Why Should I Use a Health Savings Account (HSA)?

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Comments

1. What was he referring to when he said to only put in extra money into the HSA after step 3?
2. Hello im Russian
3. Did he just said STUPID OBAMACARE? Whoooh? What's stupid about it? Just wondering and curious why he said that.
4. can i use my saved H.S.A money for personal use too? not towards medical use.
5. Basically I am paying $6,000 a year for me and my wife for health care. About $3,000 a year out of my pay and $3,000 deductible.
6. I wish the deductible was based on your income.
7. When Trump or Paul Ryan say they want to replace the ACA with "Health Savings Accounts" (HSAs), they are also saying they want to replace Obamacare or Medicare or Medicaid with YOU paying for your healthcare. That means YOU pay for chemotherapy... YOU pay for all surgeries and hospitalization... YOU pay for all your family's doctor visits, urgent care, ER visits, and prescription drugs out-of-our-pocket. A Health Savings Account is just a tax-free way for you to save up money to pay for your own medical bills. So if you are paying off college loans, or saving for a house down-payment, or simply living paycheck to paycheck, guess what -- a Health Savings Account does you no good, because you have no discretionary funds to deposit into it. And even if you manage to save five grand or ten grand in an HSA, that could all get wiped out in one hospital visit for you or a family member. Then you are back to square zero again. Even if you can supplement your HSA with affordable health insurance, you will be eating away at money that you should be investing for your retirement or your kids' college tuition. Only the top 3-5% of Americans can save enough for retirement, college AND their own out-of-pocket medical expenses. Therefore, the tax benefits of HSA's only help those people. Please call your Congressmember to protest this.
8. do you get offered an HSA? I thought you make your own HSA account which is blessed by our masters as being tax free?
   I think he means they are offering a HDHP?
9. 150K? If the limit per year/per person is $3350 this year, for example, how did the account accumulated that much?
10. My HSA offers investment into the market. If I invest, but then need the money (since I haven't yet built up much of a savings account), would the funds be locked into the market and unavailable?
11. They're a great resource, but every person should definitely do the math on their circumstances. If you're low-income, have an HDHP, and max your deductible and out of pocket limit every year, it can get expensive really fast. A lot of patient assistance programs can help solve this problem though. We use one where my husband's most expensive routine treatments are mostly reimbursed by the pharmaceutical company. If we time the treatments right, they end up paying our deductible and out of pocket limit for us. These programs can pair great with HDHP. Don't assume just because you have insurance that you aren't eligible. In fact, it's a requirement for many of them.
12. If I put a minimum amount of money into my HSA, my employer matches it. I saved money in mine for 4.5 years and used some of the money I saved to pay for the bills related to the birth of our son. My husband and I didn't have to use a penny of our emergency fund or try to save enough during my pregnancy to cover medical bills.
13. HSA is a super retirement account -> The only way to shelter your money from Federal Income Tax, State Income Tax AND Social Security Tax AND Medicare Tax. No other savings vehicle can hide your money from SS and medicare.
14. rachel cruze is like mom hot you know
15. hey guys, I'm in Australia, does anyone know if such insurance plans exist in AU?
16. There's a portion I'm still not understanding like he has 150k in his account but why? Yes it's untaxed but how does that grow interest? If it's just sitting there what makes it better than parking it in an savings account. I don't get taxed for my savings account.
17. "we offer a ppo but most have hsa". My ppo plan is hsa eligible! If only hsa plans you offer are hmo... no thanks.
18. so glad we have the NHS over here