Author Topic: New to HSA  (Read 2151 times)

b4u2

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New to HSA
« on: May 07, 2018, 10:35:42 AM »
I never had an HSA before so I never read up on it much. Who would point me in the right direction to learn more about it and the ways to take advantage of it?
What info, if any, is needed to know about my particular HSA or are they all basically the same?


b4u2

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Re: New to HSA
« Reply #2 on: May 08, 2018, 05:31:44 AM »
Thank you.

So contributing more to the HSA would be better than contributing to an FSA? Especially since you don't lose any money in the HSA account?

patchyfacialhair

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Re: New to HSA
« Reply #3 on: May 08, 2018, 08:34:49 AM »
HSA is generally better. It's not use-it-or-lose-it like an FSA.

Both have similar tax implications.

MDM

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Re: New to HSA
« Reply #4 on: May 08, 2018, 09:18:00 AM »
So contributing more to the HSA would be better than contributing to an FSA? Especially since you don't lose any money in the HSA account?
Might be worth putting your numbers into a couple of comparison tools, e.g., Health Savings Account (HSA) vs. Traditional Health Plan and the 'HDHP Analysis' tab of the case study spreadsheet.

You can't use both a general purpose FSA and an HSA at the same time.  See 2017 Publication 969 - p969.pdf for details.