Does it make sense to max out HSA (currently maxing 401k) if you are 26 and don’t frequently visit the doctor?

likefunny
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Yes. It’s a savings vehicle. Not a healthcare vehicle.

likesmart

You're gonna have Healthcare expenses when you get old, so money in a HSA means you don't have to use other money for Healthcare.

If you're lucky and don't have expensive Healthcare bills, you can withdraw money with a small tax hit when you're retired.

Plus you can do some reimbursement shenenagins too.

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HSA is better than a 401k & Roth. Pre tax savings, grows tax free, can withdraw it tax free if it’s used for medical expenses or if you’re retirement age.

likehelpful

Ic1 is right, it’s not tax free in retirement, it’s penalty free at 65 years old. But at that point out it is the exact same as a withdrawals from a traditional 401k so you get upside if used for medical expenses and no downside if not, use it.

https://joinfishbowl.com/post_d1p7no

This post was pretty helpful in expounding on the benefits—first response specifically.

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Thanks C1 I don’t check FB often this is super helpful

Money comes back out tax free when you have expenses / receipts for healthcare.

So save your healthcare receipts starting today. You can use them decades from now to make withdrawals tax free!

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I'm so disappointed I didn't know or think about this earlier. Thank you!

Yes. One day you will not be 26.

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