Does anyone know if retirees still get the hsa reimbursement money? Haven’t heard or seen anything about it?
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Here is the link to the retiree benefits
https://fordretireebenefits.com/index.html
Just wondering if Ford is stilling giving the $500 per person per month for retiree health? I should of worded it better. Thanks!
Ford of Canada. You get an HCSA of $2000 or $4000 for you and spouse. If your kids are still in school and under 25 you can put in claims for them.
No issues for me and I’m almost 5 months retired.
You can only take tax credit or HRA not both. For the tax credit to be your cheaper option, you must not have any/very little income (4x the property level).
Anyone that has a monthly pension will not qualify so you use the HRA, which is also allowed on COBRA or Marketplace insurance.
COBRA is cheaper and the deductible/out of pocket max is less than half of similar plans on Marketplace. Plus, if you want dental or vision, Marketplace costs as much as the limited benefits you get.
Cobra is NOT necessarily cheaper. I will save significantly more money by declining the Company's HRA money and using Tax Credits to buy insurance on the Affordable Care Act Marketplace. I'll pay any allowable medical expenses using my HSA.
I think you mean HRA, Health Reimbursement Arrangement. Yes, Retiree's still get that.
The post that says "my husband attended a presentation.." is full of misinformation.
The short answer is yes, you can still use HSA to pay for medical expenses as a retiree. If you have the right plan, you also can also continue to contribute until age 65. The answer that you can use for cancer treatment is total cr-p. Been there, done that.
HRA are separate and can be used to pay for premiums but not expenses .6066
Pre 65 you get a stipend called Pre HRA. Best to take Cobra coverage for max 18 months then use Viabenefits to shop marketplace. Pre HRA dollars can be used for health, dental and vision. Does not roll over. After 65 it a whole different game. Cobra is best deal going as you keep what you have for 102% cost.
Yes. My spouse attended an information presentation. The hsa is available but it is limited, really limited. It can be used only if the retiree gets health insurance through the marketplace. ie: the retiree can't use it if they're covered by a spouse's health insurance. And the hsa will not cover cancer or knee replacement. For those to be covered the retiree would have to buy additional insurance through the marketplace. And the hsa will not reimburse the cost of premiums.
Yes, they do.