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taught_me_patience

(5,477 posts)

35. HSA doesn't mean that there is no insurance

Fri Jan 13, 2017, 11:09 PM

Jan 2017

it usually means you have insurance with a very high deductable. You pay out of pocket until the deductable kicks in, then insurance starts paying. There are usually out of pocket maximums per year. Mine is 6k for our family. If the bill is 500k, you only end up paying 6k.

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Health Savings Accounts [View all] mexit Jan 2017 OP

Isn't that just universal care by another name? Locut0s Jan 2017 #1

Yes and mexit Jan 2017 #21

That means if a kid contracts cancer Warpy Jan 2017 #2

You missed the part mexit Jan 2017 #22

If you think that's going to happen Warpy Jan 2017 #25

sarcasm... sarcasm..... pangaia Jan 2017 #27

That's not a health savings account. You're describing humane health care. Vinca Jan 2017 #3

But you'll WISELY evaluate your medical spending choices, resulting in competition and lower costs.. brooklynite Jan 2017 #5

Doesn't everyone unconscious on an emergency room gurney?? Vinca Jan 2017 #6

Or when you're having chest pains call around to find out which hospital has the cheapest dflprincess Jan 2017 #32

Very well put. But the GOP will describe HSA accounts guillaumeb Jan 2017 #8

And Freedom isn't FREE!!1!! Cal Carpenter Jan 2017 #16

I understand. It does make a great, if confusing slogan. guillaumeb Jan 2017 #20

Thank you mexit Jan 2017 #23

Welcome to DU. guillaumeb Jan 2017 #63

I worked for a company that had HSAs. greatauntoftriplets Jan 2017 #10

If you spent the entire HSA during a calendar year, does the company give you more money? LastLiberal in PalmSprings Jan 2017 #12

the least they could do is roll it over. mopinko Jan 2017 #13

That would have been nice. greatauntoftriplets Jan 2017 #19

Of course not! greatauntoftriplets Jan 2017 #17

That's an FSA, not an HSA central scrutinizer Jan 2017 #15

They called it HSA, whatever it was. greatauntoftriplets Jan 2017 #18

They could not legally call it an HSA, because HSA has a specific legal meaning - Ms. Toad Jan 2017 #36

That's an FSA. With a true HSA the money carries over The Velveteen Ocelot Jan 2017 #24

That was an FSA (Flexible Spending Account), not an HSA. WillowTree Jan 2017 #47

That's an FSA haele Jan 2017 #48

This was my experience, too. herding cats Jan 2017 #56

To review: in the United States citizens are expected to dflprincess Jan 2017 #37

America is a ripoff BeyondGeography Jan 2017 #54

jeez Skittles Jan 2017 #4

HSAs work great for healthy individuals with lots of disposable income Freethinker65 Jan 2017 #7

Glad you put this up. Wellstone ruled Jan 2017 #11

I think the OPer was engaging in a little sarcasm..... pangaia Jan 2017 #28

Ah? Certainly hope so, but the GOP has been floating the HSA idea as an alternative Freethinker65 Jan 2017 #30

See my post... pangaia Jan 2017 #31

Agreed, it forces workers into high deductible policies Freethinker65 Jan 2017 #41

If it's like a co-worker's HSA account, maybe. His wife's employer paid the entire premium and... Buckeye_Democrat Jan 2017 #9

What do you mean by 'premium?' Why would an HSA have a premium? pangaia Jan 2017 #33

HSAs are paired with a high-deductible insurance policy. subterranean Jan 2017 #55

Thanks,, I figured this out last night with the help of a poster here. pangaia Jan 2017 #64

It wasn't a flexible spending account (FSA). It was insurance, an HSA. Buckeye_Democrat Jan 2017 #59

Thanks. I especially like your last paragraph. :)) pangaia Jan 2017 #65

That is not a HSA (which is just a savings account that will be destroyed by any serious costs) anneboleyn Jan 2017 #42

HSAs work well for those of us that are older and have Ilsa Jan 2017 #14

Do you have enough to pay for, oh say.... $450,000 in chemo treatments, radiation treatments, pangaia Jan 2017 #29

HSA doesn't mean that there is no insurance taught_me_patience Jan 2017 #35

Humm,, interesting. pangaia Jan 2017 #38

Yes but dflprincess Jan 2017 #44

That is kinda my point. pangaia Jan 2017 #46

Yes exactly taught_me_patience Jan 2017 #45

Got it. pangaia Jan 2017 #49

correct taught_me_patience Jan 2017 #51

I never in a million years thought I would ever see anything good in an HSA, pangaia Jan 2017 #53

OK,, just googled it.. I got it... pangaia Jan 2017 #40

Single.Payer. onecaliberal Jan 2017 #26

HSAs are another Wall Street scam dflprincess Jan 2017 #34

HSAs are great and are a better choice for most than most traditional plans taught_me_patience Jan 2017 #39

Um, no. One MRI costs 5k. Treatment for heart disease, diabetes, or cancer would wipe out anneboleyn Jan 2017 #43

Actually, you pay the insurance negotiated rate taught_me_patience Jan 2017 #50

But they're going to charge you the insurance rate for the MRI. Yavin4 Jan 2017 #58

You've never had any medical bills have you? Yavin4 Jan 2017 #57

This person has no clue. Dave Starsky Jan 2017 #60

69% of Americans have less than $1000 in their savings accounts. stopbush Jan 2017 #52

What if you are not born here? HoneyBadger Jan 2017 #61

Inadvertently got into an HSA last year DeminPennswoods Jan 2017 #62