Home Health HSA 101 + $100 Gift Card Giveaway

HSA 101 + $100 Gift Card Giveaway

by Erik

HSA. FSA. HRA. Do you know what those are? If you are like most Americans, you probably have an inkling of what one or two of them are. Now the fun part. Even if you know what they are, do you know how they differ? Do you know what you can use them for and who pays for them and who gets to keep the money in them? Having had all three at one time or another I am very familiar with all their intricacies, but if you aren’t then you need to check out HSA 101 from UnitedHealthcare.

HSA

Now I have to say my all-time favorite was when we had an HRA (Health Reimbursement account) through my wife’s employer. This paired up with our high-deductible health plan and her employer basically funded the account with enough money to fully cover the deductible each year. That was a great deal. To quote a movie I like (about the only part of it I can quote in public) “It’s like free money.”

There were down sides to it however. First of all, not a lot of employers offer an HRA. Second, you are limited to what the employer puts in, and their schedule. So if they only put $100 in the account you can’t add to it. Third, we had to justify every single thing we used it for. Every doctor visit we had to send in a copy of the EOB. Every prescription we filled we had to send in the receipt. It was a constant, never-ending barrage of paperwork. Fourth, it’s not your money, so you leave, the money stays.

OK, the more I think about it; maybe I didn’t like the HRA that much. Yeah, I’m going to revise that statement. The HSA (Health Savings Account) is definitely my favorite. Let me tell you why.

For starters it is tax free. You put money in tax free. It grows tax free (yes, they gain interest and have investment options). You spend it tax free, as long as it’s a medical expense. No you do not get to use the money to buy a car. Second, it’s my money and it never goes away. There is no “use it or lose it” like there is with an FSA or can be with an HRA. If I am lucky enough to have $5000 in the account on December 31, it’s still there on January 1. If I leave a company, the money in that account is still mine, still tax-free. Still available for medical needs and it will move with me to the next job. My employer can’t take it back. It’s ALL MINE. MWUHAHAHAHA!! Sorry, I got a little carried away there.

HSA

The point is, if you have a High-Deductible Health Plan you need to look into getting an HSA if you don’t already have one. So if you want to learn more about HSA’s and get the chance to win gift cards then you definitely need you head on over to the HSA 101 site at UnitedHealthcare to enter for your chance to win a weekly $100 gift card or a monthly $500 gift card. Be sure to enter Promo Code “PinkNinjaBlog” to actually be entered. You will not be entered into the giveaway if you don’t use the promo code on the site…the sponsor will be verifying the winner. And while you’re at it, did you check out our article last month on the Quick Care Quiz? That giveaway is still going. I’ve said it before. How often is someone willing to give you money to teach you something? It’s not often, so take advantage of it while you can.

Check out this handy guide UnitedHealthcare has put up to show you the differences between an HSA, an HRA and an FSA. Then go complete the HSA 101 Quiz (be sure to use promo code “PinkNinjaBlog”) to be entered to win a gift card. Then come back here and enter OUR giveaway for a chance at another gift card.

 

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GIVEAWAY

ONE lucky reader will win a $100 Amazon Gift Card!

Be sure to come back daily and pick up your daily entries ~ this increases your chances of winning.

This giveaway is open to residents of the United States who are 18 years or older.

The giveaway will run through Tuesday, January 31, 2017 at 11:59 PM EST

Enter using the easy Giveaway Tools below.

Good luck!

 

Giveaway Disclaimer: We are not associated with any of the companies named above. No purchase is necessary to enter. Void where prohibited by law. Odds of winning based on the number of entries received Open to US 18+ only. Confirmed Winner(s) (by Giveaway Tools) will be contacted by email. Winner(s) have 48 hours to respond before a new winner is chosen. No purchase necessary. Void where prohibited by law. The sponsor will be responsible for product shipment to winner(s) of this giveaway. My blog is not responsible for product shipment/delivery. This event is in no way administered, sponsored, or endorsed by, or associated with, Facebook and/or Twitter, Google, or Pinterest. This disclosure is done in accordance with the Federal Trade Commission 10 CFR, Part 255 Guides Concerning the Use of Endorsements and Testimonials in Advertising.

Disclaimer: This post is written in collaboration with UnitedHealthcare. Regardless, all opinions expressed are still 100% my own.

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7 comments

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Mary Gardner January 6, 2017 - 11:07 am

I learned that a 24 hour nurse call is a free service.

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Kimberly “kaflickinger73” Flickinger January 6, 2017 - 6:26 pm

I learned what is involved in the plan and what it covers.

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Karen Glatt January 7, 2017 - 9:06 am

I learned that calling the Nurse does not cost any money and I can get help with my help problem that I am having. I also can get virtual visits to help me with minor health issues for a small price.

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Pamela Gurganus January 7, 2017 - 4:24 pm

I learned that by combining a health savings account (HSA) with an eligible health insurance plan allows me to pay for qualified medical expenses tax-free.

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AnnaZed January 14, 2017 - 8:12 pm

I read that HSA plans offer lower monthly premiums.

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brandyv725 January 15, 2017 - 4:53 pm

I was reminded deposits are tax free. I used to use HSA many years ago

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Jennifer Bellotti January 25, 2017 - 9:08 am

I learned that the HSA Plans offer lower monthly cost and calling a nurse does not cost money.

Reply

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