[nycphp-talk] Followup: Going weekly rate for phpdeveloper/coderinNYC these days?
mailinglists at caseysoftware.com
Thu Jan 18 14:52:45 EST 2007
On 1/18/07, Timothy Boyden <tboyden at supercoups.com> wrote:
> The other thing is if your working for yourself and you become disabled,
> you can't contribute to the HSA anymore so then how do the medical bills
> get paid?
That's what catastrophic insurance is for... sort of by definition.
Yes, you have to spend the money from your Health Savings Account on
medical expenses... sort of by definition. If you don't, you have to
pay taxes and a penalty... just like a 401k or IRA.
Yes, there are annual limits to how much you can put in. IIRC, you
can put in upwards of $9k/year. If you put more more than that, you
have to pay taxes on the extra... just like a 401k or IRA.
The point is that instead of putting that money down the drain in a
normal insurance policy, you have a growing fund that follows you
around. No, it's not for everyone. When I graduated from college, I
worked at a fed contractor here in DC where the average age was 47.
For these people, the existing group policy - which worked by
spreading the costs to the healthy 20-somethings - was a good idea and
an HSA would not have made sense.
For healthy 20 or 30-somethings, these plans make quite a bit of
sense.. and I would wager that the majority of people on this list fit
D. Keith Casey Jr.
CEO, CaseySoftware, LLC
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