Im 34, self employed, married and have a 5,000 deductable. (no kids) I never go to the Doctor (I know this could change in a second). Why would I not want to max out an HSA every year.

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Posted by MG

New Orleans

Member since Dec 2007

275 posts

Posted on 1/20/14 at 2:40 pm to Duckman13

No reason not to max it out. You'll thank yourself when you have kids that you have Thousands in an HSA.

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Posted by rmc

Truth or Consequences

Member since Sep 2004

26554 posts

Posted on 1/20/14 at 2:48 pm to Duckman13

It can also act as another tax deferred IRA. A lot of HSA account providers have investment vehicles that you can utilize. I think HSAbank.com allows you to use TD Ameritrade to trade a lot of stuff. At 65, you can withdraw the money penalty free (not tax free -- you've never been taxed on it).

LINK

This post was edited on 1/20/14 at 2:49 pm

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Posted by Ole War Skule

North Shore

Member since Sep 2003

3409 posts

Posted on 1/21/14 at 8:29 am to Duckman13

max it out every year and watch it grow tax free (or crash as the case may be)

HSABank will let you trade it at Ameritrade (just about anything, not a short list of bad mutual funds with high fees)

ETA: I see all of this has already been covered...never mind

This post was edited on 1/21/14 at 8:31 am

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Posted by dcrews

Houston, TX

Member since Feb 2011

30223 posts

Posted on 1/21/14 at 12:00 pm to Duckman13

quote:
Why would I not want to max out an HSA every year.

I would imagine you wouldn't want to if there was something other than healthcare expenses that you absolutely knew you'd need the money for. Otherwise, have an ample amount of money in your savings account for non health related emergencies and stack your HSA as much as you can afford to.

I just doubled my contributions starting with my next paycheck