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Still berating people. Thanks for supporting my opinion.
You are not impervious to disaster. Hopefully, if you ever need help, others won't be as selfish and hateful as you are to them.
Nope, I know rainy days always come that's why I plan for them. That's what a responsible person does. Unfortunately we have weak people, entitlement minded people who won't do that then expect everyone else to bail them out. Don't like it? Dare say something, those weak will attack you as if you're taking a binky from a baby. Then again, maybe we are.. taking the binky from the entitled, lord knows they can't do it like a grown up.
As I stated before Petch, why bother when most on this thread are benefiting from subsidies paid by others. They will never see a downside to Obamacare because they benefit with very little financial outlay. The entitled attitude is stunning.
Yep, As we see from posts on cd, they'll defend what they view as their entitlement till no end.
For those who have grown children raiding you to bail them out, it is important that you discontinue constant financial “babying” of adult children. Cut the financial cord and stop trying to forever fund the lives of helpless adult children.
So lets get back to the facts. Or I'm supposed to shush and not tell anyone about their HSA and planning for the future. Just praise Obamacare.
At least if someone here is considering separating insurance accounts for what ever reason as I did and they have been contributing to an HSA account I've let them know about it.
I wonder... what happens when a couple divorces (both insured under the same policy and contributing to the same HSA account attached to that policy, if they do not stay insured together, when an HSA is split, that money will be a distribution (taxed) and the other will start out with $0.00 in their HSA account. People starting out should take this into consideration. Maybe get separate insurance policies and HSA accounts from the beginning. Hopefully it won't cost them an arm and a leg to do that.
I am actually ok with the having to buy insurance and that set up bc I think everyone should be able to get insurance. The problem I have is the 5 figure tax increase that has come with it.
Yeah you assumed it, but its not a unreasonable assumption in my opinion. So your problem isn't Obamacare- these laws were in place way way before Obamacare.
Suggestion-ask them about taking a taxable distribution of 2K (or whatever the max yearly contribution is), then within 60 days placing that into your own HSA. You wont start at 0, but rather at the max for the year, and can rebalance that way. Ask them specifically about if that would avoid being taxed on it. I believe it would be, but you should always consult with a professional beforehand.
Also my apologies, this was more complex then I had first assumed.
Uhm, you don't think I asked them about rolling it directly into my HSA? Really? Depositing it in and showing the matching deposit? Really?
The answer is NO, they can't, it's the IRS rule and Obamacare did not take this into account and write in provisions. If you withdrawal for purposes to put into your own account, even if it is proved, it will still viewed as a distribution with tax consequences. Putting it into my account will prevent me from adding this years.
Can't wait to find out what else we have to see is in it.
So lets get back to the facts. Or I'm supposed to shush and not tell anyone about their HSA and planning for the future. Just praise Obamacare.
At least if someone here is considering separating insurance accounts for what ever reason as I did and they have been contributing to an HSA account I've let them know about it.
I wonder... what happens when a couple divorces (both insured under the same policy and contributing to the same HSA account attached to that policy, if they do not stay insured together, when an HSA is split, that money will be a distribution (taxed) and the other will start out with $0.00 in their HSA account. People starting out should take this into consideration. Maybe get separate insurance policies and HSA accounts from the beginning. Hopefully it won't cost them an arm and a leg to do that.
Hmm...divorce would probably end up with one side getting a partial disbursement, and putting the max into their account within the 60 days allowed by law-thus not starting at 0. But still possibly eating the tax cost. Divorce can be expensive in a lot of surprising ways.
No idea how large your HSA is, but given that you were trying to offset having a bad health plan, it was probably significant. Which is kind of painful.
Again, if you are just starting out and going to be smart enough to contribute to an HSA, take all this into consideration. If you end up divorced and one demands the withdrawal of their contribution, you'll have tax consequences.
So tired of hearing these republicans CRY! I know, blame Obama for all of your problems!
Cause we all know the Republicans know everything! yes, they're so good at handling things!
Hmm...divorce would probably end up with one side getting a partial disbursement, and putting the max into their account within the 60 days allowed by law-thus not starting at 0. But still possibly eating the tax cost. Divorce can be expensive in a lot of surprising ways.
No idea how large your HSA is, but given that you were trying to offset having a bad health plan, it was probably significant. Which is kind of painful.
Yep you would think that Obamacare would include provisions to allow a roll over but it doesn't. Even if the IRS doesn't consider it a distribution and allows you to roll it into your own account, the new account holder loses that years contribution. That's two problems right there.
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