Skip to comments.Health care HSA changes result in higher taxes for all
Posted on 03/25/2010 6:02:30 PM PDT by Steve495
HSAs - before ObamaCare allowed individuals to put aside money to pay for qualified medical expenses including over-the-counter (OTC) medications on a tax free basis. Frequently, companies match or at least contribute to an employees HSA. (Unlike FSAs, you are able to keep the money year to year and even invest the money!)
This benefit has changed.
(Excerpt) Read more at radioviceonline.com ...
We have a HSA and to be honest I never knew I could pay for things like that with funds from the HSA. I just paid for them althought my husband and I are not pill takers. We usually just suffer until we feel better! Luckily we don’t take any prescription except for the occasional antibiotic. I had actually thought they might do away with the HSA’s altogether.
We have two members of my family using them. They are great.
Oh yeah. You could save significant money on OTC medications, especially if you have kids that go through Children’s Tylenol and such.
You can also use HSA dollars for many other medical expenses even bandages and hearing aid batteries.
You had to plan in advance a little, ensuring you break out the qualified expenses from your other shopping items and pay for them with your HSA debit card.
Take a look at your CVS, Target and maybe even Walmart receipts. Some even tell you what items qualify and it gives you a total so you can pull that money directly from the account.
List of (what used to be) qualified medical expenses directly from the IRS...
With a "Letter of Need" some MD's,Osteopaths, even Psychiatrist using natural products going the natural route could give you this letter and your FSA's HSA's dollars would be valid for these expenses.
Kiss this little niche good-bye...
And you realize the real plan is to get rid of HSAs and FSAs right?
One other thing I didn't mention: I enjoy being in control of my expenses with my own saved pre-tax money. And of course, being responsible for our health needs and not having to put up with multiple financially-interested parties is a satisfying freedom of it's own.
I can't even say aloud what I truly think, without risk of the banhammer.
The more you dig into this bill, the more you realize that it doesn’t have much to do with health. It’s all about (a) control, and (b) spreading the wealth. Which leads me to believe that it is just a path to socialism.
We need to Impeach this socialist. what happened to the America we all grew up with?
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