Health Care Plan

[Kosar_For_President]

The health plan at work has gone up 20%. They have giving us an option of a HSA (I think) account. I don't know if it's been around for long, but I have never heard of it. You put money into a bank account you control. And can use that money for only health benefits. You pay into the account for and if you go over anything over $3000 the health care company pays 100%. I am undecided what I should do. Last year I probably had $3000 total in doctor bills.

 

Taking the HSA plan would only save me $35 a month.

 

Pros:

 

1. The money that goes into the account is untaxable money.

 

2. The money is compounded into your account just like any account. So if none of the $ was used, it would be a nice chunk of change in 30 years.

 

Cons:

 

1. If I get sick before I save $3000 I'm toast. Or course I would owe only $3000 no matter what happened.

 

2. You can only use that money for medical expenses, so if something catasprophic happens I would get taxed on that money I take out like an IRA.

[Mr. T]

I like the savings plan myself, i dont have it but it was one of the options that was presented where my wife works. They went with blue cross instead.

 

 

I would look and see if somewhere in that mountain of paper they call a HC bill that just passed congress to see if you will be taxed on the savings plan.

 

 

Any way you look at it HC for guys our age are going to sky rocket in price and will be taxed once these Idiots in washington are working on taking over HC. I wonder how many people 30+ will be layed off or let go from their current jobs right before the HC takeover begins.