The best retirement account you don't know about

[disneysteve]

it's still not an option where I work so I still don't contribute.

I will definitely contribute to the FSA even though it can't roll over. We have predictable medical expenses so I can base it on that. Unlike the FSA, though, I won't just put in the maximum since it's use it or lose it. I'll put in some amount well below my anticipated expenses just so I don't risk losing any.

[Smallsteps]

Despite changing jobs a couple of times in the past few years, I have yet to experience a policy with a high deductible that qualified me for a HSA.
Like so many other options being discussed to repair or replace the ACA wide access to HSAs has been suggested.
I do not see how it would work for the masses that are not even saving tax free in retirement options out there like ROTH/ IRA /401k.

Selling it as another "retirement" option for those whom maxed out other options and do not have any health issues..... seems to make me wonder what is in it for those who present these articles?

[disneysteve]

Like so many other options being discussed to repair or replace the ACA wide access to HSAs has been suggested.
I do not see how it would work for the masses that are not even saving tax free in retirement options out there like ROTH/ IRA /401k.

You are absolutely right. When I first heard them say that HSAs would help replace the ACA, I had the same thought.

HSA plans put even more of the cost burden on the patient. It doesn't help those who are struggling to pay medical bills. It makes the problem a lot worse.

[~bs]

You are absolutely right. When I first heard them say that HSAs would help replace the ACA, I had the same thought.

HSA plans put even more of the cost burden on the patient. It doesn't help those who are struggling to pay medical bills. It makes the problem a lot worse.

That is called a money grab. Once in a while they'll talk about doing something similar to the 401k, the money to "supplement" social security in an official government program.

[disneysteve]

That is called a money grab. Once in a while they'll talk about doing something similar to the 401k, the money to "supplement" social security in an official government program.

How can they possibly expect anyone to believe that a plan that makes YOU pay for your care yourself would be a good replacement for the ACA? They seem to forget that the first A stands for affordable.

[Smallsteps]

I think the use of HSAs is right along with the idea of the savings vehicles out there like 401k/IRAs .......... they only work when you participate in them.

With the large amount of people NOT using them it becomes a question of what does work or how can more people use these plans effective for more people especially those not in the habit of saving or planning.

Since I find the A ( as affordable) in the name of the current law laughable because what is affordable to one person may be completely different for the next person. It is a word without a clear definition in my opinion.