Launch HN: Savvy (YC W20) – Give employees tax-free cash for health insurance

Re:Launch HN: Savvy (YC W20) – Give employees tax-free cash ... by elif on Monday March 09, 2020 @03:31PM (#22528853)

What's to stop me from receiving a $500 benefit tax-free and buying a $250 plan?

[ Parent | on HN ]

Re:Launch HN: Savvy (YC W20) – Give employees tax-free cash ... by kevc on Monday March 09, 2020 @03:40PM (#22528948)

The money your employer gives you can only be spent on insurance or medical expenses. So in your example you can buy the $250 plan and have $250 / month leftover to pay for prescriptions, doctor visits, or other medical expenses. You wouldn't be able to pocket the remainder as cash.

[ Parent | on HN ]

Re:Launch HN: Savvy (YC W20) – Give employees tax-free cash ... by phantom784 on Monday March 09, 2020 @03:38PM (#22528927)

I'd think you should be able to do that and put whatever is leftover in an HSA.

[ Parent | on HN ]

Re:Launch HN: Savvy (YC W20) – Give employees tax-free cash ... by kevc on Monday March 09, 2020 @03:41PM (#22528963)

Correct, employers can pair their insurance reimbursements with HSA contributions if they wish.

[ Parent | on HN ]