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Post by sd51555 on Mar 6, 2017 18:23:29 GMT -6
I already feel they're going to screw this up somehow. Just my passing glance at it, they're going to allow a lot of healthy people to opt back out of coverage while leaving the extremely sick in the same pool as the healthy. Until the analysts rip this apart, I'm not celebrating anything. It looks like a big game of pass the buck. When it comes to this, I trust Newt and Rand to be the voice of economics. I hope they get those guys two cents on it. housegop.leadpages.co/healthcare/
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Post by Freeborn on Mar 6, 2017 18:35:17 GMT -6
Unfortunately its a done deal. You can't repeal an entitlement even if its not economically sustainable.
In the short run taxpayers will pay for it and I hope somehow they can get some cost out of the system.
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Post by sd51555 on Mar 6, 2017 18:46:36 GMT -6
What's worse, right now everyone is all whipped in a lather over Russian diplomats and wiretapping. Couldn't give a shit about either right now. Let's get focused on fixing health care coverage before nobody has any, or everyone decides their best path to wealth is poverty.
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Post by chummer16 on Mar 7, 2017 7:09:40 GMT -6
The only good thing I see is the employer mandate is gone. What happened to buying across state lines, didn't see any mention of that.
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Post by sd51555 on Mar 7, 2017 7:21:33 GMT -6
It's already looking like this is headed for an internal fight with the GOP. I really really dislike Paul Ryan and Mitch McConnell because of shit like this. Seems like we're headed right for a "Who's going to pay the bill?" discussion vs a "Why is the bill so damn high?" discussion.
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Post by leexrayshady on Mar 7, 2017 18:05:37 GMT -6
I love the notion of HSA contribution limit going up to $13,000 might turn into my retirement vehicle of choice if it passes, not stoked about only $4000 tax credit for people age 60 as I was hoping to use it to get me by till medicare kicks in, but with a high HSA limit I should still be fine. 25 years from now.
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Post by Freeborn on Mar 7, 2017 18:43:15 GMT -6
I love the notion of HSA contribution limit going up to $13,000 might turn into my retirement vehicle of choice if it passes, not stoked about only $4000 tax credit for people age 60 as I was hoping to use it to get me by till medicare kicks in, but with a high HSA limit I should still be fine. 25 years from now. Agree with that, this is a big win for people if they use it. Unfortunately many people won't use it. I have a close friend who runs a business in central Wisconsin and he is amazed at the number of employees who don't contribute the minimum into their 401k to get the company match. They have counseling to help employees understand the impact but some people still won't contribute. You can offer real answers to people and they still won't use them.
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Post by Sandbur on Mar 7, 2017 19:10:20 GMT -6
I love the notion of HSA contribution limit going up to $13,000 might turn into my retirement vehicle of choice if it passes, not stoked about only $4000 tax credit for people age 60 as I was hoping to use it to get me by till medicare kicks in, but with a high HSA limit I should still be fine. 25 years from now. Agree with that, this is a big win for people if they use it. Unfortunately many people won't use it. I have a close friend who runs a business in central Wisconsin and he is amazed at the number of employees who don't contribute the minimum into their 401k to get the company match. They have counseling to help employees understand the impact but some people still won't contribute. You can offer real answers to people and they still won't use them. I fear many of those people will get free health care while those of us who save will pay our share (and their share). Probably the same with retirement.
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Post by Bwoods11 on Mar 7, 2017 20:11:35 GMT -6
A lot of people who sleep til noon, then watch Days of Our Lives were getting 100% free health care. Just no incentive to work.
Frustrating deal.
I like HSA, try to fund as much as I can into it.
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Post by sd51555 on Mar 7, 2017 21:17:08 GMT -6
I just read an article sometime in the past month where it was stated that there are only about 700,000 people in the US that have a portion of their HSA invested in something beyond the savings account. Most don't have $1,000. Didn't/don't pack it away while they're healthy. That's going to be a wakeup call.
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Post by nhmountains on Mar 8, 2017 2:33:57 GMT -6
Agree with that, this is a big win for people if they use it. Unfortunately many people won't use it. I have a close friend who runs a business in central Wisconsin and he is amazed at the number of employees who don't contribute the minimum into their 401k to get the company match. They have counseling to help employees understand the impact but some people still won't contribute. You can offer real answers to people and they still won't use them. I fear many of those people will get free health care while those of us who save will pay our share (and their share). Probably the same with retirement. I think you've nailed it Art. I'm sure that's what'll happen.
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Post by MoBuckChaser on Mar 8, 2017 4:05:15 GMT -6
I don't get what is the big deal with a HSA? Looks like all the fee's can cancel out the write off to me.
And you are basically costing yourself money because of the high deductible.
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Post by wiscwhip on Mar 8, 2017 6:38:37 GMT -6
They offered an HSA to us this year as an option to our company sponsored plans. No way in hell! I will pay the $100+ per week premium before I sign up for something that doesn't provide anything in the way of prescription coverage, where every dime for your medications comes out of your own pocket. I have one prescription that would cost me more than my monthly premium, what do I do about the other two I'm on and the 1 my wife takes? Keep paying more out of pocket? HSA's do not work for everyone, especially those who have even minor medical conditions. They maybe great if you are young and completely healthy and can stash away every dime you put in to it, that's great, but if you have any kind of recurring medical expenses, you would likely not be able to contribute enough to cover yourself for the year AND stash anything away for future use.
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Post by Freeborn on Mar 8, 2017 7:06:29 GMT -6
They offered an HSA to us this year as an option to our company sponsored plans. No way in hell! I will pay the $100+ per week premium before I sign up for something that doesn't provide anything in the way of prescription coverage, where every dime for your medications comes out of your own pocket. I have one prescription that would cost me more than my monthly premium, what do I do about the other two I'm on and the 1 my wife takes? Keep paying more out of pocket? HSA's do not work for everyone, especially those who have even minor medical conditions. They maybe great if you are young and completely healthy and can stash away every dime you put in to it, that's great, but if you have any kind of recurring medical expenses, you would likely not be able to contribute enough to cover yourself for the year AND stash anything away for future use. Thats true but in the context of a country wide healthcare plan they are a good idea. There are allot of healthy people who go to the doctor on a whim and would think differently if they had to pay out of pocket. I see it as a tool to help lower overall demand for healthcare and its a good deal if you don't have medical expenses. My wife and I have been in an HSA for years and easily have the large co-payment needed for medical emergencies. In the meantime my wife and I hope to stay healthy and if we do we will retire with an additional savings that can be used to buy healthcare in our retirement. HSA's are not for everyone but for many they are a very good idea. I will have to look closer at my HSA but I think prescriptions are covered and I know regular physicals are.
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Post by wiscwhip on Mar 8, 2017 7:40:08 GMT -6
I think you are correct in that it should be an option that should be offered to everyone with basically no limit(or a VERY high one) to the contribution amount. I wonder if the rules differ by state? Basically our HSA was explained as you contribute, company matches up to a certain point and you are on your own for ALL expenses you incur other than a yearly physical. All medications are to be paid for out of your HSA at full price.
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