Hello, I just required to know for those of you that have a Health Savings rationalization healthcare plan, are you saving a bit every month like your supposed to? anyone be doing this for the last 5 years or so and own a good amount contained by thier hsa? do you get to retire on that money when the time comes?
It seem like lots take the funds by switching then dont fund the pretax vindication, wanted to see if some of you can prove me wrong
Answers: I vend HSA's and almost all my clients invest money on a monthly font at least within the first year. They consider it part of the monthly expense for the insurance. At age 65 the money contained by the HSA can be spent on medical expenses tax free and can also be spent on any article you want, you would just hold to pay taxes matching way an IRA works. If you own an amount over the annual deductible you should invest the money in a mutual fund. Most HSA accounts own this investment feature. Since an HSA can be spent toll free at anytime on medical expenses HSA's are actually better than IRA's. I would fully fund my HSA every year beforehand I fund my IRA.
It seem like lots take the funds by switching then dont fund the pretax vindication, wanted to see if some of you can prove me wrong
Answers: I vend HSA's and almost all my clients invest money on a monthly font at least within the first year. They consider it part of the monthly expense for the insurance. At age 65 the money contained by the HSA can be spent on medical expenses tax free and can also be spent on any article you want, you would just hold to pay taxes matching way an IRA works. If you own an amount over the annual deductible you should invest the money in a mutual fund. Most HSA accounts own this investment feature. Since an HSA can be spent toll free at anytime on medical expenses HSA's are actually better than IRA's. I would fully fund my HSA every year beforehand I fund my IRA.