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Why Should I Use a Health Savings Account (HSA)?

The Ramsey Show Highlights 638 views

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Dave obviously knows nothing about insurance
Comment from : @tluva1020

Very instructive
Comment from : @AnnaWilliams-b1w

I'm turning 26 soon, and no one ever taught me about this I try to be cautious of advice from the internet and others, so I'm unsure what to do with an HSA that I never even wanted
Comment from : @kaitlyntenters9283

I’m looking to maximize my savings for future medical expenses and potentially use it as a retirement tool I’ve heard they’re tax-advantaged, but I’m not sure how to get started
Comment from : @Fedrick-jo2ed

The Affordable Care Act (aka Obamacare) gave us 100 coverage and preventive healthcare, Dave 😂
Comment from : @flygrrrrl3753

Please don't limit your learning to this video alone Health insurance and medical spending accounts are complicated Keep learning with other resources!
Comment from : @Medicents

When it comes to moneyI trust white folks' opinion 👍🏽
Comment from : @BetoLopez-h9k

You can invest the HSA money You can pay out of pocket for medical expenses, keep the itemized bills, and pay yourself back any time in the future It's portable, if you leave your job, the HSA is yours to keep
Comment from : @bubb-ht6hh

Not necessarily true in my area the hsa approved health insurance is actually more expensive than the ppo plan
Comment from : @George-hl2xm

I'm 58, and my net worth is approximately $80k, under the median I have $10k in an emergency fund, no debt, I max out my HSA, and I'm contributing 25 of my income to a 401k I can increase that percentage each year I know I'm behind, what can I do to catch up?
Comment from : @cruz3076

My job didn't have an HSA, but my health plan qualified for one So I opened up on with Fidelity and it's almost the same as a 401K, but has more pluses I plan to use mine to pay for Medicare supplements that you normal have to pay for and other medical expenses when I retire
Comment from : @CasiodorusRex

This moron talking "Obamacare" bankrupting the US did not age well LOL
Comment from : @maxsecrest

53503 Kendall Rue
Comment from : @billysegustman1596

Should someone in their 20's invest in a HSA?
Comment from : @leejohnson3270

43359 Pfannerstill Harbors
Comment from : @NoraRenata

Considering the increased complexity since the 2008 crash and COVID, I suggest diversifying your financial portfolio I hired a manager and successfully grew my assets by over ($150K) during this turbulent market using defensive strategies that protect and profit from market fluctuations
Comment from : @AnnieHolsen

2874 O'Keefe Haven
Comment from : @MorleySusanna

18442 Vidal Squares
Comment from : @RichardFord-o8x

67024 Porter Club
Comment from : @KatteIngrid

If I’m on a high deductible plan and don’t want to touch my HSA, should I just set aside a budget line item for anticipated pregnancy/birth costs? And if so, how much should I shoot for?
Comment from : @paulmorang8340

So if you have a medical condition that requires surgery and hospital stay, your screwed right? I have a PPO that paid $180,000 and I paid $4,000
Comment from : @chrisholmes3544

7556 Marvin Valley
Comment from : @SophiaBlanche-y4v

I am going to look into this because If I can use this money to pay for health insurance premiums I will consider retiring at 62 1/2 and pay the insurance till medicare starts
Comment from : @snow40741

884 Alycia Rapid
Comment from : @adanaiaholiday6269

Edna Mission
Comment from : @RhondaSmith-l5k

Roberts Mount
Comment from : @LouisAguon-s4m

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money I started investing with $150k and in the first 2 months, my portfolio was reading $274,800 Crazy right!, I decided to reinvest my profit and get more interesting For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family
Comment from : @Pelham04

Mallie Street
Comment from : @ConnieChipley-w5b

Laura Square
Comment from : @ChanderjitVohs-t1j

663 Eda Way
Comment from : @ChristElroy-z4i

Kacey Cape
Comment from : @CandyceDirocco-c2v

28718 Hane Tunnel
Comment from : @JenningsRosalind

God Ramsey is so cheap he sticks it to all us poorer Americans to fund our country He claims 150k in a HSA! Hes so wealthy grifting us into his highfee MUT-FUNDS , syphoning off commissions Hes a typical superrich grifter, like trump! Thats all he is! 😮 bad person!!
Comment from : @BuddyDog9267

