What helps you determine if you should or should not have an HSA setup?

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If you have a high deductible plan, you are eligible for an HSA. If that’s the case, there is no reason not to have one set up and maximize the contributions. Everyone at some point will need to pay for medical care. You can use those funds to pay for those costs with money that will never be taxed. It’s a no brainer.

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And the firm gives you free HSA contributions if you have the high deductible plan.

The argument is it is the best retirement savings vehicle available. If you are eligible you should be maxing it out each year and not touching it. For example you won't actually use it for its intended purpose of paying for medical expenses.

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I decided against it because my current employer does not contribute towards the HSA.

My previous employer started you off with $500-$1000 (can't remember exactly), so I took the "free money" and opened an HSA.

It becomes a Roth.

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