Okay okay, I know I am still fretting about health insurance, but I had to share this wonderful link:
It lays out HSAs rather well.
I am just pondering and maybe they aren't SO bad. My insurance has a new plan that is $3k deductible for family. BEtween that and the federal limits we could not put aside more than about $2800/year BUT it would lower our premiums $5,000/year. The thing is the "out-of-pocket" is way more than the deductible ($7k?). So um yeah I want to put away $5k/year. But I Can't in the HSA.
Plus the premiums would no longer be tax deductible - I didn't even know that! But we only get to deduct $2k-$4k a year (the 7.5% AGI limit), and with this we would get the $2800/deduction (but not for state at all!!!!).
Are you confused yet?
Plus you can invest in c.d.s and stocks, yeah, sure great. But what if you need the money? IF we have enough in cash maybe a 3 month c.d. would do.
The pluses - if we don't need it we could use it for dental bills and retirement...
I just believe in Murphy's Law a little too much. After paying huge premiums for years, I can just see us lower our plan and get slammed by something unforeseen. IT scares me still. But I have to question the logic of continuing to pay almost $10k/year in medical insurance when we can cut it in 1/2 and put the difference away for a rainy day.
Oh well, I have a year to ponder...
January 4th, 2007 at 02:04 am 1167876246