HSA plan

[pinnigaaru]

Never took/had HSA plan..ee year teesukundamu ani decide ayyamu...I know few benefits from this

1) contribute upto $7k(2026) per family pre-tax

2) can be used to pay medical bills and invest in stocks..

 

Any other benefits? or is it worth taking it?

 

DB peddalu @Spartan@Anta Assamey@The_Mentalist@LadiesTailor@Konebhar6@jpismahatma@Sam480@krishnaaa@Hitman@DuvvaAbbulu emina other benefits or salahalu untey cheppandi....sorry for tagging all of you

[LadiesTailor]

7 minutes ago, pinnigaaru said:

Never took/had HSA plan..ee year teesukundamu ani decide ayyamu...I know few benefits from this

1) contribute upto $7k(2026) per family pre-tax

2) can be used to pay medical bills and invest in stocks..

 

Any other benefits? or is it worth taking it?

 

DB peddalu @Spartan@Anta Assamey@The_Mentalist@LadiesTailor@Konebhar6@jpismahatma@Sam480@krishnaaa@Hitman@DuvvaAbbulu emina other benefits or salahalu untey cheppandi....sorry for tagging all of you

No stock investing option but that money never expires and pre tax.. keep investing in HSA and it will be handy when you have medical emergency 

[Moon_Walker]

9 minutes ago, pinnigaaru said:

Never took/had HSA plan..ee year teesukundamu ani decide ayyamu...I know few benefits from this

1) contribute upto $7k(2026) per family pre-tax

2) can be used to pay medical bills and invest in stocks..

 

Any other benefits? or is it worth taking it?

 

DB peddalu @Spartan@Anta Assamey@The_Mentalist@LadiesTailor@Konebhar6@jpismahatma@Sam480@krishnaaa@Hitman@DuvvaAbbulu emina other benefits or salahalu untey cheppandi....sorry for tagging all of you

Good thing is it grows tax free and u keep investing in stock funds and  after a certain age u can use it for other expenses other than medicals. Read it in a article.

[Konebhar6]

• Usually, companies offer a $1000 or more free deposit from their side to take this plan.
• If there are not many health issues in the family and you don't visit a doctor much, this is a decent plan. Check your maximum deductions per person and per family.
• Tax savings - Reduce taxable income by the amount you put in it
• Tax-free growth & withdrawals for medical expenses - All the profits are tax-free. They can be used for medical expenses.
• HSA funds do not expire at the end of the year, and the account stays with you even when you change jobs.
• Covers some over-the-counter medications and medical equipment.

[Konebhar6]

3 minutes ago, LadiesTailor said:

No stock investing option but that money never expires and pre tax.. keep investing in HSA and it will be handy when you have medical emergency 

You can invest in the ETF/funds allowed by the HSA provider.

[HugoStrange]

generally it has tripple tax benefit,  first you dont pay taxes when you contribute, second it grows tax free when you invest in stocks/ETF's. Third you dont pay taxes when you use it for medical purposes. I heard you can use in some places in India too.  Also mee company kontha contribute chesthundi neee account ki

after 65, you can use it for other purposes ani annaru

[psycontr]

10 minutes ago, pinnigaaru said:

Never took/had HSA plan..ee year teesukundamu ani decide ayyamu...I know few benefits from this

1) contribute upto $7k(2026) per family pre-tax

2) can be used to pay medical bills and invest in stocks..

 

Any other benefits? or is it worth taking it?

 

DB peddalu @Spartan@Anta Assamey@The_Mentalist@LadiesTailor@Konebhar6@jpismahatma@Sam480@krishnaaa@Hitman@DuvvaAbbulu emina other benefits or salahalu untey cheppandi....sorry for tagging all of you

Go for it ... 100% worth it ... you can only invest in few mutual funds approved by HSA provider

[The_Mentalist]

10 minutes ago, pinnigaaru said:

Never took/had HSA plan..ee year teesukundamu ani decide ayyamu...I know few benefits from this

1) contribute upto $7k(2026) per family pre-tax

2) can be used to pay medical bills and invest in stocks..

 

Any other benefits? or is it worth taking it?

 

DB peddalu @Spartan@Anta Assamey@The_Mentalist@LadiesTailor@Konebhar6@jpismahatma@Sam480@krishnaaa@Hitman@DuvvaAbbulu emina other benefits or salahalu untey cheppandi....sorry for tagging all of you

Nak last 7 years nundi undhi uncle

masth helpful

never expires take it

nen kids avaka mundhe stored lot of money, it helped me for delivery charges, kids ki kuda baga help ayindhi urke sick aithar kids weather and all

best option, I also have FSA daycare tutition fee ki help aithadhi kids ki

[LadiesTailor]

1 minute ago, Konebhar6 said:

You can invest in the ETF/funds allowed by the HSA provider.

Yeh but not directly into stocks 

[Pandubabu]

15 minutes ago, LadiesTailor said:

No stock investing option but that money never expires and pre tax.. keep investing in HSA and it will be handy when you have medical emergency 

your employer restricting stock investing , usually won't be the  case 

[nenu_meeku_telusa]

29 minutes ago, pinnigaaru said:

Never took/had HSA plan..ee year teesukundamu ani decide ayyamu...I know few benefits from this

1) contribute upto $7k(2026) per family pre-tax

2) can be used to pay medical bills and invest in stocks..

 

Any other benefits? or is it worth taking it?

 

DB peddalu @Spartan@Anta Assamey@The_Mentalist@LadiesTailor@Konebhar6@jpismahatma@Sam480@krishnaaa@Hitman@DuvvaAbbulu emina other benefits or salahalu untey cheppandi....sorry for tagging all of you

both are correct.. some people say, save the receipts of all medical expenses and don't claim until you are close to 55. This will help the money grow in stocks and you can claim them at that time. not sure how true it is though

[Redarya]

23 minutes ago, LadiesTailor said:

No stock investing option but that money never expires and pre tax.. keep investing in HSA and it will be handy when you have medical emergency 

Wrong. You can invest in Stocks/options if allowed by employer. 

[k2s]

47 minutes ago, pinnigaaru said:

Never took/had HSA plan..ee year teesukundamu ani decide ayyamu...I know few benefits from this

1) contribute upto $7k(2026) per family pre-tax

2) can be used to pay medical bills and invest in stocks..

 

Any other benefits? or is it worth taking it?

 

DB peddalu @Spartan@Anta Assamey@The_Mentalist@LadiesTailor@Konebhar6@jpismahatma@Sam480@krishnaaa@Hitman@DuvvaAbbulu emina other benefits or salahalu untey cheppandi....sorry for tagging all of you

its(HSA) a triple tax adv account. you only put in the money and never take it out until retirement. 

triple tax adv - 1) pre-tax now, 2) tax -free grow (as market grow) 3) withdrawal is tax free 
only fools will withdraw the money from HSA. 

[Spartan]

nenu teskundam anukunna...but if kids still below teenage I prefer peace of mind medical..

anduke stuck to PPO. 

as others mentioned advantages unnai...

but na case lo i was just overpaying 3000 or something... compared to HSA and PPO. 

off-course missing out on Tax free investment...but i am fine with it... 

[k2s]

5 minutes ago, Spartan said:

nenu teskundam anukunna...but if kids still below teenage I prefer peace of mind medical..

anduke stuck to PPO. 

as others mentioned advantages unnai...

but na case lo i was just overpaying 3000 or something... compared to HSA and PPO. 

off-course missing out on Tax free investment...but i am fine with it... 

nuvvu anni ilanti rookie mistakes ee chesthunnav chittinaidu