$700 is about right -- That is why if you even have a $5,000 "experience" every other year, you are way ahead. The thing is you have to be willing and able to write that check...

Actually this is why they created medical savings accounts.

You can throw $3,050 pre-tax dollars annually into one... Do it.

 

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The only thing I hate about those health savings accounts is they're a "use it or lose it" deal. If you don't use every penny in there during the year, then the money is just gone. It doesn't roll over to next year, you don't get it back with taxes taken out, it's just GONE.

This is the first year I've ever put any money into a health savings account, because this is the first year that I know FOR SURE we will need to spend enough to make it worth it. Between one prescription med, glasses for 2 girls, and a new baby coming this year, yeah definitely. Even with all of that I only put $650 into the HSA, after calculating co-pays and whatnot.

But as a "just in case?" F that. Put it into a regular savings account. At least that way you don't risk losing $3k in a year because you didn't have a health emergency/issue.

 

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That is utterly wrong -- it does definitely roll over. It can be withdrawn with penalties.

 

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He's pointing out that she's married to BT, who, well...I think we all know.

I still feel for her, though. Crappy situation...but I'm extremely glad I have no idea how to answer her questions about the subject.

 

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You're right- I was thinking of the flex spending accounts, not medical savings accounts. The flex accounts do NOT roll over, but the others will.

From http://www.irs.gov/publications/p969/ar02.html#en_US_2010_publink1000204190

Flexible spending accounts are “use-it-or-lose-it” plans. This means that amounts in the account at the end of the plan year cannot be carried over to the next year. However, the plan can provide for a grace period of up to 2½ months after the end of the plan year. If there is a grace period, any qualified medical expenses incurred in that period can be paid from any amounts left in the account at the end of the previous year. Your employer is not permitted to refund any part of the balance to you. See Qualified HSA distribution and Qualified reservist distribution , earlier.

....

An HSA is generally exempt from tax. You are permitted to take a distribution from your HSA at any time; however, only those amounts used exclusively to pay for qualified medical expenses are tax free. Amounts that remain at the end of the year are generally carried over to the next year (see Excess contributions, earlier). Earnings on amounts in an HSA are not included in your income while held in the HSA.

HSAs are only available to people with high deductible health care plans, but MSAs (same thing different name looks like) are available to self-employed, or people under very small employers. I don't know if you could just sign up for one on your own.

 

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I'm not sure if it's an option for you, but there are employers out there that give benefits for as little as 20 hours worked (Alltel was one of them that I know of), my thinking is that maybe you can work part time to keep insurance and still go to school. Even if you're stuck working customer service or whatever for that time, it would be better than going without insurance.


I do not have Cobra insurance any longer, it was just too expensive even with the 65% subsidy that they had back then. My company had really expensive insurance, and I'm not sure why it was so much since it certainly wasn't a "Cadillac plan", but it was going to be $1500 a month to cover myself and kids. just me with the subsidy it was still $270 a month I think.

I currently use a sliding scale clinic, pay $25 a visit and have to pay for labs, but they're cheaper than most. For anything beyond primary care I have to wait for them to have an opening in a charity care slot before I can see the other doctor, which can take months.

 

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I don't have insurance right now being that I am a full time student and only work part time at the hospital.

I'm going to school for Ultrasound, i do X-ray right now at the hospital, and if I were to get sick, i couldn't even go to the hospital I work at...

My advice is don't get sick, it's a crap shoot, but hope for the best.

 

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Who what?

Doesn't believe in socialized health care? What does that have to do with Sarena not being unable to find PAID health insurance?

 

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Apparently the point that Onslaught was alluding to eludes you.

 

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Generally I will just go to a sliding scale clinic, but drugs and everything tend to be full cost unless they have samples. The appointments are also still expensive.

If you've had serious problems in the past, you may want to shop around for someone that will insure you after a year for the PEC and at least get catastrophic coverage with a high deductible for anything else. COBRA was so ridiculous in my case that it wasn't even an option when I stopped working. Like 650 or 700/month and I never even used the policy while I had it, and it had a 5k deductible for almost everything anyway.

 

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