Reply to thread

Message: [QUOTE="Huskee11, post: 2921257, member: 7171"] My wife and I both have HSAs. I can`t contribute any more since I am on Medicare but I did while I was working and covered under a high deductible health plan. My wife is still under such a plan for 2018 and will be for most of 2019, so she will be able to contribute $4450 by 4/15/2019 for 2018. We have them through Health Equity. They offer an ok investment lineup - stock, bond mutual funds. We have debit cards that we use, and we can also authorize Health Equity to pay service providers directly from our accounts through our accounts online. Very easy. The tax advantages don`t get any better than this. You can deduct the contribution from your income for tax purposes; the earnings, gains, etc. in the account aren`t currently taxed; if you use the funds for qualified expenses, the distribution/payment from the account is not taxed to you; and the minimum distribution rules applicable to IRAs, qualified plans, and 403(b)s don`t apply. Even if you don`t use it much at the current time for health expenses, it can still operate as a supercharged retirement account. You need to be in a high deductible health plan to be eligible to contribute. But once you are no longer in such a plan, you still have your account. If you have access to a 401(k) and an HSA and can`t contribute the max to both, I would favor the HSA because distributions for qualified expenses are tax free and the minimum required distribution rules don`t apply. Of course, if the 401(k) contributions are matched, you would want to contribute enough to the 401(k) to get the match. [/QUOTE]

Verification: First name of men's bb coach