We had to pass it to find out...Prescriptions for TYLENOL!

Socrtease said:
I think in 10 years we will all be sad this form of "health care reform" ever passed. I know many of us are now, but when we finally see the costs, both personally and on a national level we are going to regret this. Should have dropped borders on health insurance, made modest restrictions on canceling insurance for health reasons and refusal for pre-existing conditions, and modest reform on medical liability. Would have save us money and not actually increased the bureaucracy.
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In 10 years HCR will have near-universal support.
 
PostmodernProphet said:
it's not a reimbursement, it's the Health Savings Account credit against taxes......used by those with high deductible limits on their health insurance....perhaps you aren't aware of them, it's for those of us who don't get their health insurance provided tax free by their employers.......
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An HSA is an ultra-shitty low cost health plan for employers that hate their employees. You can thank George Bus for it. A lot of people have had their health plans downgraded to HSA since then, but thanks to HCR they're going to have actual health insurance again pretty soon.
 
NigelTufnel said:
You're probably on a list of potential meth cookers or some shit buying all that cold medicine.
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In almost all states you can't buy pseudoephedrine in large quantities. In my state you have to get a prescription for it (which sucks because the alternative formulation containing phenylephrine DOESN'T FUCKING WORK). What is the end result of this? Meth cookers just turn to other, more dangerous methods, and the population at large is inconvenienced and has practically no way to relieve sinus congestion. Thankyou, Republicans!

However, he could go robo-trippin.
 
Watermarx said:
An HSA is an ultra-shitty low cost health plan for employers that hate their employees. You can thank George Bus for it. A lot of people have had their health plans downgraded to HSA since then, but thanks to HCR they're going to have actual health insurance again pretty soon.
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it is a fact that Obama HCR will eliminate the HSA, since all insurance policies issued under HCR will have deductibles too small to qualify for the HSA program.....of course, their premiums are going to be approximately 100% higher because of that higher deductible so it will actually be costing them more......
 
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Dixie said:
My HSA rolls over, I think they all do. FSAs are different, you can use them to pay for child care and other things. Mostly they are used to pay for deductibles and out of pocket things your insurance doesn't cover.
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Um... No, it is a use it or lose it thing for most.
 
Damocles said:
Um... No, it is a use it or lose it thing for most.
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Health savings account - Wikipedia, the free encyclopedia

A health savings account (HSA), is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a High Deductible Health Plan (HDHP).[1] The funds contributed to the account are not subject to federal income tax at the time of deposit. Unlike a flexible spending account (FSA), funds roll over and accumulate year to year if not spent. HSAs are owned by the individual, which differentiates them from the company-owned Health Reimbursement Arrangement (HRA) that is an alternate tax-deductible source of funds paired with HDHPs. HSA funds may currently be used to pay for qualified medical expenses at any time without federal tax liability or penalty. However, beginning in early 2011 OTC (over the counter) medications cannot be paid with HSA dollars (Sec. 9003 of H.R. 3590). Withdrawals for non-medical expenses are treated very similarly to those in an IRA in that they may provide tax advantages if taken after retirement age, and they incur penalties if taken earlier. These accounts are a component of consumer driven health care.[2]

YOU STAND CORRECTED!
 
Dixie said:
Health savings account - Wikipedia, the free encyclopedia

A health savings account (HSA), is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a High Deductible Health Plan (HDHP).[1] The funds contributed to the account are not subject to federal income tax at the time of deposit. Unlike a flexible spending account (FSA), funds roll over and accumulate year to year if not spent. HSAs are owned by the individual, which differentiates them from the company-owned Health Reimbursement Arrangement (HRA) that is an alternate tax-deductible source of funds paired with HDHPs. HSA funds may currently be used to pay for qualified medical expenses at any time without federal tax liability or penalty. However, beginning in early 2011 OTC (over the counter) medications cannot be paid with HSA dollars (Sec. 9003 of H.R. 3590). Withdrawals for non-medical expenses are treated very similarly to those in an IRA in that they may provide tax advantages if taken after retirement age, and they incur penalties if taken earlier. These accounts are a component of consumer driven health care.[2]

YOU STAND CORRECTED!
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Dixie, Dixie, Dixie. What are we going to do with you? :palm:

Let's take it from the top.

(Excerpt) Example of a tax computation
Income tax for year 2009:
Single taxpayer, no children, under 65 and not blind taking standard deduction;
· $40,000 gross income - $5,700 standard deduction - $3,650 personal exemption = $30,650 taxable income
o $8,350 × 10% = $835.00
o ($30,650 - $8,350) = $22,300.00 x 15% = $3,345.00
· Total income tax is $835.00 + $3,345.00 = $4180.00 (10.45% effective tax) (End)
Income tax in the United States - Wikipedia, the free encyclopedia@@AMEPARAM@@/wiki/File:US-GreatSeal-Obverse.svg" class="image" title="Obverse side of the Great Seal of the United States"><img alt="Obverse side of the Great Seal of the United States" src="http://upload.wikimedia.org/wikipedia/commons/thumb/b/be/US-GreatSeal-Obverse.svg/100px-US-GreatSeal-Obverse.svg.png"@@AMEPARAM@@commons/thumb/b/be/US-GreatSeal-Obverse.svg/100px-US-GreatSeal-Obverse.svg.png

So let's say you earn $40,000/yr and place $1,000 in a FSA account. That means you would not pay tax on that $1,000 which, according to the table above, would be $104.50 which is 10.45% of $1,000.

