Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Is this the document that guides the limits ?
http://www.irs.gov/pub/irs-drop/rp-12-26.pdf

If so, I will qualify and am looking for recommendations on where to have an HSA.

Also, for 2012, my in network deductible is $500 but out of network is $1500 - would this qualify me for an HSA in 2012 ?

I am meeting with an accountant next week but I would like to be prepared and have all the info she might need.

Thanks
Print the post Back To Top
No. of Recommendations: 2
Also, for 2012, my in network deductible is $500 but out of network is $1500 - would this qualify me for an HSA in 2012 ?
No.
$500 is less than $1250 (self) or $2500 (family)

If so, I will qualify...
I would check with the insurance provider whether the plan you will have for 2013 is indeed a high-deductible health plan (HDHP)
My experience is that if the plan qualifies they make a point of stating that - usually even making it part of the plan name - ex: "HDHP plan by Cigna"
If what you signed up for 2013 wasn't labeled as a HDHP, IMO it's very likely it isn't a HSHP and you don't qualify for an HSA. But I would certainly check with whoever's providing you coverage (your HR department if it's through a job, or the insurance agent if it's not)

Good luck.

BTW: there are two HDHP/HSA boards on TMF - although they don't have much traffic.
Print the post Back To Top
No. of Recommendations: 0
If what you signed up for 2013 wasn't labeled as a HDHP, IMO it's very likely it isn't a HSHP and you don't qualify for an HSA. But I would certainly check with whoever's providing you coverage (your HR department if it's through a job, or the insurance agent if it's not)

Neither. I am considered a retiree from my late husband's company. The plan is called "Essentials" and has an in network deductible of $2000. I would say I am allowed to buy it - no one is providing it ;) I can call the company. While Aetna administers it, the company is self-insured.

For my work, I am self-employed.

I knew about the other boards and that they had little traffic. I can check with my financial advisor on HSA accounts but I was hoping someone had somewhere they recommended or had at least experience with.
Print the post Back To Top
No. of Recommendations: 1
I can call the company.

We've talked about this before. The company is the ONLY one who can tell you if this is a plan that qualifies you to make HSA contributions. The ONLY ONE. So talk to them.

Once you've got that nailed down, then you can think about finding an HSA provider.

--Peter
Print the post Back To Top
No. of Recommendations: 0
The company is the ONLY one who can tell you if this is a plan that qualifies you to make HSA contributions. The ONLY ONE. So talk to them.

I WILL. I should have limited my post to "Is this the right document that outlines the limits ?"

IT IS A NEW YEAR AND A DIFFERENT PLAN BUT I WILL BE SURE NOT TO ASK HERE AGAIN. OKAY ?
Print the post Back To Top
No. of Recommendations: 4
I'm sorry I keep harping on that issue. But my gut feeling is that you do not have an HSA qualified insurance arrangement. And without that, it doesn't really matter if you have the right document spelling out the 2013 HSA limits. You couldn't make a contribution anyway.

--Peter
Print the post Back To Top
No. of Recommendations: 0
I should have limited my post to "Is this the right document that outlines the limits ?"

Yes, that is the actual, authoritative citation to the 2013 HSA limits.

--Peter
Print the post Back To Top
Advertisement