Anyone know that beside the TSP that you are not pay tax, there are Health Plans that you can save a lot of $ on your health insurance (& from IRS) as the health plans contribution up to 85.96% ($1,800 - $2,500) for family and 95.35% ($500 - $1,200) for single depend on the plan you choose or the plan that is available for you. Beside the plans contribution– you may contribute up to $5,150 for family and $2,500 for single to the accounts before tax or tax free. The combine of the plans contribution and your contribution can not exceed the amounts of $6,150 for family and $3,050 for single in 2010. The $ in the account is for you to use for anything related to medical expense and keep even after you change to different health plan. By the time of retirement and need the $ for what ever reason for none medical purpose - just withdraw and pay tax as your income for that amounts.
The $ in the accounts you can invest in JP Morgan Mutual Fund (similar to TSP) when your account has more than $2K. THIS IS CALL HIGH DEDUCTIBLE HEALTH PLANS with HEALTH SAVINGS ACCOUNTS. As this is HIGH DEDUCTIBLE – You must be able to save up for the first two years to cover the deductible as for in-network the deductible the amounts are $2,500 to $6,000 for family and $1,150 to $3,000 for single and expect more for out of network.
For those of you that know OR expecting something such as pregnant or major surgery - by the end of the year change to what ever plans you like, then switch back to HDHP later year to save extra $ from deductible on your HSA.
As I paid $38.71 per month for family plans in 2010 after plan contribution of $125 to my HSA.
Here is the website for additional info: http://www.opm.gov/insure/health/hsa/hd ... tion.asp#1
HIGH DEDUCTIBLE HEALTH PLANS
Moderator: Aitrus
HIGH DEDUCTIBLE HEALTH PLANS
What is going to happen to HDHP with national health insurance bill as it will cut in the amount of FSA to half ($2,500) in 2013 and over the counter medicines no longer qualify for reimbursement next year unless prescribed by a doctor.
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Fund Prices2024-04-18
| Fund | Price | Day | YTD |
| G | $18.19 | 0.01% | 1.27% |
| F | $18.62 | -0.30% | -3.14% |
| C | $78.45 | -0.21% | 5.50% |
| S | $76.12 | -0.20% | -1.27% |
| I | $40.67 | 0.02% | 1.21% |
| L2065 | $15.58 | -0.13% | 3.04% |
| L2060 | $15.58 | -0.13% | 3.04% |
| L2055 | $15.58 | -0.13% | 3.04% |
| L2050 | $31.35 | -0.13% | 2.44% |
| L2045 | $14.32 | -0.12% | 2.35% |
| L2040 | $52.37 | -0.11% | 2.29% |
| L2035 | $13.85 | -0.10% | 2.21% |
| L2030 | $46.21 | -0.09% | 2.15% |
| L2025 | $12.93 | -0.05% | 1.72% |
| Linc | $25.28 | -0.04% | 1.51% |