and are interested in the possible changes HSA's may face in 2014, here is a thorough, but readable article. The reason why any changes are not in concrete terms is because the legislation is so broad and sometimes silent on this issue. So regulatory interpretation may determine ultimate outcomes. The article did suggest that repeal is highly unlikely but some legislative changes are possible.

https://www.hsaresources.com/pdf/the...rm-on-hsas.pdf
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