Comments on: Rundown 11/9 http://www.hereandnow.org/2009/11/rundown-119-2/ National and international news analysis, film, theater, music and more, from WBUR and PRI Fri, 19 Mar 2010 22:26:37 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: Anthony Dickerson http://www.hereandnow.org/2009/11/rundown-119-2/comment-page-1/#comment-3488 Anthony Dickerson Tue, 10 Nov 2009 02:06:39 +0000 http://www.hereandnow.org/?p=3684#comment-3488 Great to here a story about Orange. It's where I grew up and although I have not lived there for 10 years it brings back memories of the places described. Great to here a story about Orange. It’s where I grew up and although I have not lived there for 10 years it brings back memories of the places described.

]]> By: Robin Young http://www.hereandnow.org/2009/11/rundown-119-2/comment-page-1/#comment-3487 Robin Young Mon, 09 Nov 2009 20:56:29 +0000 http://www.hereandnow.org/?p=3684#comment-3487 ARRRGHHHH Eileen you're correct. The health savings account is offered with many high deductible plans and rolls over. The flexible SPENDING account does NOT roll over (hence, it's a spending rather than savings plan!) you have to save receipts and carefully plan your health care to spend it all in one year. Sorry!!! AND WE TRIED SO HARD! Robin ARRRGHHHH

Eileen you’re correct.

The health savings account is offered with many high deductible plans and rolls over.

The flexible SPENDING account does NOT roll over
(hence, it’s a spending rather than savings plan!)
you have to save receipts and carefully plan your health care to spend it all in one year.

Sorry!!! AND WE TRIED SO HARD!

Robin

]]> By: BHA http://www.hereandnow.org/2009/11/rundown-119-2/comment-page-1/#comment-3486 BHA Mon, 09 Nov 2009 18:41:41 +0000 http://www.hereandnow.org/?p=3684#comment-3486 Regarding 'use it or lose it' pre-tax medical accounts. People should remember that they have a 'marginal tax rate'. Even if you 'lose' some pre-tax money, if it is less than the tax you WOULD have paid on the money, you have 'lost' nothing. For example, if you put in $5,000 and spend only $4,500 and your marginal tax rate is 28%, the tax you DIDN'T pay is $1,400. The 'lost' $500 is actually $900 in your pocket compared to not having the account at all. You don't want your spending to overshoot your marginal tax rate. At the VERY least, put in enough to cover medications you KNOW you will buy. Add in the minimum you know you will pay at the dentist, for vision care and any other 'recurring' medical expenses based on prior year expenses. Regarding ‘use it or lose it’ pre-tax medical accounts. People should remember that they have a ‘marginal tax rate’. Even if you ‘lose’ some pre-tax money, if it is less than the tax you WOULD have paid on the money, you have ‘lost’ nothing.

For example, if you put in $5,000 and spend only $4,500 and your marginal tax rate is 28%, the tax you DIDN’T pay is $1,400. The ‘lost’ $500 is actually $900 in your pocket compared to not having the account at all.

You don’t want your spending to overshoot your marginal tax rate. At the VERY least, put in enough to cover medications you KNOW you will buy. Add in the minimum you know you will pay at the dentist, for vision care and any other ‘recurring’ medical expenses based on prior year expenses.

]]> By: Eileen Odell http://www.hereandnow.org/2009/11/rundown-119-2/comment-page-1/#comment-3485 Eileen Odell Mon, 09 Nov 2009 18:34:16 +0000 http://www.hereandnow.org/?p=3684#comment-3485 Good discussion of health insurance options but please clarify the difference between the healthcare savings account and the flexible SPENDING account to which Robin repeatedly referred as the flexible SAVINGS account, possibly leading to misunderstanding by listeners despite good explanation of both options. Thanks! Good discussion of health insurance options but please clarify the difference between the healthcare savings account and the flexible SPENDING account to which Robin repeatedly referred as the flexible SAVINGS account, possibly leading to misunderstanding by listeners despite good explanation of both options.
Thanks!

]]> By: Stephen Graham http://www.hereandnow.org/2009/11/rundown-119-2/comment-page-1/#comment-3484 Stephen Graham Mon, 09 Nov 2009 17:43:02 +0000 http://www.hereandnow.org/?p=3684#comment-3484 Your story about employees having to scrutinize their health plans begs the question: doesn't that just mean the insurers will lose profits and just raise their rates? That's what they've been doing right along and it won't stop by us being smarter about our choices. They simply will raise the rates to sustain their profits because they can. It's what they've done all along and what they will do so long as the present system is in place. Even if this health care round fails to reform anything, these spiraling costs will just create another crisis in the future. The lid on the proverbial, boiling pot has to blow up eventually. Your story about employees having to scrutinize their health plans begs the question: doesn’t that just mean the insurers will lose profits and just raise their rates? That’s what they’ve been doing right along and it won’t stop by us being smarter about our choices. They simply will raise the rates to sustain their profits because they can. It’s what they’ve done all along and what they will do so long as the present system is in place. Even if this health care round fails to reform anything, these spiraling costs will just create another crisis in the future. The lid on the proverbial, boiling pot has to blow up eventually.

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