Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Healthcare Budgeting, HSA Funding
Old 11-30-2019, 01:09 PM   #1
Recycles dryer sheets
 
Join Date: Feb 2019
Posts: 98
Healthcare Budgeting, HSA Funding

I am considering retirement in the next 2 years and want to consider healthcare costs until DW and I reach 65.

I've looked at Healthcare.gov to find ACA plans for me and DW.

I would pay $0/month for HSA eligible HDHP, with ~13k Deductible and 13k max out of pocket with $60k income.

My annual expenses (including taxes) are ~53k. This does not include ACA costs. I have ~18k saved in an HSA.

I will be drawing heavily from my 401k until I start SS in a few years.

If I contribute 8k to an HSA is that amount excluded from ACA income?

How does everyone budget for healthcare costs? Can I count on ACA (or modified but similar plan) over the next 9 years?
__________________

Born2Fish is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-30-2019, 01:40 PM   #2
Thinks s/he gets paid by the post
walkinwood's Avatar
 
Join Date: Jul 2006
Location: Denver
Posts: 3,091
Quote:
Originally Posted by Born2Fish View Post

If I contribute 8k to an HSA is that amount excluded from ACA income?
Yes, it is deducted from your income. Pay attention to the HSA limits.

Quote:
How does everyone budget for healthcare costs? Can I count on ACA (or modified but similar plan) over the next 9 years?
I lump it all together in one big annual budget. Since our budget is modestly above what we spend, it works for us.

There is no way to know what will happen in 2021 and beyond. I am assuming that ACA or some variation continues to be available till medicare kicks in.
walkinwood is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Initial Funding of HSA account ArkTinkerer Health and Early Retirement 3 06-10-2015 08:53 AM
Healthcare budgeting for ER? valueplayer Health and Early Retirement 8 05-07-2015 03:30 PM
budgeting for healthcare costs simple girl Health and Early Retirement 31 02-06-2015 12:24 PM
2014 HSA funding deadline? BarbWire Health and Early Retirement 9 12-31-2014 10:15 AM
Funding HSA for 2010 Financial Question not in anyway a political statement fisherman FIRE and Money 4 07-31-2010 11:09 AM

» Quick Links

 
All times are GMT -6. The time now is 06:24 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
×