HSA Insur@ance

[user789]

When is the correct time to enroll in HSA plan insurance ?

For new born kid in family is  HSA correct option as there could be frequent visits for kid or going with co pay plan with more premium & less deductible is better option plan ? suggestions pls...

[megadheera]

Go for it. HSA covers baby immunization shots. No charge for it

[Peddayana]

HSA contribution limits are 3450$ for Individual and 6900$ for family. HSA is not insurance , it is a spending account which you can dip in to cover your Deductible , Copay , Coinsurance and Out of pocket costs.

Certain plan names may have 'HSA' in the marketing name , It means that you have an option to contribute for HSA in that plan.

Sometimes if you are enrolled in a high deductible plan then your employer may contribute a certain amount to your HSA account. you can also contribute separately but the contributions should be equal to or less than the IRS limits specified.

This amount is exempted from taxes and you can rollover to next year but you can not use this amount for expenses other than medical. So please plan accordingly.

I would suggest you to opt for HSA if you have any planned expenses like a Baby delivery or some surgery for next year. You can save taxes for your bills by paying through HSA account.

 

[user789]

1 hour ago, Peddayana said:

HSA contribution limits are 3450$ for Individual and 6900$ for family. HSA is not insurance , it is a spending account which you can dip in to cover your Deductible , Copay , Coinsurance and Out of pocket costs.

Certain plan names may have 'HSA' in the marketing name , It means that you have an option to contribute for HSA in that plan.

Sometimes if you are enrolled in a high deductible plan then your employer may contribute a certain amount to your HSA account. you can also contribute separately but the contributions should be equal to or less than the IRS limits specified.

This amount is exempted from taxes and you can rollover to next year but you can not use this amount for expenses other than medical. So please plan accordingly.

I would suggest you to opt for HSA if you have any planned expenses like a Baby delivery or some surgery for next year. You can save taxes for your bills by paying through HSA account.

 

baby delivery is going to be dec end. could be next year also..if its 1 week late..Do you still suggest me to go with HSA if baby is born this or next yr ?

[Peddayana]

32 minutes ago, user789 said:

baby delivery is going to be dec end. could be next year also..if its 1 week late..Do you still suggest me to go with HSA if baby is born this or next yr ?

amount roll over option untundi , do research on how much can you rollover per year