Soooo we pay taxes for healthcare, separate for health insurance but we should still pay for HSA…are you serious You shouldn’t have to do this to get medical care period
Comment from : @michaelmiller4105

Rachel: "Dad, I think I broke my arm"brbrDave: "Beans and rice Rice and beans"
Comment from : @matthewmchenry9331

Can you have a HSA and a FSA (for medical) at the same time?
Comment from : @cathleenarutunian4828

Dave, I hope you go to jail for fraud
Comment from : @Susieq26754

He forgets to mention you can easily lose everything in your HSA! If you get fired within 1 year your whole saving is gone If you get fired after a year and your new employer doesnt have a HSA to transfer to the money is also gone! I lost my whole HSA savings Idk why everyone ignores this huge risk I never would have signed up if I knew
Comment from : @PhilipRego-k7l

Uh no PLans cover 80-90 after your deductible not 100 You need to meet your out of pocket max to get 100 coverage The two things are very different Basic stuff Dave, wake up and educate yourself before you give people financial advice, it is your job after all
Comment from : @rightsaidmatt2632

Key thing is you need to have that 5k in your account every year, so if you have one emergency it’s gone And most plans don’t cover 100, you still of out of pocket maximums This guy is a snake oil salesman
Comment from : @scotswahae4541

By fund some of these caps, I hope u are referring to tax cuts for rich and wealthy folks like you? 😅😅
Comment from : @Devilluze

Rich conservative guy is clueless about life outside of his wealth The millions of Americans covered under ACA that wouldn’t be otherwise don’t think of the law as “stupid Obamacare” But hey, nice vague criticism If you want to hear more political takes with nothing to back them up, keep listening to Dave
Comment from : @bobloblaw9362

Geniuses in my company make hsa premiums (for us folks making more than 200k ) almost identical to the HMO premiums brIf you make 190k, your premium is 700 a year, if you make 200k, it's $4300 brbrUnreal
Comment from : @rajvo7406

Your employers HR can explain benefits in greater detail
Comment from : @tristanrodenhauser5267

I have a HMA it’s great to have too check it out if u haven’t I think it a great choice
Comment from : @kingross1985

It would be so much easier to just let us deduct it from our income at the end of the year
Comment from : @nejiskafir8198

HSA's a scam for companies to avoid violating obamacare on the cheap and for insurance companies to never pay anything out the companies that offer these plans do not pay enough to be able to afford to put any money into the HSA, and you still can't afford to go to the doctor
Comment from : @sixwingproductions

I'm confused on how the people on YouTube are talking about "investing" with an HSA I don't see anything in my insurance that describes HSA and chosing investments once it's in there I am also not sure about how it rolls over
Comment from : @CandycaneBeyond

So how do I turn my HSA from a savings account to an investment account??
Comment from : @Dbeststuff

I’m looking into my company’s HSA plan (fully covered by them) but I see that I would pay 30 after reaching my high deductible Is this still worth it? I heard Dave say In this video his is covered 100 after reaching the high deductible Would you still recommend me to sign up for mine if I have to pay 30? Thank you!brbrKeep in mind that I don’t have to pay anything monthly due to the company covering it for me I’m on the reg PPO as of now Thanks!
Comment from : @NbaLive4ever

I just spoke with my insurance agent She recommends an HSA for me I suggest talking to your agent and seeing if it is a good thing for you As a single person, I can contribute $5400 I can also contribute $1000 because I'm 58 years old I will have a tax write off of $6400, meaning that I will lower my income tax by $2000
Comment from : @keno1069

After learning how to manage my income by listening to Dave I've finally reached the point I'm trading markets and building my own business
Comment from : @WiCapitalco

The healthcare system will find a way to take that 150k from Dave
Comment from : @0my

does anyone have an HSA and HMA?
Comment from : @NicolKOsborne1894

Is there any cons having a lot of money in this account when you report your taxes every year ???brThank you
Comment from : @jimmyfigueroa3911

Found your post interesting to watch I can't wait to see your new videos soon Good Luck with the upcoming update This YouTube channel is really very informative and effective
Comment from : @telsamorgan5369

Question: I have an HSA account from my previous HSA plan which is no longer active as I moved to my spouse's HSA plan brCan I put my own after tax money directly to HSA bank account and invest? brWould the limit be same of $3650? brand would there be a tax on gain?
Comment from : @ravneet003

My question would be is it better to simply try and cover your medical bills and allow the HSA to just grow? I understand the pretax and after tax argument Use the HSA only if it’s catastrophic and allow HSA to stay invested and grow?
Comment from : @TG-to3dv

My hsa premium is higher than my hra premium
Comment from : @lionmangolf

Do not have to worry about this now, On Medicare las year spent 10 days in the hospital bill was 550K, costed me $650 that included the 24/7 ER visit, Ambulance ride and hospital bill
Comment from : @altha-rf1et

How do you move your money from your HSA account into an investment account? Sorry this is my first year having an HSA and I don’t understand all the details
Comment from : @msashley7643

Plus with an HSA I write off 8100 a year on my taxes Thats a direct writeoff, not a percentage of medical bills I will slowly build it up over the years
Comment from : @robertsmith6408

Question does making deposits into my hsa offset or lower my federal tax liability??
Comment from : @curtisowinfrey4375

I understand that if I setup contribution to HSA through my employer it goes pre tax But if I put in the money I have in bank which is already taxed, how do I get my tax paid on that amount back?
Comment from : @IC-kf4mz

Split a check and get that money into your HSA with HSAPAY
Comment from : @craigwright341

Should I if I’m about to go to grad school within 18 months of starting this position?
Comment from : @dartagnanharris3661

Another example of why he knows nothing
Comment from : @docp667

Why do we have $1800 premium and $3000 deductible? Healthy chiropractors We just pay either way
Comment from : @docsimo412

I am currently maxing out my HSA and investing any contributions My goal is to get my balance high enough and eventually move into dividend paying stocks and let the dividends received pay any medical expenses incurred
Comment from : @toystoryyeselliotmooseno7014

What happens if you don't have a high deductible health insurance plan and you opened an HSA? Do you need to withdraw your money and close the account? What happens to the growth from the account? Any advice would be appreciated
Comment from : @hungrypersian

Can you still use HSA for taxes, if you use standard deduction? In other words, not itemized taxes
Comment from : @dougprentice1363

Just curious So what are you going to do with your 150k HSA nest egg?brGet a heart transplant?brPut it towards old-age health expenses?brIt’s not like you can buy a home with it
Comment from : @josephhuether1184

After they gutted Obama care We all saw our insurance premiums spike, So I’m wondering why they would hate a lower cost plan
Comment from : @KillroyX99

I have 80/20… soooo I should switch to the HSA ???
Comment from : @Ali-Muscle

How much money are you allowed to have in your hsa account
Comment from : @simplysunshine30215

I max out my HSA every year It’s a nice savings account
Comment from : @Mina-rb5ut

so if its pre tax does that mean it lowers the income that i will get taxed om at the end of the year?
Comment from : @chachee15

1:52 Dave reveals he is in the 35 tax bracket 😂😂😂
Comment from : @vitriumgaming1038

Can you ever draw the money out for non medical reasons? What happens to it when you die?
Comment from : @ArkansasEV

What if my employer offers health insurance but no real HSA Can I just fund one independently like at fidelity? Or is that a bad idea?
Comment from : @tjbroussard3524

My employer has a HSA option and I am thinking about using it I can put in 3,100 and my company will match $500 per year to max out at $3,800 Is this normal and should I start a HSA next enrollment
Comment from : @gavinmurdoch1148

Dave Dave Dave sometimes I wonder about you 🤨
Comment from : @millicentowens3435

Those are dumb Use it or lose it Just set up and contribute in a special bank account at your bank
Comment from : @miketheyunggod2534

He actually missed alot of benefits that HSA's offer
Comment from : @pearltimes12

No one knows everything, even you Dave Connect your HSA to brokerage account and invest those money in some stocks for compound growth…I’m not financial advisor-do your own diligence)
Comment from : @EduardGamiy

What if you don't need to use the HSA? How do you get your money? Do you get penalized if you take it out for non health purposes?
Comment from : @crystalhan3588