HSA Accounts

But then I have "Cadillac" insurance too, so it is very effective in cutting costs for my family. The only issue I have with it is the "use it or lose it" that they force on us.
 
Damocles said:
But then I have "Cadillac" insurance too, so it is very effective in cutting costs for my family. The only issue I have with it is the "use it or lose it" that they force on us.
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Unused funds in the account—to date some $30 million or about $2,000 per employee and growing fast—are the worker's permanent property.
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I think that you are confusing the HSA system, developed under the Bush Administration, with the Medical Savings Account system that was developed during the Clinton Administration and indeed would take your money that you did not spend.
 
Southern Man said:
I think that you are confusing the HSA system, developed under the Bush Administration, with the Medical Savings Account system that was developed during the Clinton Administration and indeed would take your money that you did not spend.
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Well, they take my money and it sucks. I would use it to cut back on coverage, thus it would create real savings if I could use it effectively.

Of course we have no other option than Cadillac insurance as well.
 
Damocles said:
But then I have "Cadillac" insurance too, so it is very effective in cutting costs for my family. The only issue I have with it is the "use it or lose it" that they force on us.
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Use it or lose it? Are you talking about the Flex Bene or the HSA? The HSA cannot be use it or lose it. The Flex can.
 
HSA are great for some people and not very good at all for others. They are a good option under the current system but they aren't the answer.
 
Superfreak said:
Use it or lose it? Are you talking about the Flex Bene or the HSA? The HSA cannot be use it or lose it. The Flex can.
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Clearly I was talking about what is available here. They call it an "HSA" but you lose it if you don't use it by the end of the year. What most do is buy a bunch of over the counter medication or go to the eye doctor at the end of the year to use it up.
 
HSA would make sense if the problem were that we get too much healthcare and we need to ration it some more. But that's not the problem.

As it is, HSA's are a cost-cutting tool for corporations so that they can pretend they have health benefits while fucking over their workers even more.
 
NigelTufnel said:
HSA are great for some people and not very good at all for others. They are a good option under the current system but they aren't the answer.
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While they may not be good for some (predominantly those with a pre-existing condition that will eat up their deductible every year), they are good for the majority. The op-ed highlighted the number of employees using the HSA format.

That said, no one is saying they are the sole answer. But it is a way to reduce costs for the bulk of the people. Then you can worry about subsidizing those who they wouldn't work for rather than trying to revamp the entire system. Get back to the way things were prior to the insane increases in health care costs.

Get back to where people are more accountable rather than simply tossing down small co pays and not paying attention to the costs.
 
TheKingOfCarrotFlowers said:
HSA would make sense if the problem were that we get too much healthcare and we need to ration it some more. But that's not the problem.

As it is, HSA's are a cost-cutting tool for corporations so that they can pretend they have health benefits while fucking over their workers even more.
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Wrong emo boy.

HSA's, like any other plan, have a max out of pocket. The difference is in WHEN the out of pocket occurs. The max out of pocket can be adjusted by the individual as they tailor a plan to fit their needs.

The other benefit is that as you contribute to the HSA savings account, the money grows tax free and can be rolled over from one year to the next. The money can also be invested to get it to potentially grow for you.
 
Damocles said:
Clearly I was talking about what is available here. They call it an "HSA" but you lose it if you don't use it by the end of the year. What most do is buy a bunch of over the counter medication or go to the eye doctor at the end of the year to use it up.
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Then you HR head is a tool. :)

Those are medical flex accounts. I have no idea why they were made so that the individual cannot role those amounts over.
 
Superfreak said:
Then you HR head is a tool. :)

Those are medical flex accounts. I have no idea why they were made so that the individual cannot role those amounts over.
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They suck. They rule if you have a planned bill that isn't covered by insurance, like eye surgery. Next year I'm using it to get my eyes fixed finally. You can use the whole thing right away while they take out of each check for the whole year. That will make it so that at the end of this year I can set it up, then have it to use for eye surgery next year without crippling our budget.
 
Superfreak said:
While they may not be good for some (predominantly those with a pre-existing condition that will eat up their deductible every year), they are good for the majority. The op-ed highlighted the number of employees using the HSA format.

That said, no one is saying they are the sole answer. But it is a way to reduce costs for the bulk of the people. Then you can worry about subsidizing those who they wouldn't work for rather than trying to revamp the entire system. Get back to the way things were prior to the insane increases in health care costs.

Get back to where people are more accountable rather than simply tossing down small co pays and not paying attention to the costs.
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Well, they exist and people can use them if they want. What is it you are proposing?
 
this year mine has a change where any dr apt or prescription copays are auto mailed to me via check. Only thing that sucks is having a bunch of $10 checks sitting around that i have to go deposit.

its fine, but would be a hell of a lot easier if they just make it fair for everyone so that you can just write off medical expenses on your taxes instead of adding a layer of administration not needed. talk about waste.
 
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