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Reply #6: Yeah - you'd have to know you were going to have a health issue come up [View All]

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gollygee Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-03-07 10:49 AM
Response to Reply #5
6. Yeah - you'd have to know you were going to have a health issue come up
and then know how much it would be, because these are "use it or lose it" accounts. If you don't need the money by the end of the year, you're SOL. I swear they're probably partially in place to force people to use up the money - "Hey, I could use another pair of glasses! Or maybe I'll get that LASIK surgery - after all, I have to use up the money in my HSA or it'll be lost!"
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  -"Health Savings Accounts" - WTF Good Are They? K8-EEE  Apr-03-07 10:43 AM   #0 
  - They are nothing like insurance  gollygee   Apr-03-07 10:46 AM   #1 
  - Arguing over the crumbs...  warren pease   Apr-03-07 12:36 PM   #83 
     - I agree  gollygee   Apr-03-07 02:03 PM   #115 
  - It's just another way to give a tax dodge to people that need places to hide money.  Nickster   Apr-03-07 10:46 AM   #2 
  - It came in really handy for us.  RC Quake   Apr-03-07 11:02 AM   #30 
  - well, good thing for you that you have that kind of money coming in  ComerPerro   Apr-03-07 11:46 AM   #71 
  - Too bad you lose the money if you don't use it.  Show_Me _The_Truth   Apr-03-07 11:07 AM   #34 
     - Actually, an HSA lets you carry the money over, but it's not a good deal if  Lydia Leftcoast   Apr-03-07 11:10 AM   #42 
     - Okay then I'll add a  Show_Me _The_Truth   Apr-03-07 01:37 PM   #108 
     - Thats a Flex Account, not a HSA.  newportdadde   Apr-03-07 12:28 PM   #81 
  - They are great for mutual funds and banks ...  antigop   Apr-03-07 10:47 AM   #3 
  - Hmmm. Republican ideas almost always spring forth  truedelphi   Apr-03-07 03:32 PM   #126 
  - They are not a replacement for insurance, but can help.  uppityperson   Apr-03-07 10:47 AM   #4 
  - Yep.  Gormy Cuss   Apr-03-07 10:50 AM   #9 
  - Many companies are forcing their employees to use them  liberal N proud   Apr-03-07 10:47 AM   #5 
  - Yeah - you'd have to know you were going to have a health issue come up  gollygee   Apr-03-07 10:49 AM   #6 
  - I don't think that is correct.....  antigop   Apr-03-07 10:50 AM   #10 
  - Oh well then I've been confused too  gollygee   Apr-03-07 10:51 AM   #13 
  - What our company is using they are calling an HSA  liberal N proud   Apr-03-07 10:52 AM   #18 
  - HSAs can roll over from year to year  antigop   Apr-03-07 10:54 AM   #21 
     - I used to work for a company that offered what they called HSAs  Lasher   Apr-03-07 11:10 AM   # 
     - Yes, I think at some companies they were misnamed ----  antigop   Apr-03-07 11:13 AM   #46 
     - Dupe  Lasher   Apr-03-07 11:11 AM   #44 
     - no, MSAs rollover  northzax   Apr-03-07 01:34 PM   #107 
        - Please read the following...................  antigop   Apr-03-07 01:58 PM   #112 
  - you are correct. It is a high deductable health insurance policy.  ourbluenation   Apr-03-07 10:55 AM   #24 
  - it's a good problem to have, not needing to dip into the HSA money  renate   Apr-03-07 10:51 AM   #14 
  - So 75% of those who opened health savings accounts are INSURED?  jobycom   Apr-03-07 10:49 AM   #7 
  - the idea is catastrophic coverage (high deductable, low monthly  salin   Apr-03-07 10:52 AM   #16 
  - Exactly n/t  antigop   Apr-03-07 10:55 AM   #22 
