You can't use a tax-privileged HSA without having Obama-approved insurance

Dec 17, 2024
7:30:01am

Bobber Contributor

If you self insure, you get no tax benefits at all until your total healthcare expenses exceed 7.5% of AGI, when you can start deducting expenses. Contributions to your own self-insurance fund are not deductible.

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Bobber

Bio page: Bobber
Joined: Nov 10, 2011
Last login: Dec 17, 2024
Total posts: 653 (22 FO)

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Messages

Author

Time

Kyle Collinsworth has lost it

Parker Schnabel

Dec 16, 11:15pm

Someone should tell him about taxes. Imagine how much he can save by not paying

cougaman

Dec 16, 11:18pm

And car insurance! I haven’t been in an accident for over twenty years. What a scam

BYU Grounds

6:48am

Wow. And I thought his take on sunscreen was bad.

Ted Lasso

Dec 16, 11:21pm

I haven’t had it for 7 years… Christian health share much better if you

Blue chunks

Dec 16, 11:22pm

We got hosed doing this one year

grosven

Dec 16, 11:25pm

Bummer! What happened? Dang 6 figures!

Blue chunks

Dec 16, 11:36pm

4 hospital emergencies, 2 surgeries. 1 adolescent behavioral incident

grosven

8:30am

That's insurance with a different name

JuicyJam

Dec 16, 11:29pm

It’s technically not true insurance.

rainorsnow

12:01am

Health insurance is not true insurance. It’s like paying for oil changes

BYU '80

6:48am

We had liberty health share for years and realized they were embezzling money

karatekid

2:10am

Liberty cleaned it up. I am not defending what happened at all. I was affected

Iman23

7:24am

We actually finally got our last paybacks from liberty health share this year

Dat_rmishner

8:41am

I had Christian Health Care Ministries for 8+ years and they cost me $25k

BYULAWGUY

4:57am

Until they find out you're not Christian and kick you out

sah22

5:08am

Yes Medishare thinks we’re not Christian. I flat out asked them and when I said

Blue chunks

6:57am

If you don’t mind lousy coverage

BYU '80

6:47am

We did this for a few years and are so glad to be done with it. They are pretty terrible.

byujacob

6:53am

Since the laws changed to require insurers to accept anybody and eliminate

DirtyWater

Dec 16, 11:27pm

I went without for a couple years. Not worth the $20k+ per year premium

MHOP

Dec 16, 11:30pm

You can get off market insurance for much less and/or accident protection.

SoValleyCOUG

7:57am

Depends on how much you have in the bank.

The 435

Dec 16, 11:31pm

Dude has no clue what an out of pocket maximum is. It’s not a scam if you

rainorsnow

Dec 16, 11:47pm

Or catastrophic.

Soupie

Dec 16, 11:50pm

HSA if healthy. HMO if you plan to use it.

CougieMcCougFace

12:51am

Cancer can happen to anyone. Get even the cheapest one through work or on the

rainorsnow

12:56am

Both of those are insurance

CougieMcCougFace

1:24am

HSA is a savings account. Unless you mean HSA WITH an insurance policy/plan.

rainorsnow

1:26am

Yes - You have to have a high deductible plan with an HSA

CougieMcCougFace

1:28am

The plans my work offers, there is practically no circumstance where the HMO is worth it over the high deductible plan.

Radioactive Coug

1:01am

Yeah, this is usually the case. The high deductible plans make the most sense

rainorsnow

1:39am

I have calculated hmo vs high deductible and hsa for about every situation

BYU '80

6:57am

We don’t get a match on HSA.

CougieMcCougFace

7:54am

Pretty good wellness benefit

BYU '80

8:32am

I have not had health insurance for 30 years

Norge Coug

3:46am

How much do you pay in taxes?

IronPotato

4:46am

RE: How much do you pay in taxes?

sah22

5:11am

The average tax burden in Norway is only like 8% more than the US

NGB

5:17am

Except that Norway is essentially compared to a single state in the US

nephicoug

5:55am

America is a far more diverse country at every level. We could learn something I'm sure but we have much more

Colorado

6:07am

Sounds cold

Sea Chicken

4:57am

I’ve heard good things about Norway.

eysikal

6:04am

Just checked. Sunrise 9:16 am. Sunset 3:10 pm today? Yikes. I think I’m out.

eysikal

6:07am

Norway exports 1.7M bpd of crude oil for a country of 5.5M people

AggieWeekendCougar

6:08am

Norway is a spec on the map. Not comparable to the US. Homogenous population in every sense. Shared cultural values. You

Haysom Till

6:52am

Didn't take very long for BuT tHe ImIgRaNtS to come out

NGB

11:07am

This is such an apples to oranges comparison.

Jelly Man

6:58am

To me, the most pathetic thing is drugs made in America are sold for more here

Zoobieman

8:07am

Loved him as a player, but he's full of moronic ideas.

NGB

5:06am

Not sure his family status, but this might be true for a young healthy person

zerome4sooners

5:19am

It is a scam. Profits over coverage. He’s not wrong.

Haysom Till

6:57am

The average health insurer has 2-4% profit margins.

BYU '80

7:03am

Insurers 100% do try and screw people over pretty non-stop. I work directly in this field. It’s a total cluster. They’ve

Haysom Till

9:15am

You could always start an insurance company and undercut everyone else.

rainorsnow

7:06am

Been paying $24K/yr (including employer contrib) for a high deductible/HSA family plan

Bobber

7:06am

The insurance company has already negotiated the prices. When you look at a stmt

rainorsnow

7:13am

Yes, but those paying cash aren't paying the full charged amount either. In...

CougaReb

7:25am

You can't use a tax-privileged HSA without having Obama-approved insurance

Bobber

7:30am

True, but the point of investing to self insure instead of paying premiums...

CougaReb

7:35am

People hate insurance until they need it.

SoValleyCOUG

9:39am

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