HSA in 2014?

[chasesfish]

Have any rules or guidance been released showing whether or not there will be HDHPs next year? If not, what becomes of my nice HSA Account I've built up? I know the first thing that went into effect is the penalty is now 20%

 

[Mulligan]

Another poster in a previous thread stated that IRS doesn't give limits until late April for the following year. Hopefully it will carry on as is plus an inflation increase. Since high deductibles will be on the new menu (though mostly lower amounts) I don't see why they will not be allowed, and The Act itself did not terminate HSA's either.

 

[chasesfish]

I wasn't sure if HDHPs would even be on the government approved "menu".

 

[MichaelB]

HSA should continue at current levels. HHS recently released final rules regarding maximum OOP costs and they are consistent with the deductibles associated ith current HSA plans. See here Feds Outline What Insurers Must Cover, Down To Polyp Removal – Capsules - The KHN Blog

Edit to add: the second part of the question, what becomes of the funds in an HSA account - they continue to grow tax free and can be used for qualified medical expenses, or invested.

 

[Mulligan]

I wasn't sure if HDHPs would even be on the government approved "menu".

Not in the present form we have now. The "medical loss ratio" mandates may muck HSA's up if I understand it correctly, so the situation concerning HSA's is still fluid. I am trying to be optimistic though, especially short term.

 

[Mulligan]

HSA should continue at current levels. HHS recently released final rules regarding maximum OOP costs and they are consistent with the deductibles associated ith current HSA plans. See here Feds Outline What Insurers Must Cover, Down To Polyp Removal – Capsules - The KHN Blog

I enjoyed the comments section. Porky would have been forced into action if they were posted here.

 

[MichaelB]

I enjoyed the comments section. Porky would have been forced into action if they were posted here.

I've never read the comments after the news at KFF. I just read the article and move on. Saw your post and looked at them, and probably won't read them again. Some people really need to get a life.

Just in case, my comment is not at all directed toward you.

 

[REWahoo]

Reading the comments section of just about any website is often analogous to popping the top off a septic tank and having a look.

 

[MichaelB]

Reading the comments section of just about any website is often analogous to popping the top off a septic tank and having a look.

Ewww. Reminds me of the audio forums back in the day ('00). Discussions involving amplifiers or speakers often fell into scatological terms to describe other people's equipment or hearing ability. I left them behind because of that.