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The Real TRUTH About An HSA - Health Savings Account Insane Benefits

Jarrad Morrow 1 views

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Very instructive
Comment from : @VictoriaJuice-o5n

Its an alright plan but i dont think its ok for lower earners
Comment from : @Erick-t6k

great video prep!
Comment from : @rembertomendoza3902

This is only available to people who have a HDHP?
Comment from : @neilaleksandrov2655

What determinies a "qualifying high deductible medical plan'?
Comment from : @allib9742

Can I contribute an entire $8550 (family) to my HSA account if my son has Medicaid? He's under my insurance (HDHP) as well
Comment from : @joanna2636

Hey Jarrad, Thanks for your video I just get hired in a company that offers HSA as part of healthcare benefits Now i know what to do and how to use it
Comment from : @gb2310

Very helpful video, first time watching the channel I appreciate the format
Comment from : @SniperGangRaRa

@JarradMorrow my company offers and HSA Savings AND HSA Investing account, what would I do with them?
Comment from : @Javier-lo1ff

I don’t think you can let it “sit” in the account…doesn’t it automatically invest?
Comment from : @mikeanderson1940

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

Good for staying with job for life…but employers lay off…and not ideal to stay in same company anymore
Comment from : @jhope3225

My new employer doesn’t offer HSA, does it make sense for me to continue contributing to my HSA account since the new contribution would be after tax? Or I can just invest the money in other regular investment account?
Comment from : @jinluwang5671

What are index funds ima looking to get an HSA
Comment from : @JosephBernal-nv4dw

How's Molly doing???
Comment from : @fredtippett670

What can Ian the investor use the $363K for? only the health & medical bills delor/del can withdraw cash? if withdrawing cash, does Ian need to pay tax?
Comment from : @nishikanthkota6362

I’m super angry about the estimated 7 growth so I will hit the subscribe button
Comment from : @qbantreefrog

I have this argument with my wife each year, blows my mind that I can't get it into her head that money spent on a low deductable plan is lost FOREVER
Comment from : @chfire2004

I'm a little confused If I invest money I put into the HSA, does any money I earn go back into said HSA automatically, or do I have to specify that or something? I'm very new to this (just got access to an HSA)
Comment from : @Grenn1471

Everyone should be able to have a HSA not just if you have a high deductible plan And not everyone with a high deductible plan has an employer that offers a HSA its BS
Comment from : @vincentkingsdale8334

Haha great content and love using Molly for likes 🐕👍
Comment from : @betta1fish

Is there a debit card associated with an HSA to pay as you need?
Comment from : @enr3334

If you have double coverage, can you do an HSA?
Comment from : @RobertBunday

The sound effects make this unwatchable
Comment from : @TV-fx8gq

I thought you loose the money you don’t use at the end of the calendar year 😢
Comment from : @bjbalva

I think I need a professional to help me with my investment There’s so many options for HSA and 401K
Comment from : @gunfighterdrummer

90279 Farrell Forks
Comment from : @kaitlynmierswe4017

Actually i am working for good year and they offferS me to choose between HealthEquity or with WageWorks what would you recomend me to do ?
Comment from : @myli-o9f

Wow this is great content and I am typically incredibly critical Great work
Comment from : @alex-wilhelm

Why not invest your money into a high yield savings account if you pay for medical expenses out of pocket? Seems like you would accrue more interest that way 🤔 Wouldn’t that be more beneficial than an HSA?
Comment from : @MrJunit69

There so many accounts for everything in life when you stop to think its like damn living kind of sucks fr
Comment from : @sebastiangarcia5998

I can't afford to put much money into my hsa Can I put only $500 weekly?
Comment from : @ArizonaHotHomestead

I’m having a live event rn so hopefully I will be eligible to switch my current healthcare plan to the one that has a HSA!
Comment from : @The757bowler

Doesn't this only make sense if you're already maxing out your 401k/IRA contributions?
Comment from : @epfrostwraith

Great video Just to clarify, the end goal for the saving that large of money in example of 'Ian The Investor' was mainly for retirement correct?
Comment from : @therealyousef

