Author Topic: Who Has the MOST Money in an HSA?  (Read 2264 times)

PhrugalPhan

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Re: Who Has the MOST Money in an HSA?
« Reply #50 on: October 17, 2020, 03:07:06 PM »
We have right at $40K in HSA balances between the two of us. We max out each year on a family HDHP plan and also make a $1K catch-up contribution to my DHs since he is over 55. We keep a few thousand in a cash account for expenses and the rest is invested. Although I know the general thought is to just let it grow and not use it for medical expenses until a later date, we do routinely use it to reimburse ourselves for medical expenses.

Weve loved having a HDHP and HSA. In fact, we also maxed out a LFSA this year to use for dental/vision as we both had some high cost dental work that was needed.
I got the ability to have an LFSA this coming year and I am so happy about it.  I am going to max out the LFSA in 2021 and get major dental work done all in one year.

pdxvandal

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Re: Who Has the MOST Money in an HSA?
« Reply #51 on: October 19, 2020, 01:26:42 PM »
Have about $45k in the HSA, which I started about 5 years ago. It's gained 18% in investment earnings along this year, mostly due to luck as to when the money went in. I've withdrawn about $4,000 total from it for various medical expenses, or to help with cash flow ($2k of the HSA has to be in cash), so I don't have to sell other investments. It's a great tool!

talltexan

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Re: Who Has the MOST Money in an HSA?
« Reply #52 on: October 20, 2020, 06:37:27 AM »
I got caught with only 40% of my balance invested, while the market has zoomed up this year. Should have more money than I do in that dang HSA!

Well Respected Man

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Re: Who Has the MOST Money in an HSA?
« Reply #53 on: October 20, 2020, 07:01:59 AM »
We're at $44k last time I checked. I really need to get on the receipt hunt, as we have a lot of expenses. I learned two important things from this thread: that we can pay Medicare premiums tax-free (I thought all premiums were excluded), and that we can contribute without earned income. I'll be adding that into the post-retirement tax avoidance strategy for sure.

achvfi

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Re: Who Has the MOST Money in an HSA?
« Reply #54 on: October 20, 2020, 11:02:43 AM »
I got caught with only 40% of my balance invested, while the market has zoomed up this year. Should have more money than I do in that dang HSA!

On other hand, You have lots of dry powder ready when next opportunity arises. With election and all other craziness I am sure you will find some.