  - And the premium isn't that low  Lydia Leftcoast   Apr-03-07 11:00 AM   #28 
  - Contemporary Insurance Companies = Modern Robber Barons  salin   Apr-03-07 11:02 AM   #29 
  - Instead of regular co-pay type insurance or in addition?  jobycom   Apr-03-07 11:04 AM   #32 
     - bushco are trying to push this as in place of regular insurance  salin   Apr-03-07 11:22 AM   #54 
        - But, but, but...  mentalsolstice   Apr-03-07 12:16 PM   #79 
        - he OWNS contemporary irony. the master of irony.  salin   Apr-03-07 02:24 PM   #117 
        - Also, a replacement for Medicare, imo n/t  antigop   Apr-03-07 01:01 PM   #89 
           - If they can - they will...  salin   Apr-03-07 02:26 PM   #120 
  - You have to be insured to open an HSA.  Arkansas Granny   Apr-03-07 11:06 AM   #33 
  - Then what did Bush mean when he said 25% were uninsured?  jobycom   Apr-03-07 11:15 AM   #49 
     - Who knows what he meant. I had checked on a HSA for myself  Arkansas Granny   Apr-03-07 11:25 AM   #55 
  - yeah, its kind of a way of asking insurance companies to pay less  ComerPerro   Apr-03-07 11:47 AM   # 
  - Eventually instead of offering health insurance companies will  Skink   Apr-03-07 10:49 AM   #8 
  - Fees. And collect lots of fees. Wonderful, for the banking lobby. nt  donkeyotay   Apr-03-07 10:55 AM   #25 
     - Exactly -- see reply #10. Also insurance companies benefit from high-deductible policies n/t  antigop   Apr-03-07 10:57 AM   #26 
     - No fees, as long as the bank already has your business  DemReadingDU   Apr-03-07 01:56 PM   #111 
        - depends on the around n/t  antigop   Apr-03-07 01:59 PM   #113 
  - They are an IRA you can use in an emergency  TechBear_Seattle   Apr-03-07 10:51 AM   #11 
  - hr manager here....  ourbluenation   Apr-03-07 10:51 AM   #12 
  - They surly help the institutions holding your money  havocmom   Apr-03-07 10:52 AM   #15 
  - we had one last year....just a scam to make whopping deductibles look palatable...  blitzen   Apr-03-07 10:52 AM   #17 
  - It is the beginnings of a shift from defined benefit healthcare to defined contribution  antigop   Apr-03-07 10:53 AM   #19 
  - Exactly right, antigop  Lasher   Apr-03-07 11:25 AM   #56 
     - Also, establish a "replacement plan" for Medicare n/t  antigop   Apr-03-07 01:02 PM   #90 
     - More info in post #100 below...... n/t  antigop   Apr-03-07 01:18 PM   #101 
  - Our company was given no choice from our insurance provider.  Hong Kong Cavalier   Apr-03-07 10:54 AM   #20 
  - Translation  Warpy   Apr-03-07 10:55 AM   #23 
  - Exactly to the reality line of this for many. It will benefit only those of  The Wielding Truth   Apr-03-07 02:25 PM   #119 
  - Here's how it actually works: (I investigated and rejected the option)  Lydia Leftcoast   Apr-03-07 10:58 AM   #27 
  - Still think universal coverage is a bad idea?  Skink   Apr-03-07 11:07 AM   #35 
  - Glad to hear that, because I know enough about other countries' systems  Lydia Leftcoast   Apr-03-07 11:08 AM   #39 
  - Dh's employer offers them as well  missb   Apr-03-07 11:08 AM   #38 
  - Ours is with a high-deductible plan ($5,000/yr indiv, $7,500/family).  fifthgendem   Apr-03-07 06:38 PM   #134 
  - Our employer pays the monthly contribution. The problem is that the employee  ourbluenation   Apr-03-07 11:10 AM   #41 
  - In our area, the HSA policy was lots cheaper  DemReadingDU   Apr-03-07 02:06 PM   #116 
  - My opinion -- this is the GOP plan to destroy Medicare  antigop   Apr-03-07 11:03 AM   #31 
