Numerous financial websites state that an HSA account, as it has triple tax advantages, should not be used other than for investing until retired and needed. i.e. Pay medical expenses out-of-pocket and keep HSA for investments.
Medical inflation has greatly outpaced general inflation until recently. Therefore, one would need to invest HSA in stocks to ensure HSA savings is outpacing medical inflation.
However, the closer one is to retirement age the less risk(stocks) one's portfolio should contain.
How does one's age and medical inflation affect whether one should pay current medical expenses out-of-pocket vs utilizing one's HSA and it's current tax advantages to pay medical expenses?
Medical inflation has greatly outpaced general inflation until recently. Therefore, one would need to invest HSA in stocks to ensure HSA savings is outpacing medical inflation.
However, the closer one is to retirement age the less risk(stocks) one's portfolio should contain.
How does one's age and medical inflation affect whether one should pay current medical expenses out-of-pocket vs utilizing one's HSA and it's current tax advantages to pay medical expenses?
Statistics: Posted by Paullmas — Sun Sep 08, 2024 6:42 am — Replies 9 — Views 514