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Old 03-31-2015, 08:15 PM
 
41,111 posts, read 25,642,164 times
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Quote:
Originally Posted by Tominftl View Post
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!
Do you have a clue what we are talking about? Obviously not.
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Old 03-31-2015, 08:16 PM
 
41,111 posts, read 25,642,164 times
Reputation: 13868
Quote:
Originally Posted by greywar View Post
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.
Actually I had an excellent health plan. As for an HSA most poor people don't understand the benefits of an HSA benefits either..
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Old 03-31-2015, 08:16 PM
 
34,274 posts, read 19,293,670 times
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Quote:
Originally Posted by petch751 View Post
Do you have a clue what we are talking about? Obviously not.
Actually the poster does. You made a mistake without understanding the consequences. You could have chosen a joint healthcare policy, and just kept the HSA. Your choice to separate the insurance was your choice.
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Old 03-31-2015, 08:19 PM
 
41,111 posts, read 25,642,164 times
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Quote:
Originally Posted by greywar View Post
Actually the poster does. You made a mistake without understanding the consequences. You could have chosen a joint healthcare policy, and just kept the HSA. Your choice to separate the insurance was your choice.
Yep it was, since I was told that I could roll it over. My bad, for thinking that Obamacare was written for those who plan ahead too. My bad.
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Old 03-31-2015, 08:21 PM
 
34,274 posts, read 19,293,670 times
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Quote:
Originally Posted by petch751 View Post
Yep it was, since I was told that I could roll it over. My bad, for thinking that Obamacare was written for those who plan ahead too. My bad.
So Obamacare told you that...or HSA Bank?

Right.
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Old 03-31-2015, 08:24 PM
 
41,111 posts, read 25,642,164 times
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Anyone with financial savvy know that an HSA is a good financial move. An HSA is even more attractive than an IRA because income goes in tax-free and the earnings are not taxed, so long as you use the money for qualified medical care. If you wait to withdraw the money until you are 65, the HSA is close to functionally equivalent to an IRA. If you don’t think you’ll need retirement money until age 65, or if you plan to have medical expenses in the future (and who doesn’t, these days?), then sticking the maximum amount of money in an HSA can be a savvy financial move. So the money is there if needed for medical expenses and after a certain age, if it's not all is used it's still there but will most likely be used for medical care in the later years... its called planning and "taking care of oneself".

However, HSA money is restricted: If it is not used for medical care, you pay a pretty high penalty until you hit the age limit. And the age limit is higher for an HSA than it is for most retirement money.
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Old 03-31-2015, 08:30 PM
 
3,216 posts, read 2,224,651 times
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Quote:
Originally Posted by petch751 View Post
Anyone with financial savvy know that an HSA is a good financial move. An HSA is even more attractive than an IRA because income goes in tax-free and the earnings are not taxed, so long as you use the money for qualified medical care. If you wait to withdraw the money until you are 65, the HSA is close to functionally equivalent to an IRA. If you don’t think you’ll need retirement money until age 65, or if you plan to have medical expenses in the future (and who doesn’t, these days?), then sticking the maximum amount of money in an HSA can be a savvy financial move. So the money is there if needed for medical expenses and after a certain age, if it's not all is used it's still there but will most likely be used for medical care in the later years... its called planning and "taking care of oneself".

However, HSA money is restricted: If it is not used for medical care, you pay a pretty high penalty until you hit the age limit. And the age limit is higher for an HSA than it is for most retirement money.
Most of the people on this thread, with the exception of greywar, have no idea what a hsa is. They are financially ignorant.

Edit: Although now that I have pointed that out they will use their trusty google skills to look it up, stomp their feet, and say of course they know what a health account is. You can't win with these twits!
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Old 03-31-2015, 08:32 PM
 
41,111 posts, read 25,642,164 times
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Pre-Obamacare with a deductible of $2,500 if I really needed to withdraw for medical care I had the option, I planned on paying out of pocket and saving for later years, post Obamacare and a $5,000 a year deductible, building that HSA account up is even more important.

I don't know how people who can't afford to pay for insurance is going to pay for a $5,000 deductible, are they adding to their HSA while they are healthy?

Last edited by petch751; 03-31-2015 at 09:03 PM..
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Old 03-31-2015, 08:33 PM
 
41,111 posts, read 25,642,164 times
Reputation: 13868
Quote:
Originally Posted by toryturner View Post
Most of the people on this thread, with the exception of greywar, have no idea what a hsa is. They are financially ignorant.
Yea I know, those are the cd members that post fly-by attacks don't have a clue and don't care to educate themselves, they prefer to stay ignorant and wonder why they are poor. Anyone with sense is learning from my mistake of not realizing that Obamacare did not include a provision for rollovers.
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Old 03-31-2015, 08:35 PM
 
41,111 posts, read 25,642,164 times
Reputation: 13868
Quote:
Originally Posted by toryturner View Post

Edit: Although now that I have pointed that out they will use their trusty google skills to look it up, stomp their feet, and say of course they know what a health account is. You can't win with these twits!
LOL, that's the truth lol, kicker is, they won't learn from it, and take advantage of it, they'll learn just enough to "act" as if they have a clue.
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