  - But Medicare would NOT be in such bad shape if  Lydia Leftcoast   Apr-03-07 11:07 AM   #37 
  - Absolutely! No argument from me. But the GOP needs a "replacement" for Medicare...  antigop   Apr-03-07 11:09 AM   #40 
  - I agree, Medicare is in horrible shape, worse than SS  DemReadingDU   Apr-03-07 02:24 PM   #118 
  - it is a joke from the Elitist WH and their cabel  rodeodance   Apr-03-07 11:07 AM   #36 
  - Here is what I tell people -- I'll believe health savings accounts are a good idea when...  antigop   Apr-03-07 11:11 AM   #43 
  - Bush needs a crash course on HSA's. He is putting out false  Arkansas Granny   Apr-03-07 11:11 AM   #45 
  - I've contributed the max into mine for the last two years  RGBolen   Apr-03-07 11:14 AM   #47 
  - They are not a great deal for many people  antigop   Apr-03-07 11:17 AM   #51 
  - Our employer makes the contribution on behalf of the employee.  ourbluenation   Apr-03-07 11:33 AM   #60 
     - Yes, some companies make the contribution on behalf of the employee  antigop   Apr-03-07 12:56 PM   #87 
  - This assumes an income that allows you to pay an unexpected $5000  Lydia Leftcoast   Apr-03-07 11:20 AM   #52 
  - the money for the deductable is in the HSA  RGBolen   Apr-03-07 11:27 AM   #57 
     - Yes, which still assumes the ability to set aside $400+ every month  Lydia Leftcoast   Apr-03-07 11:39 AM   #65 
        - I've just made my contribution into it once a year  RGBolen   Apr-03-07 11:43 AM   #70 
           - Right, which means you have $5000 lying around ready to put in  Lydia Leftcoast   Apr-03-07 12:06 PM   #78 
  - Same here  DemReadingDU   Apr-03-07 02:28 PM   #121 
  - Very interesting responses here.....  K8-EEE   Apr-03-07 11:14 AM   #48 
  - I think HSA's are a good option for young people who's employer makes the monthly contribution  ourbluenation   Apr-03-07 11:37 AM   #63 
  - NO, NO, NO -- you need the healthy people to help subsidize the less healthy  antigop   Apr-03-07 01:04 PM   #92 
     - Technically...  Vulture   Apr-03-07 01:31 PM   #106 
        - Methinks you need to do some more reading..................... n/t  antigop   Apr-03-07 02:01 PM   #114 
        - You some good points  gravity   Apr-03-07 06:51 PM   #135 
  - Ssssh! Don't give them ideas!  Lydia Leftcoast   Apr-03-07 11:40 AM   #67 
  - I'm glad you asked that question  Lasher   Apr-03-07 11:56 AM   #75 
     - You get it, Lasher! But also think "Medicare replacement" n/t  antigop   Apr-03-07 01:05 PM   #93 
  - There is in fact already a similar thing now. My wife and I use it and it is effective.  DuaneBidoux   Apr-03-07 11:17 AM   #50 
  - that's a FSA not a HSA  RGBolen   Apr-03-07 11:33 AM   #61 
     - I know that...but the principle is virtually identical.  DuaneBidoux   Apr-03-07 02:42 PM   #123 
  - Good info from website -- PLEASE READ  antigop   Apr-03-07 11:22 AM   #53 
  - Thanks for this...  K8-EEE   Apr-03-07 12:51 PM   #85 
     - Health savings account are part of the GOP agenda -- it's right there on the GOP website  antigop   Apr-03-07 01:00 PM   #88 
  - They are a good distraction.  endarkenment   Apr-03-07 11:29 AM   #58 
  - Then keep taking more and more away  Lasher   Apr-03-07 01:03 PM   #91 
     - BINGO! I'll try to dig up an article n/t  antigop   Apr-03-07 01:06 PM   #94 
     - Found it -- it's FAS106 -- Ellen Schultz from WSJ  antigop   Apr-03-07 01:08 PM   #97 
        - Ellen has done a lot of good work reporting this type of thing  Lasher   Apr-03-07 03:25 PM   #124 
  - $50,000 and you are elderly: hip replacements, knee replacements,  jwirr   Apr-03-07 11:32 AM   #59 
