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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:

Health Savings Account (HSA): Everything You Need to Know

Tax Forms and Instructions

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]

Subscribe in Your Podcast Player:

If you love the show – and want to provide a 5-star review – please go to your podcast player of choice and help other listeners find the Money Meets Medicine Podcast, too!  If you think that our podcast is terrible, send me an email and I will throw your email into the trash consider your constructive criticism to improve the show.

Seriously, though, go leave a review.  It helps others find the Money Meets Medicine podcast, too.

TPP

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