Investment

» Normxxx - IRS Publication 969

BUT, if you don't have some kind of drug coverage, one cycle could wipe you out (with some of those newest drugs going for $100,000+ per dose or cycle).

-- posted by Normxxx

» allancoleman - IRS Publication 969

My plan has drug coverage . I just don't happen to konw what it is because I'm not now taking any prescription drugs other than an occassional aspirin . A 81 mg morning and nite for my colon and an occassional 325 mg if I'm ever feeling like I'm getting the flu or a headache .

My brother's on chemotherpy for liver cancer that progressed from his colon cancer before removal of his colon so I'm aware what drugs can cost .

-- posted by allancoleman

» allancoleman - More HSA discussions :

-- posted by allancoleman

» allancoleman - HSAs through Vanguard

-- posted by allancoleman

» Normxxx - HSAs through Vanguard

Thanks, Allan. I am sure I am way over the hill for HSA to do me any good; but I try to keep up on the medical services system, since I think our current disfunctional system is almost as liable as W to destroy "the good old USA (currently, it can't start a war)." Besides, I believe in some form of universal care. You may remember my arguments with Kirk and Mitelo (the latter a bundle of contradictions; he didn't believe the government should have to pay, but he believed in keeping people alive as long as medically/technologically possible).

-- posted by Normxxx

» Chgo - IRS Publication 969

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I intend to open a seperate individual HSA account in my wife's name for tax years 2009 and 2010 so my wife could have an additional $8k to $10k .

Allan, you have thrown me for a loop here, or I'm not understanding the rules correctly.

If you open a new account for your wife, won't your family contribution will be cut in half to the individual contribution level? The only advantage that I see is the extra $1000 (which is a pretty good advantage ) catch-up amount for 2009 and 2010.

-- posted by Chgo

» allancoleman - IRS Publication 969

You are absolutely correct , Chgo , that when I go on Medicare next year in 2009 and no longer qualify for a HSA for myself that my wife will only be able to contribute to an individual HSA for " half " the amount we presently deposit to our family HSA account . But it's a way to get a couple more extra years worth of HSA money set aside , the $8k to $10k mentioned , before she herself goes on Medicare in 2011 . And yes you are also correct that the $1k catch up provision is still available for the single individual or family contribution .

-- posted by allancoleman

» allancoleman - HSAs through Vanguard

You're very correct , Normxxx , that the medical services system is a mess . And Alan Greenspan in his new book , " The Age of Turbulence - Adventures in a New World " , gives it serious discussion in chapter 22 , " The World Retirees . But Can It Afford To ? " .

Alan says the Medicare / Medicaid system is in more trouble than the Social Security system and must be seperated from Social Security in order to solve the problem .

-- posted by allancoleman

» Chgo - Thanks, Allan........

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that when I go on Medicare next year in 2009

Well congratulations, Allan. I'm thrilled (for you) that finally, the govt will be givng back to you, for a change!)

And yes you are also correct that the $1k catch up provision is still available for the single individual or family contribution .

Thanks, Allan. I just received my packet from BanCorp today, and now I'm wondering if I should set up a separate account for the "boss-Lady". She has 3 more years, before that "golden benchmark", and that is $3K that Uncle Sam can do without, IMO.

Sorry for the poor punctuation and grammar in my original note, but I was in a rush.

If I could only find an accomplished, good looking, female writer (married or not) that would give me writing lessons (private, of course), I would be so thankful and appreciative.

But then, who would put up with a pig such as I, that is looking for FREE lessons?

BTW, were you anywhere near the last lava flow?

-- posted by Chgo

» allancoleman - HSA deductable question

-- posted by allancoleman