I am an anesthesiologist in Mississippi. I work for a national/regional company. My company just redid their Health Insurance and are moving towards Blue Cross Blue Shield. My company pays my health insurance but offer to cover my family with my pre tax dollars. Right now I have individual BCBS insurance policies for my wife (30 yos old) and my two sons (4 months old and 3 years old).
So my understanding is: In order to qualify for HSA, I need to have qualifying high deductible policies for 2 of the 4 family members in my family. Am I understanding this correctly? If this is true, which family members would you suggest I do this with? I would think it would make the most sense to do this with the two children since they are healthy and have no issues currently.
So if the BCBS policy offered under my employer doesn't qualify me for an HSA, I should probably opt out of this policy and use High Deductible private policies which would qualify me for an HSA/stealth IRA, correct?
Of note, I currently contribute max of 18k in 401k, company contributes 4% match approximately 10k, and they contribute 10k in profit sharing (which has a vesting schedule). I also do back door roth IRA for myself each year. I am unable do do a back door Roth for my wife because she has a Sep-ira with a balance of ~$40k. '
Any help would be greatly appreciated.
Thanks.
So my understanding is: In order to qualify for HSA, I need to have qualifying high deductible policies for 2 of the 4 family members in my family. Am I understanding this correctly? If this is true, which family members would you suggest I do this with? I would think it would make the most sense to do this with the two children since they are healthy and have no issues currently.
So if the BCBS policy offered under my employer doesn't qualify me for an HSA, I should probably opt out of this policy and use High Deductible private policies which would qualify me for an HSA/stealth IRA, correct?
Of note, I currently contribute max of 18k in 401k, company contributes 4% match approximately 10k, and they contribute 10k in profit sharing (which has a vesting schedule). I also do back door roth IRA for myself each year. I am unable do do a back door Roth for my wife because she has a Sep-ira with a balance of ~$40k. '
Any help would be greatly appreciated.
Thanks.
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