Obamacare possible repeal may birth a new retirement account (SOS)

[Jimbo101]

MSN

The end of the Affordable Care Act could mean the rise of a new kind of tax-advantaged investment plan: the Roth health savings account (HSA).

Republican Senators Bill Cassidy of Louisiana and Susan Collins of Maine have drafted a bill to create the Roth HSAs to help people pay health insurance premiums and out-of-pocket costs, as part of a plan to replace Obamacare.

Use HSASearch, which is run by Devenir, to comparison-shop for more than 320 providers. Most HSAs will require that you have at least $1,000 in the account before you can begin put money into investing options, such as stock and bond funds.

same old crap

[Squinch]

1. And if you happen to have a medical emergency in a year when the stock market goes down,

you're shit out of luck.

[still_one]

7. It is bullshit Squinch. People are going to die because of their garbage. Those on the ACA who

qualify for a subsidy, many won't be able to afford an HSA, and those who can won't save for both an HSA and IRA

Your point referring to if the account loses value is also a very valid point

They are going to inflict maximum pain on the working poor

[Squinch]

15. And let's not miss the administration fees that financial companies will charge for these

accounts, which is why the Republicans want them in the first place. Just another way to pick our pockets.

Honestly, they are the greediest, cruelest sons of bitches I have ever even heard of. You are right. People are going to die. You know it, I know it and THEY know it. And they can't give a shit.

[still_one]

2. They already have HSA. This isn't new, and it won't provide the coverage people need

How about Medicare for all if you really want to help people

Opps, bad assumption, they don't really want to help people

[SunSeeker]

3. This is a joke. It only helps the upper middle class and rich.

Last edited Mon Feb 20, 2017, 10:32 PM - Edit history (1)

In other words, it only helps people who can already afford private health insurance.

[still_one]

8. Exactly. They are so out of touch

[SunSeeker]

11. Yep. It's like Ivanka's bullshit childcare tax deduction plan. nt

[doc03]

4. Give our money to Wall Street to speculate with, what if you get

cancer the day the next meltdown comes? That's what happened to me when they liquidated
the company I worked for back in 2009. I was lucky I was old enough to get SS and my Defined Benefit Pension.
Many of the other employees weren't that fortunate.

[doc03]

5. Many people can't afford to put money in a 401K scam now they think you

have money to sink in a health insurance scam.

[still_one]

10. 401k, Roth, ira, etc. I would suspect the majority who qualify for a subsidy with the ACA, have

very little if any to put into a retirement plan

The republicans are awful people

[unblock]

6. i'm in the finance business and i don't understand the point of this one bit.

my current hsa lets me avoid taxes on medical expenses provided i have a high-deductible plan. hard to beat that.
obviously the drawback of this is that you have to have a high-deductible plan, which doesn't work for everyone.

in my case, my employer is wise enough to take advantage of tax laws for the benefit of its employees, so they fully fund the high deductible via a contribution into employees hsa's. this means everyone gets the full tax break, instead of getting the same money in the form of salary, which is taxable. i recognize that this is rare and few employers do that.

in any event, the roth hsa is meant to help people on lower-deductible plans. but it requires you to put after tax money in, and then lets you use it on medical expenses, but in this case including premiums. ok, wider applicability, but where's the tax advantage?

it seems you only get a tax advantage if you contribute enough to have money leftover, which can be invested and grow tax-free.


seriously, how many people is this helping? people of lesser means won't be able to save much of anything, certainly not enough to get much benefit from the tax break on invested excess savings. and people of greater means save plenty with a normal hsa.


the only people who maybe benefit are the people who are so well off they max out the benefit of a normal hsa and still have money leftover to invest.

maybe i answered my own question, of course, these are republicans we're talking about, only thinking of the really well off....

[Wellstone ruled]

9. Holy Hannah.

Like you,what the heck is this POS about other than a Propaganda Stunt. If one things anyone earning up to 50k or even 70k with a family can afford to set aside a Grand in some Roth account,which btw,you have to satisfy the 28% income tax up front before the Roth has any value. So you are looking at dumping 128 + into some account some where that you can not touch,give me a break.

[still_one]

12. Obviously it will help all those who make minimum wage

[taught_me_patience]

17. Spot on

I'm a big believer in HSAs for the majority of healthy adults... however this is crap. Since it is a roth, it is post-tax, thereby negating the tax benefit of the HSA. The only benefit to this is that it grows tax free, which is a minor help to most.

[VOX]

13. HSAs are horse-flop. Whatever you can save, medical bills are mammoth in comparison.

That, and funds are subject to market and overall economic vicissitudes.

Horrible idea, but consider the source.

[unblock]

14. Yeah my hsa is fully funded and I've got a huge backlog of eligible expenses

I say fully funded meaning I contribute the max, but immediately take it all out except for a $25 minimum balance to avoid fees.

[VOX]

18. Like trying to fill a bathtub with the stopper unplugged.

Easy come, easy go.

[rickford66]

16. My son's ER bill $14,000

Dirt bike accident. Before the ACA. We bargained with the ambulance and ER Doc but got stuck with the bill for 3 hours lying on a bed. It'll never get paid.