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Re: Getting the most out of ObamaCare
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hero69 wrote:
i guess i can see how the hsa would make sense for dental and vision if i drop these plans, but isn't it dicey for other medical things since the monies deposited into hsa are non-refundable. i remember a ciolleague splurging on some fancy glasses that he didn't even want so that he would get some benefit from money left in hsa at year-end


Thats a medical FSA - use it or lose it.

HSAs are different - you get to keep the money. You can think of a HSA like a 401k/IRA. It has huge tax advantages long term and pretty much halves any medical bills you have to pay.


http://www.hsacenter.com/what-is-hsa.html

http://www.forbes.com/sites/ashleaebe ... o-cut-your-2012-tax-bill/

HSAs come with a unique triple tax benefit: you sock away money pretax, it grows tax free, and when you take money out to pay for medical expenses, it comes out tax free. You can use HSA money to pay current medical bills or leave it growing tax free and use it tax free for uncovered medical and dental expenses in retirement.

Posted on: 2014/11/18 13:20
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Re: Getting the most out of ObamaCare
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hero69 wrote:
i guess i can see how the hsa would make sense for dental and vision if i drop these plans, but isn't it dicey for other medical things since the monies deposited into hsa are non-refundable. i remember a ciolleague splurging on some fancy glasses that he didn't even want so that he would get some benefit from money left in hsa at year-end

That isn't the HSA plan. HSA carries over year after year.

Posted on: 2014/11/18 13:17
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Re: Getting the most out of ObamaCare
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i guess i can see how the hsa would make sense for dental and vision if i drop these plans, but isn't it dicey for other medical things since the monies deposited into hsa are non-refundable. i remember a ciolleague splurging on some fancy glasses that he didn't even want so that he would get some benefit from money left in hsa at year-end

Posted on: 2014/11/18 13:05
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Re: Getting the most out of ObamaCare
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The smart move for many people is to go with a high-deductible plan, but contribute to a HSA.

Posted on: 2014/11/18 12:55
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Re: Getting the most out of ObamaCare
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maybe i'm obsessed with saving money, or maybe i am just crazy. but i am wondering if i should keep my vision and dental plans and just pay out of pocket. we pay $44 per month (or $540 per year) but we could just walk in and pay $20 -$40 per cleaning. besides, there have been years when i have stupidly skipped going to the dentist altogether becuase i'm lazy.

now, we pay $20 per month for vsision, but i also question the usefulness of this. why not just go to walmart or bj's.

as for medical insurance, i see that my deductible is $3700 with $20 co-pay to go the dr, but now i see why i get billed for every single freakin' test. and the doctors says my plan is like a gold plan under Obamacare which is surprising because i could walk into an urgent care clinic in manhattan and pay $125 to see a dr. which beats the $125 a month i pay toward my medical insurance which begs the question is corporate provided health isnurance the best option if one can cover the small costs, but not catastrophic costs (say above $5,000)?

Posted on: 2014/11/18 11:23
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Re: Getting the most out of ObamaCare
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Posted on: 2014/11/17 18:24
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Re: Getting the most out of ObamaCare
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interestin article from marketwatch, talking about wide variation in costs for same thing across different providers

http://www.marketwatch.com/story/why- ... 2014-11-17?dist=afterbell

this makes me think of the time i had to pay $200 for a prescription even after express scripts paid its portion. same price at rite aid and target. then i told the dr, and he told me that i could get the same drug for $62 all-in with express scripts paying nada at the clinic's onsite pharmacy

Posted on: 2014/11/17 17:13
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Re: Getting the most out of ObamaCare
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1. There appear to be greater variety of health plans in NY than NJ? NY also has a catastrophic option? Why doesn't NJ/the federal plan?

The low-end Bronze plans are pretty close to "catastrophic."

The ACA doesn't offer a "catastrophic" classification. If any such plans still exist, they're outside the Exchanges. Most catastrophic plans were too crappy to meet the ACA guidelines.

There are no "federal options." Every plan is state-by-state.


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2. The NY plans appear to be much cheaper than theNJ/federal options?

Prices vary by state, county, age, number of people on the plan, and so forth.


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3) If one has sizeable assets and can afford to pay for routine doctor's visits, is it better to take the bronze plan?

I for one don't give financial advice over the Internet. ;)

You might want to talk to a navigator.


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4) if a participant gets sick in Caliifornia, will insurance cover costs in california? does it have to be in or out of network? what about illness overseas?

Emergency rooms should be covered. Otherwise, it's classified as out of network.


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5) if one has a 2nd home in another state with more affordable plans, say illinois or massachusetts, can one apply for health isnurance from that state?

I believe it's based on what state is your official residence for federal tax purposes. Not 100% sure.

Posted on: 2014/11/17 11:10
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Getting the most out of ObamaCare
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So, some friends and i were looking at the different plans under ObamaCare for both Hudson County and Manhattan and came away with the following observations/questions. Anyone welcome to provide useful feedback.

1. There appear to be greater variety of health plans in NY than NJ? NY also has a catastrophic option? Why doesn't NJ/the federal plan?

2. The NY plans appear to be much cheaper than theNJ/federal options?

3) If one has sizeable assets and can afford to pay for routine doctor's visits, is it better to take the bronze plan?

4) if a participant gets sick in Caliifornia, will insurance cover costs in california? does it have to be in or out of network? what about illness overseas?

5) if one has a 2nd home in another state with more affordable plans, say illinois or massachusetts, can one apply for health isnurance from that state?


i'm sure we all have lots of questions and i hope we can help educae each other

Posted on: 2014/11/17 10:36
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