VerticalSnap
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- Joined
- Jun 10, 2006
- Posts
- 18
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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.
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!