Tagged With: HSA

The HSA testing period might have less downside than I thought

If you have an HSA (Health Savings Account)—and if you’re eligible, it’s probably a good idea to have one—you still have time to make your contributions count toward last year. Since HSAs are a great financial deal (only offset by the generally cruddy nature of the health care plans that enable you to have one) … Continue reading »

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The HSA “testing period”: The Sophie’s Choice of health care costs

Last time, I talked about the maximum contribution you can make to a Health Savings Account (HSA) each year. Contribute any more, and you pay a steep penalty. We don’t want to do that, but we do want to contribute the maximum we can. After all, this is pre-tax money, so it goes a lot … Continue reading »

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How much can you contribute to an HSA?

I have a pretty uninspiring health care plan. I guess you don’t appreciate what you have until you no longer have it. My previous job had excellent health care. Both medical and dental were top notch and cost next to nothing. I had a fair copay and almost never needed to pay beyond it. These days, instead … Continue reading »

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Can you use an HSA to save for retirement?

Last time, I talked about the health savings account (HSA), and how it offers an unprecedented triple-tax advantage: the money you contribute for qualified medical expenses is tax-free, grows tax-free, and can be withdrawn tax-free. It’s like your own little shell company in the Cayman Islands. Now, the important point here is that the HSA must … Continue reading »

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The investment hat trick: The health savings account (HSA)

When I started my new job, one of the items on my list was to sign up for an FSA (flexible spending account). Now I’ve talked about the FSA before. An FSA is great, in that you can put money away pre-tax to be used for healthcare-related expenses, and really frustrating, because you need to … Continue reading »

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