Originally Posted by
sinca3
I've thought the HSA to be the best option since its inception, but have been scared sh##less of another surgery (had that 1.5yrs ago) ambulance ride to the hospital (3yrs ago kiddo) or something similar putting me under financially.
How much tax saving are you figuring using the HSA? Is it yearly or over the life and or in retirement when those monies are really useful?
I've used the HSA since it came out. While it's not as good as it used to be, imo it still provides a good out of pocket backstop that is lower than the other plans if you really had major expenses. I think Rx is also included in the deductible/coverage (not sure for next year), so that has been a big benefit for my family. Plus, if you don't use the money it rolls over, unlike an FSA.
The calculator showed about $2K in tax savings this year compared to $800 in the FSA. My HSA has grown to a nice little sum (will be withdrawing a bunch this year
) and I'm not figuring the long term tax advantage of that piece. What works for my family may not work for yours, but the HSA came out ahead by several hundred in my situation.