Home Videos What is a Health Savings Account? HSA Explained for Dummies
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21 Comments

  1. Financial Lift

    August 21, 2020 at 1:04 pm

    Keeping your money in tax advantage accounts is a key to growing wealth

  2. Great tips, saving for health expenses is something most people don't think about!

  3. Joy Mae - Millennial Money Talk NYC

    August 21, 2020 at 4:58 pm

    THANK GOD for you explaining this. I never know how this works

  4. Michelle Bainbridge

    August 21, 2020 at 5:39 pm

    We are getting our first HSA account September 1st! Thank you so much for this video. I had so many questions!

  5. thetravelingwanderer

    August 21, 2020 at 6:47 pm

    Great video! Just wanted to add a couple points that some people may find useful:
    1.) You can also pay for these expenses with a credit card (if you're into collecting points/ miles) then get reimbursed later on (just make sure to keep your receipts).
    2.) A lot of professionals also recommend that if you are able to do so, DON'T use your HSA funds and try to pay for things out of pocket now so you can let the money in your HSA grow over 20-40+ years tax free. Additionally, when you reach retirement age, you can withdraw the funds completely tax free and can be used for ANYTHING; not just medical expenses at that point.

  6. Diana Au

    August 21, 2020 at 7:33 pm

    Wish that I knew this when I was selecting my healthcare plan, but now I know. Will be changing when I can enroll next year

  7. Nell J

    August 22, 2020 at 2:22 am

    I always wondered what an HSA was and why my medical insurance didn't have one. Thanks for explaining this! My insurance costs me $90 a month, but it is a low deductible plan so this explains why it doesn't have an HSA attached.

  8. Financial Coach Jess

    August 23, 2020 at 4:11 am

    I wish more people knew about these! There’s so many benefits for FIRE!

  9. Erick R

    August 24, 2020 at 2:57 am

    I am not sure if i missed this point, but can you only get an HSA through your employer? Or can you potentially decline the health insurance that your work offers and go through a private company that offers an HSA? My employer does not offer an HSA and I would like to get one.

  10. ElleonOnline

    August 28, 2020 at 4:30 pm

    I thought you couldn't use it on over the counter meds like Tylenol??

  11. Joe Frias

    September 14, 2020 at 12:24 am

    Great video. Just changed from HRA to HSA, haven't used much of my HSA. Do you have a video of ideas to invest some that money?

  12. Raymond Cunanan

    October 3, 2020 at 1:47 am

    Thank you for this, will enroll on HDHP when enrollment opens. I just discovered it is also useful for everyday stuffs like suncreens, like when you buy on amazon. Sunscreens are not cheap so thats a bang! 😁

  13. Dustin Smith

    October 26, 2020 at 8:19 pm

    My employer wants to switch to hsa i only pay $60 a month now for family, with this plan it will cost $185 a month with a $6000 deductible, I got a rare neurological disease and I think I won't be able to afford to see my doctors before I'm maxed out.

  14. PN Yang

    October 28, 2020 at 9:51 pm

    Hi. I was wondering if you could help me with something. Im trying to sign up for the HSA plan but it's asking how much I wanna contribute per pay check … How much should I put ? Or what is the average ppl put ??

  15. Mar Gal

    October 30, 2020 at 2:00 am

    Great informative video! My employer highly encouraged us to get the HSA option with the increase in deductible plans for this year so having one is new to me. They even gave us $ towards it ($500) and I need to do a better job of maxing it out. Cuz although it’s a good “separate” account for paying medical expenses, it’s really a great triple threat tax break account for wealth management 👍🏻😎 and an underutilized resource 🤑

  16. Kevin B

    November 4, 2020 at 3:47 pm

    If you choose to get contributions taken out of check can you still on your own contribute extra to the HSA?

  17. DC5 duben

    November 10, 2020 at 5:31 pm

    thanks for the great info and making it easy to understand

  18. Diana Nyabuto

    November 24, 2020 at 11:46 pm

    thank you for explaining it soo well! I was wondering could I use my HSA funds to pay myself? I got Braces and I pay for them Monthly?

  19. californiarocks4

    December 6, 2020 at 2:59 pm

    Is a HSA a 401k? I am new to all this and trying to figure out how this is beneficial if you are using this account to pay for medical expenses and this is your 401k.

  20. Anat Goldstein

    December 14, 2020 at 3:50 am

    Do you have to be in a HD group plan? Can you open an HRA if you are self employed, or a sole proprietor, with an individual HD health insurance plan?

  21. Chris Wilkins

    December 20, 2020 at 3:16 pm

    This was great information. Thanks. I have to say that I hate when people do videos or Zoom meetings from their bed. If you don't take company into your bedroom for a visit, why do it online? Your bedroom is nice looking but not a place for an important meeting:-) Just my opinion.

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