Questions tagged [healthcare]

For questions related to health care costs and paying for them. A country tag is almost always important to add alongside this tag.

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71
votes
9answers
10k views

Ballpark salary equivalent today of “healthcare benefits” in the US?

For my friends in the US, when considering positions (this applies to either salary or contract positions) I've heard it's sometimes along the lines of, you can have X with healthcare, or Y with no ...
43
votes
4answers
16k views

How can I get a job without pushing my family's income into a higher tax bracket?

I live in Seattle and turn 18 before the year's end, and I'm told my family has an income such that if I get a job and make more than $1000, then I would push my family into a higher tax bracket. ...
32
votes
5answers
3k views

Pros/Cons of a Health Savings Account (HSA) in the USA?

I am wanting to know the real benefits or pros/cons of a HSA in the USA. I have now been given the option of signing up for one due to healthcare changes. I understand some of the basics, but after ...
23
votes
4answers
2k views

Is it worth saving HSA funds until retirement?

I recently discovered that there is no lifetime limit to contributing to an HSA account - provided that you don't contribute more than the limit per year. Assuming that an individual makes a decent ...
22
votes
3answers
139k views

If I leave my job, what happens to my flexible spending account?

I am about to decide how much money to set aside for my 2013 Flexible Spending Account (FSA). (The max this year is $2500.) But I am wondering what happens if I switch employers during the year. Does ...
20
votes
1answer
36k views

How does retroactive COBRA coverage work?

I'm voluntarily leaving my job at the end of this month for a new position in a couple of weeks. At my new job, I have health care coverage effective my first day of work. My current coverage ...
16
votes
5answers
8k views

Which is better: Employer-sponsored HSA or opening an HSA individually?

So I know that: Employer-sponsored HSA's allow you to deduct contributions directly from your paycheck, pre-tax With individual HSAs, you must contribute using post-tax dollars, then deduct those ...
16
votes
2answers
12k views

how to deal with involuntary out-of-network charges

A covered family member had to be transferred to another hospital during an emergency medical situation. Both hospitals were in network, but the ambulance that the hospital insisted on using was out ...
15
votes
2answers
5k views

Do birth defects in children count as pre-existing conditions?

My family is shopping for new insurance at the moment. We reside in the United States, Georgia specifically. We have had insurance continuously since she was born. My daughter, born in 2011, was born ...
14
votes
8answers
45k views

The doctor didn't charge the health insurance in time, am I liable?

I got a bill for an emergency room visit for one of my kids. It was the weekend and that was where the insurance told us to go. Luckily no stitches needed. Fast forward 7 months and I get a bill ...
13
votes
1answer
2k views

Difference between Health Savings Account (HSA) & Flexible Spending Account (FSA)?

What is the practical difference between a Health Savings Account and a Flexible Spending Account? What are the pro's and con's of each, and are there situations where either is best?
12
votes
2answers
465 views

What will the penalties be for someone without insurance after Affordable Care Act takes effect?

If I currently don't have health insurance will I have to buy a plan? If I do not what will the penalties be?
12
votes
1answer
702 views

How to understand the status of my 12-year old, unpaid, $200k medical debt?

From 2000 until 2005, I accumulated about $200,000 USD in medical debt to 4 hospitals in 3 states. I can't even count the number of physicians who were involved. Initially, things went ok with billing ...
10
votes
1answer
317 views

Might it make sense not to look into debt that is in collections?

I happened to glance at my credit report and one of the agencies shows that I have a debt of just over $100 in collections. It appears to be from an emergency room in a previous state (I moved about 6 ...
10
votes
2answers
157 views

Tools for comparing costs between different healthcare providers?

I have a high deductible health insurance plan. That means the first $2000 or so expenses per year are not covered by my insurance. What's a good way to compare health care costs from different ...
9
votes
4answers
5k views

Collections for Medical Bill - Pay Settlement or Full Amount?

