tag:blogger.com,1999:blog-4876327247533458481.post8110066132521949561..comments2023-11-03T03:19:01.419-07:00Comments on Working for Rachel: Health Care for Independent People: Part 1Unknownnoreply@blogger.comBlogger5125tag:blogger.com,1999:blog-4876327247533458481.post-22237955740328036322008-04-18T12:17:00.000-07:002008-04-18T12:17:00.000-07:00HSAs are not like Roth IRA's - contributions can b...HSAs are not like Roth IRA's - contributions can be made pretax or are tax deductible. As long as they are spent on qualified medical expenses you never pay taxes on them. Contributions grow tax free. If you use them for nonmedical expenses you pay income taxes on them and a 10% penalty. After 65 or if you're disabled money can be withdrawn for non-medical purposes without penalty - but you still pay income taxes. If you use it for medical - it remains tax free.smarief99https://www.blogger.com/profile/05092520467266823099noreply@blogger.comtag:blogger.com,1999:blog-4876327247533458481.post-20301402777717910692008-04-18T04:03:00.000-07:002008-04-18T04:03:00.000-07:00Looking forward to part II.Looking forward to part II.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4876327247533458481.post-51355897593365069692008-04-17T10:29:00.000-07:002008-04-17T10:29:00.000-07:00Are you sure about the HSA?I have had one for abou...Are you sure about the HSA?<BR/><BR/>I have had one for about 2 years now. You actually put the money in pretax, AND withdraw it without tax. No taxes, ever.<BR/><BR/>It is a pretty good deal, but you have to have a high deductible plan to be eligible. Also, current offerings don't offer much as far as interest rates go and fees seems to be a little high. I imagine if they become more popular the fees will become more competitive.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4876327247533458481.post-21470898580100944622008-04-17T06:16:00.000-07:002008-04-17T06:16:00.000-07:00Having to factor in health care costs makes early ...Having to factor in health care costs makes early retirement much more complicated. We take that for granted in Canada where medical treatment is free for everyone. The only thing we need to consider is extended health coverage for non-essential prescriptions, physiotherapy, etc. I agree with Elizabeth that self-insuring for extended health is the way to go.juliehttps://www.blogger.com/profile/01627205404277862601noreply@blogger.comtag:blogger.com,1999:blog-4876327247533458481.post-6233787259602759332008-04-17T02:24:00.000-07:002008-04-17T02:24:00.000-07:00It's maddening. I figured out that with a $5000 d...It's maddening. I figured out that with a $5000 deductible I could go under $100 a month in premiums, but I'm not on any maintenance meds. And that's not even half of it--where would I come up with an extra $5000 a year if, God forbid, I got sick? It'd wind up being put on a payment plan, I guess. Hospitals at least do that, but I don't know about doctors' offices.<BR/><BR/>I'm low-income enough to qualify for Medicaid but my experience with them is that they want to save money even more than HMOs do, so chances are good they'd skip over doing something that would have helped me, and who cares anyway because I'm broke. Kind of sad.Dana Seilhanhttps://www.blogger.com/profile/11749354913843954242noreply@blogger.com