So, that means if you spend $1,000 on OTC meds it’s like the government is giving you $104.50 towards the total. In other words it’s like a co-pay plan, is it not? For every $1000 you spend the government is giving you the tax you would have normally paid on it. So, the bottom line is you have what amounts to a drug benefit plan offering to pay 10.45 % of your cost. That has to be the worst drug plan I ever heard of.

Not to be nosy but I have to ask, “How many bottles of aspirin do you buy?”

If one has a drug plan and the doctor includes OTC meds on the prescription form your insurance will pay a percentage. In my case the percentage is 75% but plans differ between 60% to 100%.

Finally, if someone requires OTC meds on a regular basis they do not have to go to the doctor each time. There is usually a place on the prescription form with the letters “NR” or “R” in a circle. “R” means renewable and “NR” stands for non-renewable. Drugs like anti-biotics, narcotics, etc. are usually marked NR while drugs required on a regular basis, say meds for asthma, can be renewed a number of times.

You have to bear in mind that HCR is a work in progress. As different coverage comes on line other things will be eliminated. As the Wikipedia article states, “A health savings account (HSA), is a tax-advantaged medical savings account available to taxpayers in the United States.” I can’t see such an account being necessary in a country with universal medical and WE all know that’s where it’s headed.
 
Dixie said:
Health savings account - Wikipedia, the free encyclopedia

A health savings account (HSA), is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a High Deductible Health Plan (HDHP).[1] The funds contributed to the account are not subject to federal income tax at the time of deposit. Unlike a flexible spending account (FSA), funds roll over and accumulate year to year if not spent. HSAs are owned by the individual, which differentiates them from the company-owned Health Reimbursement Arrangement (HRA) that is an alternate tax-deductible source of funds paired with HDHPs. HSA funds may currently be used to pay for qualified medical expenses at any time without federal tax liability or penalty. However, beginning in early 2011 OTC (over the counter) medications cannot be paid with HSA dollars (Sec. 9003 of H.R. 3590). Withdrawals for non-medical expenses are treated very similarly to those in an IRA in that they may provide tax advantages if taken after retirement age, and they incur penalties if taken earlier. These accounts are a component of consumer driven health care.[2]

YOU STAND CORRECTED!
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I don't. Most companies do not roll them over. What I said remains accurate.
 
Damocles said:
I don't. Most companies do not roll them over. What I said remains accurate.
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Yes, they do if they offer HSAs. You are thinking of HRAs and FSAs which may not roll over. An HSA is owned by the individual, it is your property. What you said remains inaccurate and factually incorrect. I posted a link to clarify, and you still want to be your typical hard-headed self and argue about it. I don't care Damo, get mad and stomp your feet and insist you're right! You are fucking WRONG, and I showed where you are WRONG! DEAL WITH IT!
 
Dixie said:
Yes, they do if they offer HSAs. You are thinking of HRAs and FSAs which may not roll over. An HSA is owned by the individual, it is your property. What you said remains inaccurate and factually incorrect. I posted a link to clarify, and you still want to be your typical hard-headed self and argue about it. I don't care Damo, get mad and stomp your feet and insist you're right! You are fucking WRONG, and I showed where you are WRONG! DEAL WITH IT!
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"if" they offer this... Most do not. Why is that so hard for you to comprehend? You stated that "most" people had this, most do not. That is a fact.
 
Damocles said:
"if" they offer this... Most do not. Why is that so hard for you to comprehend? You stated that "most" people had this, most do not. That is a fact.
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A Health Savings Account is an individually-owned account, not company owned. Some companies offer an HSRA, an FSA, and an HRA instead, and they contribute to those, therefore, they don't roll over. A personal HSA does roll over because you own it, it's your property, and we have a little thing called the 4th Amendment! I didn't state that most people had HSAs, I said that most people's HSAs roll over, and I will re-clarify... ALL PEOPLE'S HSAs ROLL OVER! HSRAs, FSAs and HRAs, may NOT roll over, it depends on the policy of the company.

In any event, this thread is about the provisions in Obamacare, which will no longer allow people to use their HSA to purchase OTC medications, without a prescription. It effects some 45 million people who DO have HSAs!
 
Damocles said:
I don't. Most companies do not roll them over. What I said remains accurate.
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actually it isn't.....HSA's have nothing to do with companies.....a company does not roll over an HSA because a company isn't involved with an HSA.....so, it's time for you children to stop arguing about it......
 
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