I live in California, and I had an ER visit in November 2010. I originally owed ~$800. I've been contacted by a collection agency, and offered a settlement of ~$400 I have verified with the original ...
9
votes
3answers
155 views

Comparing/reviewing personal health insurance plans for the self-employed

I'm looking at needing to acquire personal health insurance in the next few months as I move from a job with good benefits to self-employment, and I've found that it's pretty difficult to compare the ...
9
votes
1answer
2k views

Protecting an elderly parent's assets / medicaid look-back

I've been asked by a senior to investigate: What are the things one needs to keep in mind with the issue of an elderly parent with some assets (house + some savings) who may need to enter into a ...
8
votes
3answers
272 views

Who could afford a higher annual deductible who couldn't afford a higher monthly payment?

I'm comparing some health insurance plans with Humana, and trying to understand the relationship between the price tiers. For a single HDHP plan, they have these price options: $1,500 Deductible - ...
8
votes
3answers
69k views

How do I withdraw funds from my Health Savings Account?

I have recently opened a Health Savings Account (HSA) with Bank of America. Do I need to associate it with a health plan? How does that work? Bank of America has set up a HSA for me to make ...
8
votes
3answers
476 views

Could my insurance company be giving my healthcare providers kickbacks?

This may seems like a far-fetched conspiracy theory, but this has happened to me twice now... Scenario goes like this: My insurance policy covers X but not Y (or X has a lower deductible than Y). I ...
8
votes
1answer
5k views

Can my employer change wage rates based upon medical coverage choices?

Prior to this year my employer used to reduce our hourly rate if we elected to enroll in one of the employer sponsored medical plans available. This reduction in rate was in addition to any weekly ...
7
votes
2answers
586 views

Affordable Care Act Documentation

So I just got my taxes completed, and did some searching on the net. Turbo Tax asked me where I got my health insurance. I clicked the box entitled at work, and all was good nothing further was ...
7
votes
1answer
385 views

Can I deduct my individual Health Insurance Premium in Tax

I have a my own LLC and working as self employee for this company. I am working on 1099 for this company. Since there is only 2 employee (including my spouse), I can't take health insurance from my ...
7
votes
2answers
531 views

HSA - Continue to Invest?

I have an HSA that allows me to invest the money in the account in the stock market. Any money not invested is available to be used for health expenses. I currently have ~50% of the total balance of ...
7
votes
1answer
99 views

Medical expenses tax deductions - billed vs. paid

In the USA, total medical expenses above a threshold may be deducted from taxes. If a medical expense occurs in December and the bill is paid in January, for tax purposes, does this expense occur in ...
7
votes
3answers
732 views

Is it possible to deduct health insurance premiums from taxes?

I currently have health insurance provided by my employer. My monthly premiums are deducted pre-tax from my salary. I'm considering canceling this health coverage in favor of an individual health ...
7
votes
1answer
233 views

Do Americans still need extra health care / medical insurance after reform to health care? [U.S.]

Does the passage of the recent bill in the US change the way Americans budget for health care? If so who benefits?
6
votes
3answers
3k views

Minimizing medical costs with HSA

After landing a new job, I opened a health savings account (HSA) in February 2019. I decided to contribute $1 of my pay per pay period to my HSA. However, I can change my contribution amount at any ...
6
votes
3answers
1k views

What is the rationale behind an FSA being “Use it or Lose it”?

One of the biggest gripes most people have with the Flexible Spending Account is the rule that you must "Use it or Lose it". This can lead to people frantically running around just before their money ...
6
votes
1answer
554 views

How do I evaluate a health insurance policy that covers a specific disease?

I know that medical emergencies could be fatal for emergency funds and other personal finance aspects. How can you evaluate a cancer insurance policy? What are the aspects that makes one policy ...
6
votes
1answer
516 views

What are some good ways to spend FSA money?

I have an FSA and contributed $400 to it. I made this decision in October, thinking that I would need some dental work in the coming here. Two weeks after submitting my form, I chipped the tooth and ...
6
votes
1answer
214 views

Can a check used for medical expenses be written off if it is written in the current year and clears in the following year?

I am considering writing a check to pay off my braces all at once since it is an amount larger than 7.5% of my income. However it is getting very close to the end of the year; if I write the check ...
6
votes
1answer
473 views

Do I have to pay a Health Care Tax Penalty for my F-1 spouse?

