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re: HSA Tax Deduction

Posted on 1/13/14 at 9:51 am to
Posted by Chaplain
8,000,000 posts
Member since Nov 2009
1147 posts
Posted on 1/13/14 at 9:51 am to
I've maxed mine out for almost 3 years and have $6k in mine just sitting there for a rainy day. I have an employer match of $125 per month to help meet my deductible. pretty sweet.
Posted by dcrews
Houston, TX
Member since Feb 2011
30223 posts
Posted on 1/13/14 at 11:24 am to
If I'm extremely healthy, and very rarely, if ever actually have medical expenses, why would I want excess money in my HSA?

If I need money for an emergency, I will be penalized (on top of taxed) for any money I take out for non medical expenses.

Can someone explain to me why you'd keep "rainy day" money in an HSA if you never really incur any medical expenses?

ETA: I do put money into my HSA, but I also keep a separate savings account for any non medical emergencies that may arise.
This post was edited on 1/13/14 at 11:26 am
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