Money Meets Medicine Podcast
MMM #44: All About HSAs
Have you thought about getting a Health Savings Account? Do you have no idea where to start or what to do? Confused with different options?
What You’ll Learn:
In this weeks episodes of Money Meets Medicine, “All About HSAs,” you’re going to learn…
- All of the ins and out of HSAs
- The difference between HSAs and FSAs.
- How the CARES Act impacts your HSA.
- All the stuff you need to know about how the IRS impacts this stuff.
- And more!
Quotes To Remember
“You get that basically nice deduction in the beginning when you contribute the money, just like your IRA, it grows tax-free, on both settings it grows tax-free. And then like the Roth, it comes out tax-free.”
“FSA, very simple. Use it, lose it. You can carry $500, or technically the employer has the ability to say up to two-and-a-half months of a leeway or grace period, if you will.”
“I think this is probably for a lot of people, they’re like, “All right. Well, I decided that I got an HSA. I have an HSA. How should I use it?” So we talked about saving receipts, and we talked about using it as healthcare expenses come in.”
Resources from the Episode:
Listener Question of the Week:
Today’s listener question comes from Mo Efaz who asks,
“As a high income W-2 what tax advantages can you take?”
Each episode, we are going to start including listener questions as they are provided to us. So, if you have a specific question you’d like answered on the podcast reach out to us! Email [email protected] or [email protected]
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