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Wed Oct 3, 2012, 09:54 AM

Any self-employed out there? Any HSA users?

I have my own consulting business, and need to purchase health insurance. My partner works for/with me.

I think an HSA might be right for us, but I'm a little put off by all the right-wing rhetoric used to promote it, and by the fact that everyone I know who pushes them ends up segueing in a right-wing rant (Note to insurance agents: not all small business operators are Libertarians or Republicans)

Anyone here using an HSA?

My health expenses right now are $0/year. My partner has gum disease and needs non-cosmetic dental implants, so his are substantially higher. We aren't married, but the tax laws are pushing us in that direction.

And yes, I'll be asking an accountant. Just wanted to see if any civilians I knew had any feedback.

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Reply Any self-employed out there? Any HSA users? (Original post)
Patiod Oct 2012 OP
Sedona Oct 2012 #1
Patiod Oct 2012 #3
seabeyond Oct 2012 #2
Patiod Oct 2012 #4
seabeyond Oct 2012 #5

Response to Patiod (Original post)

Wed Oct 3, 2012, 10:45 AM

1. I'm a 50 year old self empolyed Realtor

I have a decent Aetna policy with several pre exisiting conditions for $425 a month and a $2500 deductible, $30 co doctor pays an $20 generic prescriptions. Its not impossible. YMMV depending on your health history of course.

I had an emergency this year that topped $20K and only came $2500 out of pocket. I never in a million years would have had the $20K in a HSA, ever! I didn't have the income to accomplish it.

Talk to a trusted insurance person.

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Response to Sedona (Reply #1)

Wed Oct 3, 2012, 11:29 AM

3. Thanks for the Aetna referral - I'll check that out.

As I read HSAs (and I'm just trying to figure them out) you don't pay ANYTHING for costs that exceed $5000 in a given year.

What looks appealing to me is that you only "lose" your super-low premiums (like $162/mo). Everything else either goes into the HSA (which can function as a retirement savings account if you don't use the funds that year) or goes to health costs (up to $5000). Also, if you have a catastrophe - like a $100K bill, you pay nothing once the $5000 is gone. If your health costs in a year are $5001 or $250,000 - you still pay $5000. But I could be dead wrong.

The problem is, I don't have an insurance person I trust. The guy pushing the HSA was really selling a Libertarian "why should we responsible healthy people pay for those people who are sick because of their own bad habits" line. Yeah, like the 2 people I know with Lupus who have irresponsibly chosen bad DNA. Not a great appeal to me, buddy.

We need to see an accountant this year, so while I'm there, I'll see if he recommends the HSA or not.

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Response to Patiod (Original post)

Wed Oct 3, 2012, 10:52 AM

2. we have one. it is hard for me. hubby likes it. gets the most taken out of check monthly.

there are four of us. it makes it hard for me to go to the doctor because it feels like i am paying. and take the boys in for stuff. we are all pretty healthy so that is the upside. i am getting older though, so for me that makes it more scary.

ours is a 15k deductible.

i have to tell myself what is going into the acct is what would go to the company.

it pays all eye, dental, medical including things like glasses and contacts. that is good.

i still have them send the bill into blue cross (that is the hsa we have) and i will get a lower price than if i just pay thru the card sometimes. i am not really getting why sometimes blue cross takes care of a bit, or if the price just goes down to the insurance cost which is generally lower.

jury is still out for me. i have had it 3 yrs. hasnt hurt me any or cause undue problems.

i am just not comfortable with it. husband is.

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Response to seabeyond (Reply #2)

Wed Oct 3, 2012, 11:41 AM

4. Thank you so much!

I have been dying to hear back from someone who has one, who isn't preaching a political angle.

So many of the people pushing this are Christianist, anti public-school, we-do-everything-ourselves, relying-on-your-neighbor-is-socialism types.

Also, it's tough to believe their evangelical fervor about HSAs. I thought they sounded good, but it's good to hear someone with mixed feelings, which sounds more realistic to me.

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Response to Patiod (Reply #4)

Wed Oct 3, 2012, 12:15 PM

5. lol, i hear ya. i really do. any time it is something held up from repugs....

and ya, the men in my life tend in this direction until they learn otherwise, or see the error to their thinking, and the reality is greed, not for us, lol lol.... i too am skeptic. and after a couple three years, i am still sittin there.

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