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Chief
Yes, and yes.
If possible, max your HSA and don’t spend it at all. It’s the only triple-tax advantaged account in existence
Chief
Also if HSA contributions are done through employer there is no FICA tax so 1.45-7.65% savings depending on where your salary relative to SS limit.
That’s what I’m doing. Max it out. Don’t touch. Pay any medical expenses out of pocket, post tax income
Max it out and never use the money. It’s basically a stealth IRA
But better. assuming you can afford to let it grow.
You can invest any surplus above $1000. So you can keep this amount as standby for expenses and invest anything additional in funds that your hsa provides.
My company uses Fidelity HSA and there is no requirement. I keep ~$250 in cash, the rest invested.
Bowl Leader
Agree with others to max and let it grow if possible. That said, it is better to max and use half than to only contribute half in the first place.
Conversation Starter
My HSA is through healthequity. For those using the same platform, how to manage the investment? I am not very knowledgeable so I chose to use the service Advisory GPS but noticed the return it has been negative recently even though the portfolio is balanced at 99%… any advise or tip would be really appreciated, thanks!