HSA plan

[Spartan]

Just now, k2s said:

nuvvu anni ilanti rookie mistakes ee chesthunnav chittinaidu 

agreed..  

[krishnaaa]

57 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

Take it. Dont over think.

Others have already said the benefits.

One thing I do is I pay all medical bills with my credit card so that I get cashback. And then take a photo and save them by emailing those receipts.

I will reimburse myself after 5-10 years later when market is at peak.

Lot of people save for 20 years. I am little impatient

[Dallasbaluu]

1 hour 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

 

1 hour ago, Konebhar6 said:

• 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 anna employers ni change chesinapdu multiple cards untundhi no

[phatposts]

from a tax benefit point - its a no brainer. 

plan benefits, and personal usage batti make a decision. 

if you are young and healthier - DO IT anthe!

[Sizzler]

1 hour 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

New HSA limits are 8,750. 

[Moon_Walker]

4 minutes ago, Dallasbaluu said:

 

@Konebhar6 anna employers ni change chesinapdu multiple cards untundhi no

You can rollover funds from one HSA to another. 

[Dallasbaluu]

2 minutes ago, Moon_Walker said:

You can rollover funds from one HSA to another. 

thanks anna idhi kuda automatic unte baguntundhi

[Sizzler]

1 hour ago, psycontr said:

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

Depends on the plan provider. You can buy individual stocks as well. 

[Sizzler]

401k , HSA, Roth IRA, 529 - Please consider these seriously as early as possible. We send money to India for most part of 20s and don’t realize the benefit of investing in these instead. 

[Dallasbaluu]

4 minutes ago, Sizzler said:

401k , HSA, Roth IRA, 529 - Please consider these seriously as early as possible. We send money to India for most part of 20s and don’t realize the benefit of investing in these instead. 

 pedayana alane venkala baga vesadu enjoy cheyaledu. desis epudu nerchukunatro cc @JANASENA1 @krishnaaa @Konebhar6

[Paamu]

HSA ante high deductible untundi kada ? 

[Dallasbaluu]

2 minutes ago, Paamu said:

HSA ante high deductible untundi kada ? 

yea anna high deductibe untundhi . low deductible plans are not covered for HSA

[CycleReddy]

Im doing for past 6 years and it helps when you use it for medical emergency. Investing helped me to grow it quicker in HSA.

Invest in aggressive growth funds, and only use it for medical until 65. After that the penalty disappears and you can use it to buy anything.. new car, etc..

best part, it rollsover YOY.. not expires every CY like FSA.

[maverick19]

is 529 good to have ? i here both side of the argument that 529 may have some issues you. cannot use it. for something else and h1b biscuit aite funds gone iddi adi anesi. what do you guys think?

[Sucker]

2 hours ago, Paamu said:

HSA ante high deductible untundi kada ? 

Regular doctor visits ki medicine use chese vaallaki pedha ga use vundhu. Vunna jabbulu Patti