TheHaitian
Senior Associate
Joined: Jul 27, 2014 19:39:10 GMT -5
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Post by TheHaitian on Jan 18, 2017 4:14:13 GMT -5
Our deductible is 3k/year and we've hit it last year and we already 100% hit it this year already! But trying to pay it all out of pocket and let the HSA grow... but it definitely require some belt tightening...
According to my Phil Script, a yearly investment of $6,750.00 bearing an annual return of 11% could grow to $1,491,163.93 in 30 years!
My current HSA is with Bank of America. They keep $1,000 cash and the rest is invested in VANG 500 INDEX ADM.
Hopefully no one messes with it!
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TheHaitian
Senior Associate
Joined: Jul 27, 2014 19:39:10 GMT -5
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Post by TheHaitian on Jan 18, 2017 4:20:02 GMT -5
Shoot, we've hit our $5,000 OOP for the last four years and will again this year. As fast as money goes in it comes right back out to pay the bills. We might follow in your footsteps lol and I am scared! It will definitely test my resolution of keeping it invested! -> We hit it last year (2016), we already hit it this year (2017), if we move with our plan in trying again by next year with IVF we will hit it then (2018) and if baby is born in 2019 (God willing, knock on wood) we would hit it then too. Yes we are crazy but if we are going for 2 we want to keep them close in age 2-3 years apart. |
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Deleted
Joined: Oct 14, 2024 19:27:12 GMT -5
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Post by Deleted on Jan 18, 2017 6:25:19 GMT -5
It's not just deductible. Your plan can't pay anything besides mandatory annual preventative medicine before you hit your deductible. Ie. If you have a co pay at the doctor, then your plan isn't eligible.
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naughtybear
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Post by naughtybear on Jan 18, 2017 8:20:38 GMT -5
Yeah that is what I was reading too but that doesn't seem to be the case either. It seems that is has to be a true HD plan meaning that NOTHING is covered until the ded is met but then I read that to be ACA compliant some preventative care should be covered. I should actually correct myself and say ded and OOP is what are the most obvious factors, but that ded figure is what is driving the HSA eligible from what I can see.
I should add that I could probably get away with opening an HSA with a lower ded plan ie like 1300 as like in non ACA plans. It is the filtering on the website that clued me into this and made me look into it.
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naughtybear
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Post by naughtybear on Jan 18, 2017 8:49:05 GMT -5
If you guys can come up with clearer info then it would be appreciated because I am just so confused about it. I just wanted to do what the OP wants to do, that's all I wanted. |
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Sam_2.0
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Joined: Dec 19, 2010 15:42:45 GMT -5
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Post by Sam_2.0 on Jan 18, 2017 9:36:31 GMT -5
Shoot, we've hit our $5,000 OOP for the last four years and will again this year. As fast as money goes in it comes right back out to pay the bills. We might follow in your footsteps lol and I am scared! It will definitely test my resolution of keeping it invested! -> We hit it last year (2016), we already hit it this year (2017), if we move with our plan in trying again by next year with IVF we will hit it then (2018) and if baby is born in 2019 (God willing, knock on wood) we would hit it then too. Yes we are crazy but if we are going for 2 we want to keep them close in age 2-3 years apart. If 2017 can be the year we finally don't go further into debt I will be a super happy lady. We almost made it for 2016 but then I had to put my car in a ditch and set us back $20k  |
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TheHaitian
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Joined: Jul 27, 2014 19:39:10 GMT -5
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Post by TheHaitian on Jan 18, 2017 9:52:01 GMT -5
We might follow in your footsteps lol and I am scared! It will definitely test my resolution of keeping it invested! -> We hit it last year (2016), we already hit it this year (2017), if we move with our plan in trying again by next year with IVF we will hit it then (2018) and if baby is born in 2019 (God willing, knock on wood) we would hit it then too. Yes we are crazy but if we are going for 2 we want to keep them close in age 2-3 years apart. If 2017 can be the year we finally don't go further into debt I will be a super happy lady. We almost made it for 2016 but then I had to put my car in a ditch and set us back $20k Hey as long as we keep trying that is all we can! At least you did not increase your total debt balance by 250k 😱😱 |
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973beachbum
Senior Associate
Politics Admin
Joined: Dec 17, 2010 16:12:13 GMT -5
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Post by 973beachbum on Jan 18, 2017 10:02:40 GMT -5
The deductible would not be why they aren't hsa eligible then. There's more requirements then just the deductible. I'm pretty sure the ded has to include everything even Rx's. That was a stumbling block for us. We could find the high Ded plan but they all came with Rx plans and that made them HSA ineligible. |
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gs11rmb
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Joined: Dec 21, 2010 12:43:39 GMT -5
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Post by gs11rmb on Jan 18, 2017 12:10:09 GMT -5
Shoot, we've hit our $5,000 OOP for the last four years and will again this year. As fast as money goes in it comes right back out to pay the bills. We might follow in your footsteps lol and I am scared! It will definitely test my resolution of keeping it invested! -> We hit it last year (2016), we already hit it this year (2017), if we move with our plan in trying again by next year with IVF we will hit it then (2018) and if baby is born in 2019 (God willing, knock on wood) we would hit it then too. Yes we are crazy but if we are going for 2 we want to keep them close in age 2-3 years apart. Has your wife had the baby yet? |
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naughtybear
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Post by naughtybear on Jan 18, 2017 12:52:42 GMT -5
You made that choice mate to do that, no-one forced you. |
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Sam_2.0
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Joined: Dec 19, 2010 15:42:45 GMT -5
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Post by Sam_2.0 on Jan 18, 2017 16:31:37 GMT -5
We might follow in your footsteps lol and I am scared! It will definitely test my resolution of keeping it invested! -> We hit it last year (2016), we already hit it this year (2017), if we move with our plan in trying again by next year with IVF we will hit it then (2018) and if baby is born in 2019 (God willing, knock on wood) we would hit it then too. Yes we are crazy but if we are going for 2 we want to keep them close in age 2-3 years apart. Has your wife had the baby yet? Psst - go stalk the kids' thread on WIR  |
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gs11rmb
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Joined: Dec 21, 2010 12:43:39 GMT -5
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Post by gs11rmb on Jan 19, 2017 9:09:12 GMT -5
Has your wife had the baby yet? Psst - go stalk the kids' thread on WIR Ha! I only ever read YM and YM-Off Topic. I looked in on the politics thread just before the election and I think I'm scarred for life! |
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Sam_2.0
Senior Associate
Joined: Dec 19, 2010 15:42:45 GMT -5
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Post by Sam_2.0 on Jan 19, 2017 9:12:59 GMT -5
gs11rmb - Come join the kids thread!! You'd like it there
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quince
Senior Member
Joined: Sept 23, 2011 17:51:12 GMT -5
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Post by quince on Jan 19, 2017 18:10:59 GMT -5
Shoot, we've hit our $5,000 OOP for the last four years and will again this year. As fast as money goes in it comes right back out to pay the bills. We might follow in your footsteps lol and I am scared! It will definitely test my resolution of keeping it invested! -> We hit it last year (2016), we already hit it this year (2017), if we move with our plan in trying again by next year with IVF we will hit it then (2018) and if baby is born in 2019 (God willing, knock on wood) we would hit it then too. Yes we are crazy but if we are going for 2 we want to keep them close in age 2-3 years apart. Trying again plans yay! |
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