Is HSA investing worth it? I always select the best insurance plan. While I don’t frequent the doctors office much, my theory is that I would rather pay a monthly premium and never have to worry about large medical bills. I’m contemplating changing to an HDP that has an HSA, I thankfully make enough money to be able to max out my 401k, IRA, HSA, and ESPP. What are your t…

Contributed to my old HSA instead of the new one I have a HDHP, but I accidentally contributed to an old HSA I had a few years ago. Am I allowed to do this? Will I still receive the same tax benefits? I also already used some of the money I contributed for a medical bill for my son’s pediatrician. Am I ok having done this? Do I need to do something to fix the problem? submitted by /u/Gr…

Am I making a mistake by not opening an HSA account? Disclaimer: I am aware of the immense amount of privilege I have. My parents paid for my undergrad, so I graduated debt-free. I quit my part-time job in college when it was job application season so I could focus on landing a great gig. I have an older brother in the same industry as me (tech) who coached me through interviews. I drive a (admitt…

Overfunding HSA Question I am likely going to have more out of pocket expenses in 2024 than the total amount that I am allowed to contribute to my HSA. If I over contribute, is the overage just considered income and taxed as such or is there an additional penalty for over contributing? Trying to determine if I need to open an additional savings account to put funds in t…

HSA Question for Someone Who’s Never Had One I work for a major health insurance company and this open enrollment season, I elected to switch from the copay only plan that I’ve had over the past two years to the low deductible plan. From my calculations, I’ve spent $3,642.00 OOP this year and $5,624.00 OOP last year. With switching to the low deductible plan with a $1,600.00 deductible fo…

HSA amount allowable? I had 3 jobs this year, all with a HDHP plan with HSA. – Job 1: Jan through mid june, individually covered by my job ($2175.05) – Job 2: mid June through age September, covering both my partner and I ($3203.52) – Laid off – Job 3: started nov 6, covering both my partner and I My partner had his own insurance through his job during my time at j1…

How do I handle an HSA? I have an old HSA with $120 in it from my old job. I do not currently have an HSA so it’s just sitting there. I am going to the dentist today actually and my co-pay is usually $35 so can I pay it myself, go on my hsa account tonight to reimburse myself, and then keep my receipt for tax time? Or is there a different way to do it? Since it’s such…

HSA vs PPO with baby on the way So my wife and I are expecting our first child at the end of January and like most people, I’m currently in open enrollment for benefits and I’m wanting to make the best decision for my family. I’m stuck between these two plans (see below), because to me, it seems the HSA is the best deal, but there’s more than likely someone out there smarter t…

Opening an HSA account on my own instead of my employer After learning more about the HSA account, I see how beneficial it is. I want to take advantage of contributing to it for 2023. My employer does not offer a HSA, only a FSA. It is possible to open up an HSA account outside of my employer and start one on my own? Thank you for the help! submitted by /u/RevolutionaryMap4745

Question about HSA and getting terminated If my last day of work, and also last day of health insurance, is 11/15/2023, should I max out my HSA before 11/15/2023 while I still have health insurance? submitted by /u/blueorangan

Should I opt into HSA again this year? HSA: Biweekly -$76 – 2000 ded/ 3850 max 20% for primary/specialist Plan contr 3650 with 500 company contribution PP: Biweekly-$107 – 750 ded/2000 max 20/40 for primary/specialist Last year I tried HSA and because i do use therapy I went over the deductible maybe couple months ago and then I was charged ~20$ per visit which is not bad. I guess I…

Should I spend money in a HSA at all? Say my medicine cost $50. If I pay with HSA then I’m using pre-taxed money and I have an extra $50 to invest. If I pay with cash then I can invest the $50 in my HSA instead. In the first case I’ll have to pay tax on capital gains when selling the stock, in the second case I won’t. Sounds like it’s better to keep the $50 inside my HSA and spend …

Can I rollover my HSA into a more optimal provider while still keeping my employer sponsored plan? Reached the the threshold to invest with my employer sponsored HSA, however the investment options are limited and frankly expensive. I still plan to stay with my employer for the near future, in the meanwhile can I rollover these funds into a Fidelity HSA or something for better investment options? (e.g., Low Fee Mutual Funds, Blue Chip Securit…

What to do with my $15k HSA I have an HSA with $15k in it. I built it up at a few jobs, rolled it over to an account at Fidelity, and have it all invested in something uninteresting. I don’t see myself using it again because I don’t see myself using a HDHP again. I was young and stupid, and skipped care I should have gotten so I could save those sweet tax-exempt dollars. N…

Flowchart criticism/question…Why is HSA so low in priority? First I want to say kudos to the mods for an excellent flowchart and for a very productive and useful subreddit…the following is meant with full respect. Why is the recommendation for contributing to an HSA come only AFTER contributing 15% to retirement accounts essentially prioritizing 401k/IRA over an HSA? I feel that an HSA is the best avai…

Is an HSA really worth it with such a high deductible? Hi! My company recently decided that our benefits were “too good” and they needed to scale back to match the industry standard (honestly they seem worse than all my friends with comparable jobs now..). My originally $0 premium $0 deductible, $15 copay EPO plan now turned into a $79/mo premium (So a ~$1000 decrease in my salary) with a $30 copay….

Choosing worse health insurance plan for a hsa ? I have an insurance plan with a $500 deductible which removes my eligibility for a hsa. I will hit my deductible in 1-2 months whenever the new year starts. Is it worth it for me to choose the plan that will cost me more money to get access to a hsa ? I’m currently saving for health retirement expenses in a taxable brokerage with my $500 deduct…

Health Savings Account (HSA) Can someone explain to me how HSAs work? I am a federal employee and open enrollment is coming up. I currently put money into an FSA through a PPO plan with BCBS. I like BCBS because it is easy to naviagte and a lot of providers accept it. However, I’ve been hearing about plans with HSAs and I’m interested to learn more. I do not have many healt…

HSA accounts: is it better to use them now, or leave them to invest? I have an HSA account thru my employer. It currently has $500 in it from a one time push in February. I’ve honestly never touched it. I have it’s debit card in my wallet, but I’ve never used it. For context, I’m in my late 20s. I make enough income, and budget aggressively enough, that paying for doctors appointments out of pocket, isn’t an issu…

HSA contribution limit increase for 2024 Just got an email at work reminding me about our upcoming open enrollment period. Just a reminder to those that are auto opted in each year….the contribution limit is increasing again for 2024 so remember to make that change if you are someone that maxes out your contributions. The HSA contribution limits for 2024 are $4,150 (up from $3,850) f…