{ "media_type": "text", "post_content": "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?", "post_id": "61169688b52c800021293a8c", "reply_count": 27, "vote_count": 1, "bowl_id": "5ba190cc97fae100172e39c1", "bowl_name": "Firm Benefits", "feed_type": "bowl" }
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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?

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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

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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.

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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.

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

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

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

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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

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