Is maxing out your HSA worth it? I’d rather keep the cash than have it be stuck for use only on medical expenses. I’m entering my late 20s so not sure it’s worth contributing. Are the tax benefits worth it?

like
Posting as :
works at
You are currently posting as works at

Yes, you can invest in stock the money you put in HSA and after 65 it is tax free for any purpose. It is essentially the best retirement account one can have

like

After 65, distributions for medical expenses will (continue to) be tax free. Distributions for non medical expenses will be taxed and you won't be hit with an early withdrawal fee.

like

BEST account you can have. My partner and I are also saving our medical expenses now, and we are going to let the HSA money grow until we're like 60 and then submit all of those expenses for reimbursement then. Ultimately we get paid back and the money has time for compounding gains. Never ever actually pay for medical expenses out of there unless it's your only option.

like

P2, I'm gonna suggest you do some independent research at this point.

like

So you pay for all your medical expenses out of pocket at full price?

like

EY3, if you can't financially afford to pay out of pocket, then yes, use your HSA funds

like

There are a lot of benefits to having an HSA, and I encourage you to looking into the many strategies that could be employed with it. But at the end of the day, if you’d rather have more money to have some fun with now, I would suggest that you have enough to cover your out-of-pocket max in your account.

How much of the HSA balance do you invest? Or do you leave just the minimum in there?

You can invent anything over $1K

like

Related Posts

Can anyone share what are the usual components of a flexi benefits basket and to what max amount can you utilise them.
Eg. Communication fuel etc

like

Anybody got any fire penny stock plays? IDEX is mine, but I’m looking for more!

like

Is it better to buy stocks and options around 10 or after 1 pm central time to avoid the market rush/high at 9 and 12?

like

Marcus HYSA rate cut down to 2.0% :(

like

What’s the smartest allocation (for a late twenties person) of 100K right now, between ETFs, stocks, crypto and bonds? I am mostly in cash right now and feel I’m missing out on investment ops, but also wary of putting money in the wrong place. Any advice would be greatly appreciated!

like

I joined KGS 4 months back. I am taking home loan now. Do I need to inform about my home loan to any one in our company? Any one please help me with this query? Infosys KPMG Tata Consultancy Accenture PwC Wipro EY Cognizant

like

Currently 25 y/o making 70k/year in Boston. I grew up pretty poor and I have minimal financial education. A lot of my salary now goes towards helping my parents get out of debt. My parents are no longer able to live on their own, so considering selling my grandmas house where they live (maybe 550k), paying off their mortgage (100k) and buying a duplex (between them they make about 55k/year). Is buying a two family home a good investment ? How much can I afford to spend on a new house?

likehelpful

Deloitte - I have a question about US benefits. Do you have to work a certain amount of time before being eligible for parental leave benefits? TIA

likehelpful

Has anyone successfully “ported” their mortgage? Just learned about this and doing some research since rates are so high now. Current rate is 3% and new home will be more expensive, for context.

likesmart

Between two offers, "Associate Principal" for m&a consulting in the Healthcare industry vs a Director at a F300 company doing M&A and Partnerships. Consulting pays about 50k more. What does the future look like in consulting? I am a bit nervous jumping from from "industry side" to the "consulting side".

How do folks effectively save for a house down payment and max retirement?

like

This might be a question other people would have asked but can these 100+% APY be trusted? What's stopping people from jumping in on these high staking rewards? I'm aware about the large amounts of gas fees but if we can figure out an amount that helps break even in a couple of months, are there any other factors to be wary of? Would appreciate some advice.

Post Photo
like
like

Hi All, I am working as Consultant in Deloitte USI since 3+ years and now wish to make a change.

I got an offer from BNY Mellon for 28 LPA for Senior Associate 1 position as a Backend Developer. Is BNY a good company considering I am already working as a Full Stack Dev in Deloitte ? Please help and also plz add some points related to benefits, work life balance, quality of work, etc.

like

Might move from agency to a premium car brand. New position is contract, not W2. Currently making 64k , bonus, 401k, health insurance, 15 days PTO. What $$ ask would be reasonable to recoup benefits?

Wrapping my head around the equity piece of an offer. Is the equity you are granted in dollars converted to shares right away? So if the stock goes up or down, the totally dollar amount in equity granted when you sign might not be what you actually get over the first four years?

like

Anyone buying a place during Covid times in Denver? How's it going?

like

How much can we save in Canada Onsite ? Tech lead role. Avg sal in glass door is $80k .

like

More Posts

Pre-MBA at MBB — Have worked on a few DDs but have not touched the model workstream yet. Any advice on how I can best discuss my “deal” experience in PE interviews despite that? Thanks in advance!

likesmart

I have an L2 interview scheduled today for Java Aws Developer with LTI. I have total more than 7 YoE. Can anyone tell me what can be the difficulty level and will it be a pure technical round?

like

After I eat sehri, I just want to lay down while my stomach looks like a mountain. Then I become so lazy to get up for fajr. Shaitan is locked up, it feels like I’m the shaitan, don’t wanna get up ...

funnylike

MLS or CLS what the catch to travel? What are your pros and cons ?! Who do you travel thru?

like

@Amadeus @Netcracker @TCS @CTS What would be Hand Salary for 35LPA Fixed(Gratuity +Com Contribution to PF Included)??

