Question:

Do you have a HSA, and if so what have you saved in the bank account side?

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Hello, I just wanted to know for those of you that have a Health Savings account healthcare plan, are you saving a little every month like your supposed to? anyone been doing this for the last 5 years or so and have a good amount in thier hsa? do you get to retire on that money when the time comes?

It seems like many take the savings by switching then dont fund the pretax account, wanted to see if some of you can prove me wrong

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  1. I sell HSA's and almost all my clients invest money on a monthly basis at least in the first year. They consider it part of the monthly expense for the insurance.  At age 65 the money in the HSA can be spent on medical expenses tax free and can also be spent on any thing you want, you would just have to pay taxes the same way an IRA works. If you have an amount over the annual deductible you should invest the money in a  mutual fund. Most HSA accounts have this investment feature. Since an HSA can be spent tax free at anytime on medical expenses HSA's are actually better than IRA's. I would fully fund my HSA every year before I fund my IRA.

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