Top 10 Benefits of having a Health Savings Account (HSA)

In this video, I step through what I believe are the top 10 benefits of having a Health Savings Account or HSA. For me, an HSA offers the combined pre-tax benefits of a traditional IRA or 401K along with the growth and withdrawal benefits of a ROTH IRA. In my opinion, a Health Savings Account is a win-win-win.
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Disclaimer: Nothing contained in this video should be construed as Financial or Medical Advice. I am not a financial or healthcare professional. This is my personal journey and these are just thoughts that ramble through my mind. Please make sure that you are working with a licensed financial professional when making your financial and/or retirement decisions and your healthcare provider to monitor your health and medications and to select the necessary course of treatment for your specific needs.

[@lpklpk447]

Thanks for the info 👍

[@retirementramblings]

Thanks for stopping by and commenting!

[@retirementcorner]

An HSA is an under used retirement asset I believe. I only had access to a health savings plan where the money didn't roll over Y/Y, you either used it or you lost it. If used properly it could be a big help especially early in retirement. Good for you in taking advantage of it. Steve

[@retirementramblings]

Steve: Lots of folks confuse an FSA with an HSA. The FSA expires usually about the end of the 1st quarter of the following year to allow you to submit your expenses for the prior year. On an HSA there is no limitation. Your company literally sets up an account for you usually in tandem with your Health Savings Account and then if you change insurance providers you get a new "custodian". I actually have 2 different HSAs. One that I originally setup when I had Anthem then a separate one when my company switched over to Aetna. I was able to keep the same one when my company switched again this year. While I don't invest my funds in mutual funds, etc. which you are allowed to do, I am perfectly comfortable just taking the standard piddly interest knowing I can access the funds tax-free whenever I need.
Thanks for stopping by the channel and commenting. I always appreciate your feedback.