Does PwC accepts 10th Marksheet as a valid document for dob ? Anyone who has submitted the same ?

like

How is Atos as per wlb, projects, management. What is the role of GCM4 level and C/S band.
Please help me here, thnx

Anyone have experience between choosing between an Industry position or making the final push (manager/SM level) for partner? How did you finally decide to go one way or the other and do you have any regrets?

I think I want to try someone new but am having a bit of paralysis in making the move knowing the income/ partner lifestyle that I could be passing up…

Open to any thoughts and advice.

like

Question, which do you prefer Sweet Potato Pie or Chocolate Pecan Pie?

like

Who all is looking to buy a house and in what area?

Any recommendations for Harrisburg? Starting a new engagement there

like

My friend bought a nice condominium and his agent assured him that it had a garage. AFTER he signed the papers and moved in, the neighbors told him that the unit does not come with a garage. Can he sue the agent? He feels ripped off.

like
like

Hi everyone! First time posting here. I am in a good sales role at my current company but it’s my first solid AE role in the tech industry. I am interested in exploring other opportunities as I know there are a lot out there, but is anyone else worried about the current economic state? I’m worried that if I find a new position for a new company and the economy going to sh** that I am worried about job security. Anyone else feel this way?

like
like

What is the best site to buy Ripple? I tried using Bitstamp but those guys charge international wire transfer fees.

Need 11 likes ♥ to dm please help by liking this post

likehelpful

Greetings humans need 12 likes to unlock dm

like

Hello all,

I have given my round 2 interview at Capgemini Invent. During interview i forgot to keep the govt id with me, can this be a reason for rejecting the candidate. I have shown the softcopy of id available in my mobile. But don't know if that was accepted.

like

Additional Posts in Employee Benefits

Any Deloitte people trade on robin hood?

like

How much is your firm giving for wfh accomodations?

like

At EY is I was reimbursed for a stationary bike 2 years ago. Would EY reimburse me for a road bike this coming year? There's a stipulation that says every 5 years but I'm not sure if that means for another stationary bike or if I can get a road bike and be reimbursed.

like

How common is it for a firm to contribute to an HSA on an employee’s behalf, and what is the largest contribution you’ve seen that an employer gives?

like

Does EY’s vision plan not cover eye exams?

like

For advisory folks at KPMG, what's your meal limit for breakfast, lunch and dinner?

likehelpful

Can you submit a climbing gym membership for a fitness expense with EY? It says extreme sports are restricted and lists rock climbing but is the climbing gym itself ok?

@Cloudflare - What is the maternity + parental/bonding leave like? How long, fully paid, max time one can take, etc. TIA!

like

How come I have to pay $116 out of pocket for my dental exam and cleaning? Is this covered by your firm’s dental coverage plan?

likehelpful

How does pwc’s wealth builder plan work ?

like

I do sales for a major engineering firm. Focused on new business and exploring new markets. Last year I was in the top 50% for order intake, and first in number of projects won along with number of new customers. I think this is extraordinary given the effort it takes to win new business.

For next year my goal increased by 2.5X, and less of what I bring in counts towards that target. I really enjoy my job but I will essentially be getting a large pay cut. Lost in what to do besides quit??

like

My firm doesn’t match my 401k — still worth opting in?

like

When you finally got your CPA license how much has your salary jumped ?

like

Who has the best parental leave policies? Need advice

like

EY advisory laptops - do you get to choose a model or is one just randomly assigned to you?

like

EY folks - how do I increase my firm group life insurance coverage (not the group universal / variable policy)? My wife’s coverage is at like 3x my salary but mine is only at 1x my starting salary from 5 years ago…

like

Bain & Company PPO health insurance only! Post your firm's biweekly premium (employee deduction) and whether it's employee, employee+spouse or employee+family.

Deloitte Accenture EY PwC Boston Consulting Group McKinsey & Company Bain & Company KPMG

like

529 Plan VERSUS Prepaid

We live in Florida and currently have a Freshman in High School and a 16 month old. We hear from our friends and family with college bound children "I wish we would have done Florida PrePaid." After obviously ignoring this for years, we are finally trying to do it before "it's too late" for both children.

Does anyone have recommendations on which plan to go with for each child? I once did the pros and cons on a whiteboard and it seemed like 529 was better.

like

Can someone recommend affordable health insurance? I left the firm earlier and am expecting a gap of medical coverage until I find a job. Currently not actively seeking either...

Changes in the healthplans are going to drive me to spend hundreds in out of pocket early on and I'll meet my deductible whether high or low. Any advice on how to choose a policy?

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal