Please add low cost index funds when you add investments. Preferably Vanguard.
Launch HN: Lively (YC W17) – 401(k) for Healthcare
61–65 of 65 posts
Re: Launch HN: Lively (YC W17) – 401(k) for Healthcare
#62Health Savings Accounts depress me. Its a complete admission that we will never have Healthcare in America as a public benefit. That said, I know I would realize tax savings by saving in an HSA. I refuse to do so because it acknowledges a position I do not agree with: that I should pay for overly expensive Healthcare
Some companies offer HSA match for individuals who get HDHP+HSA. The insurance costs for these plans are much cheaper compared to low deductible plans. So if you are a healthy person with predictable medical expenses and if your employer is contributing to your HSA and tax you save by contributing to your HSA, the HDHP+HSA might be cheaper compared to a traditional insurance.
My employer offers a high deductible plan and puts up to $750/yr into an HSA, no match required. This is cheaper for the organization, and often better than even a low deductible health plan for healthy people.
Re: Launch HN: Lively (YC W17) – 401(k) for Healthcare
#63Earlier quoted context omitted.
> We think individuals who have HSAs should be able to save their money without incurring a monthly fee. So many of our own family and friends have told us about how they have a small balance in their HSA account but are getting charged $3, $4, $5, etc. a month just for having that account. We don’t think that’s right so we won’t charge individuals for their basic HSA. There's plenty of zero cost options for HSA. If…
>I really wonder if most people get HSAs through their employers. Personally I don't know anyone that does. Everybody I know that has one set it up on their own. I have had all my HSA accounts through my employer, usually tied to my medical insurance (HDHP). Every time I switch employer or the insurance changes or the HSA provider changes, I consolidate the money from my older account to my new HSA account. IMO I thi…
Good question. That is functionality that we will be coming out with. We have some interesting ideas of making that experience more seamless than what is currently provided but are a couple months away from releasing that.
Re: Launch HN: Lively (YC W17) – 401(k) for Healthcare
#64Hope that does not replace Medicare!
No kidding. HSAs are great if you're healthy. Soon as you have a chronic condition or two where you need to see the doctor on a more than biannual basis, you see where they, and the rest of the insurance system really starts falling apart. A friend I have has several chronic illnesses and is on a pretty typical high deductible health insurance plan you get when you're making $15/hour. Because of this, she can't affor…
They are also worthless for the poor, who don't benefit from the reduced tax liability.
Re: Launch HN: Lively (YC W17) – 401(k) for Healthcare
#65Health Savings Accounts depress me. Its a complete admission that we will never have Healthcare in America as a public benefit. That said, I know I would realize tax savings by saving in an HSA. I refuse to do so because it acknowledges a position I do not agree with: that I should pay for overly expensive Healthcare
Politics aside, I think HSAs are great. Under a single payer system I would expect payroll taxes to be significantly higher (8-10%). You pay that every month even if you don't use it. In return you get free healthcare when you do use it. With HSAs in America, you save an amount equal to your tax bracket on expenses up to the lesser of your deductible (if plan pays 100% post-deductible) or the maximum HSA contribution…
Define great. Obviously they only benefit, as you kind of noted, people with disposable income. I mean you aren't dropping money into an HSA if you are living paycheck to paycheck. Do you really think we should have health programs that only profit our affluent citizens?