Does you airline offer an Health Savings Account Health Plan?

VerticalSnap

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Interested in what other airlines besides OO offer an HSA. If they do offer it, how much do they deposit and is it a yearly contribution to it or just one time? Thanks!
 

XPOO

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Nevermind....not use to seeing people use the OO identifier.
 

vectorvictor

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Interested in what other airlines besides OO offer an HSA. If they do offer it, how much do they deposit and is it a yearly contribution to it or just one time? Thanks!
Great plans from a financial sense point of view! There are really two types. The simplest is a HSA which allows tax free deductions that are good on anything medical related. (Drugs, copays, contact lenses, dental bills.) The money is taken out pre-tax, usually as a pay check deduction, and must be used during the tax year in which it is claimed. If not; it becomes a donation to the IRS. Its a good way to get your medical expenses tax deductible without reaching the 7.5% of gross pay now required by the IRS.

The second and more complex type is a new form or way of thinking of health insurance. In this type of plan you "self insure" for the first couple of g of your medical expenses. A secondary medical insurance picks up when (and if) you exceed your deductible. (Usually like $2500 for and individual and 5k for a family) Along with these plans comes a savings acount in which you can save (TAX FREE) money up to the deductible amount. This money can be used for any medical related expense. This money can also be carried over. You are going to see a lot more of this in the future. If you are healthy, it is the way to go.

Hope this helps. VV

My advice. Marry someone with state benefits & pension; thats what I did. LOL.
 

Gr82Aviate

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Great plans from a financial sense point of view! There are really two types. The simplest is a HSA which allows tax free deductions that are good on anything medical related. (Drugs, copays, contact lenses, dental bills.) The money is taken out pre-tax, usually as a pay check deduction, and must be used during the tax year in which it is claimed. If not; it becomes a donation to the IRS. Its a good way to get your medical expenses tax deductible without reaching the 7.5% of gross pay now required by the IRS.

The second and more complex type is a new form or way of thinking of health insurance. In this type of plan you "self insure" for the first couple of g of your medical expenses. A secondary medical insurance picks up when (and if) you exceed your deductible. (Usually like $2500 for and individual and 5k for a family) Along with these plans comes a savings acount in which you can save (TAX FREE) money up to the deductible amount. This money can be used for any medical related expense. This money can also be carried over. You are going to see a lot more of this in the future. If you are healthy, it is the way to go.

Hope this helps. VV

My advice. Marry someone with state benefits & pension; thats what I did. LOL.



In your first paragraph where you state "the simplest is a HSA", I beieve you are actually referencing a FSA, aka a flexible spending account.
The second paragraph is the HSA...
 
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Nevets

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Interested in what other airlines besides OO offer an HSA. If they do offer it, how much do they deposit and is it a yearly contribution to it or just one time? Thanks!
One of the plans that XJT offers its employees is a HDHP with an HSA. I don't know if XJT deposits anything into to it though. I'm on my wife's plan which is also a HDHP. They used to deposit $250/month but now its down to $125/month. But the premiums have gone down the last two years. We pay about $67 every two weeks for our family plan.

Good plans if you are healthy, not having babies, and can afford to max out the HSA.
 

labbats

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Eagle has the tax free HSA option. You select the amount every November and then they give you the full amount in January and remove 1/12 every month for the rest of the year.

Did that make any sense? It's simpler than I made it.
 
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