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Has recession started??
Additional Posts in FIRE Financial Independence Retire Early
Decided to payoff my mortgage.
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Vtsax vs fxaix?
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I know the HSAs are really good retirement accounts, but I prefer the PPO + FSA route with good plan. We have a lot of medical expenses, so really good insurance saves us a lot. I hit my personal deductible on 1/2 this year, and we’re quite close on the family wide deductible.
Our premium is also super low. Spouse works at a FAANG.
I’m not on what I would consider a high premium plan. My SO’s work offers really low premiums, such that our family premium for the low deductible plan is significantly lower than my individual premium would be on the high deductible plan offered through my employer. My SO’s work does offer a high deductible plan too, but the delta in premiums is not substantial.
That being said, I don’t know that it saves me more. I haven’t done the math on this. A lot of it is peace of mind. I didn’t hesitate to go to the ER when telemedicine recommended it earlier this year knowing that it wouldn’t be astronomical. I probably still would have gone in on the high deductible plan, but there would have been a level of hesitation and stress that I avoided.
I maxed out HSA. Keep $5,000 in cash/not invested for deductible and expenses. I invest the rest. After 10 years the HSA account is approaching $85K and growing strong with the current market. I highly recommend HSA over FSA any day.
I don't max it out, but contribute a fair chunk. I prioritize my Roth IRA and then my regular retail account since that's the one I'll be able to access without penalty when I do retire.
But I avoid FSA due to the use it or lose it, I've heard of people with a big chunk at the end of the year trying to spend it all at the pharmacy
Max out and withdraw for qualifying expense. Tax free payment will always beat the growth.
Yes, if you have the liquid cash to pay for the medical expense now and then take the reimbursement later from an HSA that that is invested then it makes much more sense.
People saying “save the receipts” it needs to be an ITEMIZED receipt. I’ve never received an itemized receipt from a doctor in my life.
Really? All my PT appointments are like 7.5 mins of this specific type of rehab. 15 mins of this. 7.5 mins of that. It’s pain staking.