I'm an H-1B holder married to an F-1 student for the middle of 2016. I have insurance coverage through my employer. My F-1 wife doesn't have health insurance. She only has student insurance covered ...
6
votes
2answers
351 views

Medical bill in collections

I am a college student that had surgery in 2014 on my gallbladder and subsequently became very ill and needed a necessary test to prove a a diagnosis my gastroenterologist suspected. He recommended ...
6
votes
3answers
8k views

How is my employer affected if I have expensive claims on my group health insurance?

Suppose, for the sake of discussion, that I work at ACME, Corp, a USA company. As part of my compensation, ACME makes me a member of their group health insurance through Aetna, a USA health insurance ...
6
votes
3answers
694 views

How To Hedge Healthcare Costs

Quite a few articles have appeared recently about increasing healthcare costs (for those of us affected by Minnesota). In general, many families worry about healthcare costs because it can lead to ...
6
votes
1answer
701 views

HDHP Part of Year, HSA Max Contribution

What HSA contribution limits exist if a person for a portion of the year had an HDHP plan and for another portion of the year had a co-pay plan? Examples: Jane worked for Company A for four months ...
6
votes
2answers
618 views

What is the relationship between a HDHP and an HSA?

I'm confused about how a HDHP and a HSA relate. I understand that there are tax advantages and the money in an HSA is yours to keep. Like any other health plan, an HSA-compatible plan, the ...
6
votes
1answer
85 views

Using a healthcare Flexible Spending Account at the same time as a Health Savings Account?

Here is my situation: I have the high deductible insurance plan. The coverage includes my wife, dependent daughter and mysef. I contribute to an HSA. My wife has her own insurance through her ...
6
votes
1answer
2k views

Retroactive COBRA Premium Increase: Can my COBRA health insurance premiums be hiked retroactively?

I hope this is the right place to ask this, but if not let me know and I'll go away. About 6 months ago I left a W-2 position to do independent consulting. Since then, I have been using my previous ...
6
votes
1answer
583 views

How can we use up our Flex Spending Account (FSA) before the end of the year?

My husband and I signed up for a Flex Spending Account for the first time this past year. We've got about $100 left over now, in mid-November, and I've been told that money will disappear if we don't ...
5
votes
3answers
1k views

Can I pay myself back later in the year if my HSA doesn't have adequate funds earlier in the year to pay for an expense?

We are being offered an HSA/High Deductible plan and my only concern would be if I had to incur a significant expense at the beginning of the year - no plans to but you never know, right? If I don't ...
5
votes
2answers
172 views

Tips to putting the yearly health insurance payments to work

I have been making my annual $1.5k health insurance payments to Blue Cross and now it feels like I am pouring money down the drain year after year! Since I exercise daily, eat healthy and keep myself ...
5
votes
1answer
1k views

Ambulance Fees and Insurance

I recently had a medical scare that sent me to the hospital by ambulance in New York City. When the bill came due my insurer covered the emergency room visit but did not cover any of the costs of the ...
5
votes
3answers
302 views

How long do you need to have High Deductible insurance before contributing to an HSA?

I am just about to leave my high deductible plan for a plan that is not HSA-eligible. As I understand it, I could max out my HSA for the year right now, and then I could use the money in my HSA for ...
5
votes
3answers
323 views

Does the rise in ACA premiums affect employer-provided health insurance premiums?

So I hear a lot about rising premiums and that the ACA is the leading cause. Recently I heard that the majority of people still get their health insurance through their employer. Is there merit that ...
5
votes
2answers
235 views

What are the most common subtleties of COBRA continuation health coverage?

I'm leaving my job at the end of the month. I'd like to continue my health insurance that was part of the company benefits. What are the most common subtle ins/outs or gotchas for someone starting/...
5
votes
2answers
5k views

Can I use my HSA debit card to pay for vaccinations?

I am about to go on safaris in South Africa and Zambia and need to be vaccinated against a few diseases. The IRS publication 502 doesn't mention vaccinations explicitly, but does state that ...
5
votes
1answer
56 views

Health insurance deduction - better to buy through S-Corp or individually?

I have a S-Corp that I can buy myself insurance through. If my monthly coverage costs $380, is it more advantageous for me to purchase this insurance through my S-Corp and then use it as an employee ...