Interesting. Sounds like that is the way to go then. The extra $1500

Nov 12, 2024
1:59:25pm

RGGeemer Intervention Needed

contribution and lower premiums (I assume) will likely offset any increase in medical expenses due to the higher deductible.

This message has been modified

Originally posted on Nov 12, 2024 at 1:59:25pm

Message modified by RGGeemer on Nov 12, 2024 at 1:59:48pm

Report problem with this ad

RGGeemer

Previous username: rggee
Bio page: RGGeemer
Joined: Aug 18, 2010
Last login: Nov 22, 2024
Total posts: 72,055 (759 FO)

Report problem with this ad

Messages

Author

Time

HSA question: $1,500 HSA or $3,000 HSA/year?

RexburgCougar

Nov 12, 12:44pm

Are those contributions that will be made to your HSA account? DMBA can’t

allaboutthegainz

Nov 12, 12:46pm

Those are the deductibles.

RGGeemer

Nov 12, 12:51pm

HSA is one of the best retirement savings vehicles available

Skeptical Optimist

Nov 12, 12:46pm

I'd do the $3K.

jdub

Nov 12, 12:47pm

<< Deleted >>

justAnotherCoug

Nov 12, 12:47pm

You can't contribute to an HSA and FSA.

JuicyJam

Nov 12, 12:48pm

You can contribute to an HSA and a limited purpose FSA

Skeptical Optimist

Nov 12, 12:49pm

Thank you for that. That makes sense. I can contribute to dental and vision, but

RexburgCougar

Nov 12, 12:58pm

That is a limited purpose FSA. You can have that if you have an HSA.

Skeptical Optimist

Nov 12, 12:59pm

And you can use HSA for dental and vision costs.

Schultz is back

Nov 12, 1:04pm

But you don't want to. Save your HSA.

Skeptical Optimist

Nov 12, 1:08pm

Yeah, that's a good idea if you can afford to do it that way

Schultz is back

Nov 12, 1:37pm

I put in $750 - $1000 per year on my limited purpose FSA - low enough that I'm sure I'll use it all

Skeptical Optimist

Nov 12, 1:47pm

I'm a little below that at $50/mo., but for the same reasons.

RexburgCougar

Nov 12, 1:49pm

If you have a high deductible plan with an HSA, do not use an FSA.

Schultz is back

Nov 12, 12:50pm

I like taking on higher risk but so i would choose the 6k and max

JohnnyC

Nov 12, 12:51pm

Correct. Though I would have a cashflow problem if I even tried to max it out

RexburgCougar

Nov 12, 1:01pm

Nice! 4% match is great.

JohnnyC

Nov 12, 1:06pm

It depends on the premiums and how many medical expenses you have each year.

RGGeemer

Nov 12, 12:54pm

This is the risk, but I am banking on the fact that a $6,000 premium isn't too

RexburgCougar

Nov 12, 1:08pm

The savings plan is the same. You can contribute up to $8,550 to your HSA no

RGGeemer

Nov 12, 1:39pm

If you have recurring prescriptions be sure to check prices.

BlueCoug

Nov 12, 1:01pm

If you expect low medical expenses, then I'd probably go for the one with the

TheNerd

Nov 12, 1:08pm

Thank you, All! I just wanted confirmation if I was making the right choice

RexburgCougar

Nov 12, 1:09pm

BYU open enrollment ended on 11/8.

bluebooks

Nov 12, 1:22pm

Yeah! I should have been clear that I already made the decision, but was still

RexburgCougar

Nov 12, 1:26pm

I would choose the $3k HSA and not spend any of it. Put it away and let it grow

diluigifan

Nov 12, 1:30pm

I'm not convinced the $3k is a company contribution....I'm thinking that is just

RGGeemer

Nov 12, 1:40pm

The deductible is $6K and the contribution is $3K for the HSA60 plan.

RexburgCougar

Nov 12, 1:44pm

Interesting. Sounds like that is the way to go then. The extra $1500

Posting on CougarBoard