03-26-2017, 01:36 PM
(03-26-2017, 11:41 AM)fredtoast Wrote: Rep.
A savings fund is a great idea to use for health care as long as you know for sure that you will not need any health care until you have a lot of money saved. But what happens if you get sick or injured before you get any money saved up?
Like everything else, HSAs have their advantages and disadvantages. Like the $3400 annual limit for JustWinBaby's individual policy. That won't even pay for one month of care for a person with Alzheimer's.
Also, a payment of $500 for $20K worth of services wouldn't even cover the cost of the services being rendered.
Lastly, what JustWinBaby suggests is illegal. Medicare and other private insurances monitor stuff like that and it would trigger a Medicare investigation. Each individual case could result in an 11K fine, treble damages for violating the anti kickback and inducement laws, the provider could be barred from participating with Medicare, and it would permanently affect their credentials.
