[Hidden-tech] Looking for answers to health savings account questions

Terran Birrell terranrb at gmail.com
Fri Dec 5 18:36:51 EST 2014


It may be that the plans offered by your wife's company are not eligible
for an HSA. You need to have a very specific kind of high deductible health
insurance plan to be eligible. Here's some info about what sort of plan you
would need to have:
http://www.irs.gov/publications/p969/ar02.html#en_US_2013_publink1000204025

Also, it seems like most HSA accounts are held by banks that do only that
(at least those are the options with the plan we signed up of this year). I
don't think most banks offer HSA's. Here's an example of one such HSA-only
bank: http://www.hsabank.com/

On Fri, Dec 5, 2014 at 4:59 PM, Andy Klapper <andytk at charter.net> wrote:

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> Does anybody know of a resource I can talk to about health savings
> accounts?  The bank is unwilling or unable to answer any questions and my
> situation is not vanilla but probably not that unusual either.
>
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> Background – health savings accounts allow you to save money tax free for
> medical expenses.  Unlike a FLEX spending plan money saved in a health
> savings account can be rolled over year after year.
>
>
>
> Normally a self-employed person like myself would get a cheap large
> deductible healthcare plan and couple that with a health savings account to
> cover things like flu shots and doctor’s visits.
>
>
>
> I already have insurance through my wife however but her plan doesn’t
> provide health savings accounts only FLEX spending plans.  My main reason
> for wanting such an account is because I’m thinking about some elective
> medical expenses next year but will not have a dollar figure before my wife
> has to lock in her FLEX amount.  Given that FLEX plans are use it or lose
> it setting it too high means lots of contacts and glasses at the end of the
> year to burn through left over money and setting it too low is a loss of
> tax savings.
>
>
>
> I am hoping that I can set up a health savings plan in January when I do
> know the amount.  There are many questions that I need answered and I’d
> rather not get an accountant for a questions that could be a simple, yes I
> can or no I cannot.  In fact I’m hoping that some resource for the
> self-employed, government or private, will be able to help me determine
> what is and what is not possible.
>
>
>
> So has anybody else been in my situation before or know of somebody I can
> call to get a couple of questions answered?
>
>
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>
>
> Andy.
>
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> Andy Klapper
>
> Asgard Technology Group, LLC
>
> Making Complex Software Simple
>
> High Speed Multi-Threading Specialists
>
> 5 Anna Marie Lane
>
> East Longmeadow, MA 01028
>
> Andy at Asgard-Tech.com
>
> (860) 805-1189 (cell)
>
>
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