Health Savings Accounts

[Sassy]

Does anyone have a HSA? How do you qualify for one? Is this something your employer has to set up? Is there a certain kind of insurance that you have to have to qualify for it?

I've been on the government's site HSA FREQUENTLY ASKED QUESTIONS trying to understand how this works.

Anyone have any experience with HSA's?

[bigdho]

Hey Just go to your local insurance Co......State Farm has really good HSA accounts and they will be more then happy to explain how they work and set on up for you.

[Sassy]

That's what is confusing. Let me get this straight. You have to have a certain kind of insurance to open an account. That figures.

My insurance premiums at work are high enough. I can't afford more. Unfortunately most of the doctors in this town aren't on our network. Heck, the hospital isn't even on our network. Our insurance sucks all around, but I guess it's better than nothing at all.

[Pekkerwood]

Sassy:

I have a HSA. I set it up where I have my self-directed IRA's at WWW.Trustetc.com. I actually invest the money in my HSA. For me it functions as an additional IRA.

You do have to have a special insurance. Mine is Blue Cross/Blue Shield. The common thread with the insurances offerings is that the dedutibles are pretty high. I think the minimum dedutible was $1800 for mine. BTW I actually pay for my insurance out of pocket and leave the money in the HSA to invest.


Pekkerwood

[Sassy]

I think I was reading somewhere that the deductible has to be over $1,100, so that put me out. We have Blue Cross at work, but our deductibles are right at $1,000. Crap... I can't win for loosing.

We are still waiting to hear if the company I work for has been sold or not. If it has been sold, we're all waiting to hear if we have jobs or not. This will be good info if I have to end up betting my own insurance.

Thanks, Pekkerwood for that website. I'm afraid Everlast and I are going to have to do something soon. He's self-employed and is currently on my insurance.

[lilgoldberg]

Awesome, I never knew that about 10facts about health - thanks for sharing

[Sassy]

The company I work for was just bought out by one of our competitors. They are offering a Flexible Health Care Savings account. I'm giving it a try. There is a list of things you can use it for including OTC medicine and doctors co-pay.