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Health Savings Account Plan Reviews Question & Answers

2014 June 8
by Sarah Fields

Laura asks…

what is the best health insurance and affordable in arizona?

for mom and a daughter

Sarah Fields answers:

We are licensed to provide health insurance in Arizona. I personally like Golden Rule and Blue Cross / Blue Shield of Arizona. Depending on your income, you might want to look at Health Savings Account qualified plans. They allow you to put away tax free $$ into an account that you can use to pay for qualified medical expenses while you are in your deductible period.

You can get free quotes from us by using the below link, but do not purchase anything w/o a thorough review from an agent/broker.

Lisa asks…

My insurance company screwed up my HSA/HDHP. What should I do?

My health insurance company signed me up for the wrong plan, even though I submitted the correct paperwork for a High Deductible Health Plan. I contributed to a Health Savings Account for over a year before I found out the mistake. All my contributions were after tax on my paycheck, but I claimed my HSA on my tax return. My insurance company tells me that it is my mistake for using the health coverage. What should I do??

Sarah Fields answers:

Your health insurance company cannot change the paperwork that you submit to them.

An HSA is completely different from a high deductible health insurance policy.

You should purchase your insurance, through an AGENT, who can help you clarify terms, and who will verify paperwork before you send it in, and make sure the insurance company issues the correct coverage. You must have done “do it yourself” insurance, and you must NOT have reviewed the policy your insurance company sent you. So clearly, you should be using an agent.

It’s too late to fix LAST year’s coverage.

Paul asks…

What are all the things that the current administration has done that you don’t agree (be specific & not rude)?

Sarah Fields answers:

The things he did not do mostly.

Not raised taxes on the wealthy
No. 24: End income tax for seniors making less than $50,000

No. 30: End no-bid contracts above $25,000
“Will ensure that federal contracts over $25,000 are competitively bid.”>>More

No. 71: Allow imported prescription drugs

No. 221: Double the Peace Corps
“Barack Obama will double the Peace Corps to 16,000 by its 50th anniversary in 2011 and push Congress to fully fund this expansion, with a focus on Latin America and the Caribbean.”>>More

No. 234: Allow five days of public comment before signing bills
To reduce bills rushed through Congress and to the president before the public has the opportunity to review them, Obama “will not sign any non-emergency bill without giving the American public an opportunity to review and comment on the White House website for five days.”>>More

No. 240: Tougher rules against revolving door for lobbyists and former officials

No. 249: Double funding for afterschool programs
“Will double funding for the main federal support for afterschool programs, the 21st Century Learning Centers program, to serve one million more children.”>>More

No. 292: Urge states to treat same-sex couples with full equality in their family and adoption laws
As president, “will use the bully pulpit to urge states to treat same-sex couples with full equality in their family and adoption laws.”>>More

No. 313: Allow bankruptcy judges to modify terms of a home mortgage

No. 331: Re-establish the National Aeronautics and Space Council

No. 339: Support human mission to moon by 2020
Will “endorse the goal of sending human missions to the Moon by 2020, as a precursor in an orderly progression to missions to more distant destinations, including Mars.”>>More

No. 379: Pay for the national service plan without increasing the deficit
“Will maintain fiscal responsibility and prevent any increase in the deficit by offsetting cuts and revenue sources in other parts of the government (to pay for a national service plan that will cost about $3.5 billion per year when it is fully implemented). This plan will be paid for in part by cancelling tax provisions that would otherwise help multinational corporations pay less in U.S. Taxes starting in 2008 by reallocating tax deductions for interest expenses between income earned in the U.S. And income earned abroad. The rest of the plan will be funded using a small portion of the savings associated with ending the war in Iraq.”>>More

No. 431: Reduce earmarks to 1994 levels
“Barack Obama is committed to returning earmarks to less than $7.8 billion a year, the level they were at before 1994.”>>More

No. 491: Provide an annual report on “state of our energy future”
“I will report to the American people every year on the State of our Energy Future.”>>More

No. 508: Allow penalty-free hardship withdrawals from retirement accounts in 2008 and 2009
“Obama and Biden are calling for legislation that would allow withdrawals of 15% up to $10,000 from retirement accounts without penalty (although subject to the normal taxes). This would apply to withdrawals in 2008 (including retroactively) and 2009.”>>More

No. 511: Recognize the Armenian genocide
“Two years ago, I criticized the Secretary of State for the firing of U.S. Ambassador to Armenia, John Evans, after he properly used the term ‘genocide’ to describe Turkey’s slaughter of thousands of Armenians starting in 1915. … as President I will recognize the Armenian Genocide.”>>More

No. 517: Negotiate health care reform in public sessions televised on C-SPAN
To achieve health care reform, “I’m going to have all the negotiations around a big table. We’ll have doctors and nurses and hospital administrators. Insurance companies, drug companies — they’ll get a seat at the table, they just won’t be able to buy every chair. But what we will do is, we’ll have the negotiations televised on C-SPAN, so that people can see who is making arguments on behalf of their constituents, and who are making arguments on behalf of the drug companies or the insurance companies. And so, that approach, I think is what is going to allow people to stay involved in this process.”>>More

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