Table of Contents
HDHP isn't worth it for expenses above $700/year. HDHP starts at $1500, whereas non-HDHP you only pay $700/year. Which, given my level of seeing the doctor for various reasons (see below) might be worth it. https://lb31.resources.hewitt.com/ybr5dgp1cl5/ybr5dgp1cl5r2a/CsSmryPlnDsc010DtlOpen.do?fTkn=1a5c1e4edcf7c49d351b107a98e1e8dc&fWdw=primary&eWlmYBR5ClntId=04665&wdw=ansCntrLrg&fPg=%2FHmCvChg030DsclOpen&hTkn=538187b6b0451b2890f9747b6abfa94#
Enrollment 2018. healthplanelections_nofsa.pdf
65 years old
Can withdraw for any expenses without penalty, but you do need to pay income tax on it. So like Traditional IRA.
Can use for medical expenses with no taxes still too.
Limited Use FSA
Up to $500 each year transfers to next year. Usable for dental and vision. However doesn't transfer with you if you leave your employer.
HSA account
Cheapest seems to be with Fidelity. https://thehsareportcard.com/the-top-10-investor-hsas and https://thehsareportcard.com/fidelity-hsa
Fidelity
- Can transfer using this page: https://www.fidelity.com/customer-service/transfer-assets. No fee to transfer out of Health Equity.
- But maybe better next time to just use HealthEquity's form (http://resources.healthequity.com/Forms/Transfer_Request_Form.pdf). Less back and forth. They just send a check. HSA_partial_transfer_request_form.pdf in Dropbox is pre-filled, use Foxit. Although you don't need to anymore.
- Planning to sell everything in HealthEquity to cash (no taxes and makes it a lot simpler) and do trustee to trustee transfer of all cash except $25. Want to keep doing Health Equity via payroll deduction as no FICA taxes, etc.
Health Equity
- Keeps minimum of $1000 hostage in no interest bearing (for me) checking account, presumably to cover additional expenses of theirs.
- Also 0.36% yearly account management fee.
- While I could just make everything Fidelity, I would have to pay ~8% worth of social security and medicare tax, whereas with paycheck withholding you avoid it. <sigh> I guess I'll transfer every quarter or so.
Pay now or later?
If you choose to pay bills now with after-tax money, you can let the HSA grow unrestricted and untaxed in the future. It's even better than a Traditional IRA!
The bonus is that you can reimburse yourself later for the money you spent now, although that doesn't matter that much.
"Receipts"
Of bills paid using credit card and not HSA so you can reimburse yourself later.
Need to do 2015-2016 still.
| Date of Service | Topic | Amount |
|---|---|---|
| Feb 2017 | Dr. Bonta Dermatology | 154.04 |
| Feb 2017 | Face cream for Rosacea | 101.60 |
| Mar 2017 | Pilonidal Cyst | 15.49 |
| Sep 2017 | Health for Life appt | 7.35 |
| Sep 2017 | Advanced Blood Work | 35.38 |
| Sep 2017 | Echocardiogram | 1085.07 ouch! |
| Sep 2017 | Appt. with Dr. Goodwin (cardiologist) | 17.43 |
| Oct 2017 | Running EKG, then 48 hour EKG (ouch! Normally $2500 >.<) | 93.67 |
| Dec 2017 | Followup appt with Dr. Goodwin | 11.35 |
| Mar 2018 | Intel Office checkup for arm injury (Adam Frederick) | 118.00 |
| Nov 2018 | Dentist (normally don't have this bill?) | 16.50 |
| May 2019 | Dentist | $13 |
| Sep 2019 | Vivid Eye Care for left eye redness | $110 |
| Sep 2019 | Prescriptions for left eye redness | $23.11 |
| Sep 2019 | Japanese Encephalitis Vaccine #1 | $246 |
| Oct 2019 | Vivid Eye Care for left eye redness | $110 |
| Oct 2019 | Systane Complete 10ml | $15 |
| Nov 2019 | Vivid Eye Care exam n stuff | $80 |
| Dec 2019 | Phil Han Dentist | ~$19.40 |
| Dec 2019 | Acuvue Contacts (not reimbursed through insurance since bought at same time as glasses >.<) | $121.58 |
| ~Jun 2020 | Phil Han Denstst | Reimbursed from FSA |
| Jul 2020 | Eye Drops | $12.99 |
| Jul 2020 | Prescription anti-inflammatory | $6.99 |
| Aug 2020 | Urgent Care Lung Doctor | $250.19 |
| Aug 2020 | Urgent care room | $73.83 |
| Aug 2020 | Urgent Care x-ray radiologist interpretation | $19.07 |
| Nov 2020 | Eye Chalazion (meibomian gland swelling) visit and meds | $8.64 + |
Get Providence EOB's by using MyProvidence: https://myprovidence.healthtrioconnect.com/app/index.page
Get health “chart” and get/pay bills using MyChart: https://mychartor.providence.org/mychart/
- Need to wait a day or two for official bill to show up in Billing→Account Summary → Details → Communications
Want to check in a few days that statement showed up in communications. Really confusing that when bill was paid, everything disappeared about detailed information about the bill.
Dentist
Yikes, $300 for x-rays and a cleaning? Yep. $160 normally, $100 for cleaning and $60 for inspection by dentist.