“[Health Savings Account] is a tax-exempt savings account.”
Evan Prokup is the man behind HSAedge, a leading website on Health Savings Account (HSA) information. HSA are savings accounts for medical expenses which are triple tax-advantaged and allows holders to lower their cost of medical care over time. HSA contributions can be invested in a wide variety of assets and can even be used in retirement.
During the episode, Evan explains the fundamentals of Health Saving Accounts (HSA) including its aspects and benefits. He also explains the HSA triple tax advantage, eligibility, investment opportunities, and income requirements. This episode answers all the basic questions you have on HSA which helps you decide in opening up an account.
Listen to ILAB 90 on iTunes here or subscribe on your favorite podcast app.
ILAB 90 Show Notes
Where we are:
Sam – Nevada
Johnny – Nepal
Website – HSA Edge
Email – email@example.com
ILAB 31 – The Landlord: How I Acquired 485 Properties in 12 months
ArtofFX – start with just a $25,000 account for ILAB members (reduced from $50,000)
Fundrise – start with only $1,000 into their REIT funds (non-accredited investors OK)
04:35 – How he took interest in HSA?
05:47 – The background of HSA
07:02 – What is HSA?
09:43 – Aspects of Triple Tax Advantage
11:53 – Record Keeping
13:50 – Allowable yearly contribution
17:13 – Who is HSA eligible?
25:39 – Investment opportunities through HSA
30:28 – Qualified Medical Expense
34:30 – Socialization of medical care
37:39 – Investment options for HSA
42:24 – Income requirement for contributing to HSA
45:14 – Downsides of HSA
48:05 – Contribution dates
49:12 – Transfer to a beneficiary
HSAedge.com is a leading website with in depth Health Savings Account (HSA) information. Since 2012, its goal has been to provide clear information to help you get the most out of your HSA. It includes articles and videos that explain key concepts relating to HSA’s,as well as answers to common questions and issues.
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