The value of a Roth
06-11-2019, 03:56 AM
#31
Gets Weekends Off
Joined APC: Feb 2008
Posts: 19,277
Originally Posted by RonRicco
If it wasn’t covered at all on the HSA, then it probably would not have been covered by the DPMP either.
06-11-2019, 04:17 AM
#33
seeing the large hubs...
Joined APC: Oct 2006
Position: 73N A
Posts: 3,707
Originally Posted by Gspeed
Using one’s HSA money for a medical expense is choice, not a requirement. I don’t ever plan to touch mine so long as my emergency savings is enough to cover my medical expenses.
But in the end, it's all the same pile of money. The money you put into the HSA hasn't been taxed... but if you don't spend HSA money on medical costs, then you're just using taxed money to pay for it. And you don't have the taxed money for other expenses or investments. I guess I see it as it all comes out in the wash - we're starting to save enough money for retirement that our income in retirement is going put us in higher tax brackets anyway.
06-11-2019, 06:40 AM
#34
Banned
Joined APC: Dec 2018
Posts: 648
Originally Posted by iaflyer
I guess.... But in the end, it's all the same pile of money. The money you put into the HSA hasn't been taxed... but if you don't spend HSA money on medical costs, then you're just using taxed money to pay for it. And you don't have the taxed money for other expenses or investments.
I guess I see it as it all comes out in the wash - we're starting to save enough money for retirement that our income in retirement is going put us in higher tax brackets anyway.
But in the end, it's all the same pile of money. The money you put into the HSA hasn't been taxed... but if you don't spend HSA money on medical costs, then you're just using taxed money to pay for it. And you don't have the taxed money for other expenses or investments. I guess I see it as it all comes out in the wash - we're starting to save enough money for retirement that our income in retirement is going put us in higher tax brackets anyway.
06-11-2019, 10:02 AM
#39
Gets Weekends Off
Joined APC: Jun 2015
Posts: 4,116
As long as the medical coverage you have in the meantime doesnt degrade to coverage levels that will require depleting the account.
Its one strategy i guess. I would suggest to all looking ahead to not neglect accumulating capital reserves that are available outside of government accounts.
Using the historical record its reasonable for a worse case plan to contemplate a 40% reduction of income and perhaps decade of recovery to previous levels.
We now are enjoying great times and have the resources and options to prepare.
Its one strategy i guess. I would suggest to all looking ahead to not neglect accumulating capital reserves that are available outside of government accounts.
Using the historical record its reasonable for a worse case plan to contemplate a 40% reduction of income and perhaps decade of recovery to previous levels.
We now are enjoying great times and have the resources and options to prepare.
Last edited by BobZ; 06-11-2019 at 10:16 AM.
06-11-2019, 10:21 AM
#40
Gets Weekends Off
Joined APC: Apr 2011
Position: retired 767(dl)
Posts: 5,730
Originally Posted by sailingfun
The coverage is good on the HSA speaking as someone who had a 180,000 dollar surgery that some could consider elective. If it was not covered by the HSA plan it’s doubtful any insurance plan would cover it. My 180,000 surgery cost me 2500 total.
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