  - It's not meant for that. It's a supplemental to a regular insurance policy.  ourbluenation   Apr-03-07 11:38 AM   #64 
     - And if *ss manages to destroy medicare? He wants to replace all  jwirr   Apr-03-07 11:49 AM   #73 
     - Did you know you're supposed to retire with an extra $200,000  K8-EEE   Apr-03-07 12:49 PM   #84 
     - But the insurance policy has to be high-deductible n/.t  antigop   Apr-03-07 01:19 PM   #102 
     - And I don't think their entire "plan" has unfolded yet  antigop   Apr-03-07 01:21 PM   #103 
  - They are a blessing--but I'd rather have a single payer health care system instead.  blondeatlast   Apr-03-07 11:33 AM   #62 
  - Imagine you're a young couple with a new baby...  Cassandra   Apr-03-07 11:40 AM   #66 
  - True, the best advice is "don't get sick and don't have sick kids!"  K8-EEE   Apr-03-07 12:00 PM   #76 
  - I have one.  qwlauren35   Apr-03-07 11:42 AM   #68 
  - Ask Bill Richardson; he is a big supporter of health savings accounts.  Czolgosz   Apr-03-07 11:42 AM   #69 
  - Bill who?  Lasher   Apr-03-07 03:53 PM   #129 
     - If you think that's bad, you should see Bill DINO's defense of Abu Gonzales:  Czolgosz   Apr-03-07 04:10 PM   #131 
        - Bogotry takes on many forms  Lasher   Apr-03-07 04:21 PM   #132 
           - There are LOTS of reasons why Richardson ranks with Hillary on my least favorite candidate list (but  Czolgosz   Apr-03-07 04:38 PM   #133 
  - If you have kids and can estimate their HC costs ( in our case it's dental + braces)  mod mom   Apr-03-07 11:47 AM   #72 
  - No, no, no--that's not an HSA  Lydia Leftcoast   Apr-03-07 12:05 PM   #77 
     - I believe you are technically correct but I think the terms have become interchangeable  Lasher   Apr-03-07 04:04 PM   #130 
  - Big Pharma gets bigger. nt  valerief   Apr-03-07 11:56 AM   #74 
  - Recommend - and ask others to do the same  salin   Apr-03-07 12:26 PM   #80 
  - I wouldn't mind  Dorian Gray   Apr-03-07 12:32 PM   #82 
  - K&R  Hubert Flottz   Apr-03-07 12:56 PM   #86 
  - Everyone - Flex Savings Accounts and Health Savings Accounts are not the same.  newportdadde   Apr-03-07 01:07 PM   #95 
  - By the time I'm 45, my prescriptions alone will have cost over 1.5 million dollars.  kiahzero   Apr-03-07 01:07 PM   #96 
  - A brief overview of the flaws of health savings accounts  antigop   Apr-03-07 01:13 PM   #98 
  - I Have One Simple Question  Yavin4   Apr-03-07 01:16 PM   #99 
  - Another great article from the CBPP -- it describes the "plan"  antigop   Apr-03-07 01:17 PM   #100 
  - Worthy of an OP, methinks (EOM)  Lasher   Apr-03-07 02:38 PM   #122 
  - HSAs are good for people who are young & rich & don't get sick.  baldguy   Apr-03-07 01:23 PM   #104 
  - Great article by Krugman -- Medical Class Warfare--describes problems with HSAs  antigop   Apr-03-07 01:25 PM   #105 
  - Payroll/Benefits Administrator here  REACTIVATED IN CT   Apr-03-07 01:46 PM   #109 
  - HDSA/HSAs can also be used to destroy existing traditional employer-provided healthcare  Lasher   Apr-03-07 03:31 PM   #125 
  - Like most repuke programs, it does nothing for the ones most needing help.  Sapere aude   Apr-03-07 01:54 PM   #110 
  - No damn good at all.  bunkerbuster1   Apr-03-07 03:34 PM   #127 
  - Glad to see this made the greatest page  Lasher   Apr-03-07 03:35 PM   #128 
  - It's like your county property tax office writing you a big fat check--  eridani   Apr-04-07 02:42 AM   #136 

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