(5:17) 💯⭐️🎯
Comment from : @survivorship4290

Do you know if you bank statements are enough proof for medical expenses when reimbursing youself?brbrAlso, Depending on the state, you still have to pay state income tax on HSA accounts
Comment from : @yospa5074

I’m sorry you’re wrong If you use HSA you get 1099-SA
Comment from : @Oliviassexton

California residents: Don't sell any positions or you'll be taxed by state Also, not tax deferred for the state
Comment from : @thehiddenexperience4116

I would be curious if anyone has an HSA with a family member who has type 1 diabetes? We would of course max our out of pocket deductible within the first month, but would it be worth it? And does that money roll over into your health savings account?
Comment from : @lakynmeads4127

Is Parent and 1 child considered family to double in contribution ?
Comment from : @myronhights4425

if i have medicare can i start an hsa account?
Comment from : @salsabour9583

I wish I watched 10 years ago 😂 I only started investing 3 years ago
Comment from : @vivii1219

How does the IRS even know if I was enrolled in a high deductible account?
Comment from : @eduardogarcia9793

HEALTH IS WEALTH ❤
Comment from : @chucalissa9231

My friend contributed into HSA 2 years in a row before he realized his insurance plan is not really qualified He said while filing it was pretax so i told him if IRS finds out he'll get penalized Je already got his refund and will not be contributing for 2023 onwards what happenes if he just left prior 2 years as it is how does IRA even know if thr health insurance is really qualified? As far as i know brokerage does not verify tue insurance plan, insurance companies do not reply to IRS Seems like a big loop hole?
Comment from : @sunnyBLR

I see what youre getting at but disagree with a lot of this Just use HSA for medical expenses and put the equivalent money you would have spent into 401k/roth/investment account
Comment from : @_Mercenary_

$300 out of pocket would have only cost you $225 in pretax income You’re choosing to spend an extra $75 on a $300 doctor bill? What kind of advice is this? No market is going to out perform 25 in pretax income
Comment from : @whermanntx

300k in medical money!!!!!? 🤩brIn 30 years…? 🫣brMy brother had a bill north of 400k for a two week stay in ICU in 2022😖
Comment from : @augurcybernaut4785

I have no insurance would I be able to make contributions into HSA from my previous employer
Comment from : @rosecanete353

I think mine only allows 500 carryover to the next year
Comment from : @flARTlife

HSA is for health expenses, not for stock market YOLOing
Comment from : @sokratzmmf

Exactly what I was looking for just gained a sub!
Comment from : @LateNightCrypto

Did I miss on the part on how to withdraw money for non_medical reasons? Do I have to wait until I am 65 to pull out money for non medical expenses? So how does the IRS know I used it for medical versus non medical expenses? Do I have to send irs receipts???! Did I miss something in this 20 min vid
Comment from : @armandm2166

Not paying medical expenses with HSA is awful advice Invest the extra money in stocks and use your HSA as no tax money You’re losing 30 or so if you buy cash vs HSA Horrible advice
Comment from : @jakoblozeau8832

My hsa is different I need to use it within a year because they will rollover 500 only the next year 😢
Comment from : @03shanemcgregor

The thing is tho my PPO is great I pay $80 a month for a premium and get 90 coverage and a deductible of 500 Max out of pocket is 1000 Is HSA still worth it here?
Comment from : @BaeRomano

Can you pull money out to buy a house?
Comment from : @BaeRomano

I'm in South Dakota Im in the process of getting a high deductible health insurance plan, so I'll get to contribute to an HSA brQuestion: am I able to make a portion of it cash? If I use up the cash portion in it, can I automatically make new contributions cash until there's enough for my deductible/max out-of-pocket?
Comment from : @shaereub4450

Does coinsurance count as a medical expense for HSA?
Comment from : @PPCCO

Are medical bills tax deductible?
Comment from : @diewson

I need an after tax hsa video…my employer doesn’t have a pretax hsa
Comment from : @jmend8859

The worst custodian for HSA funds is HSA Bank Absolutely horrible platform Moving everything to Fidelity
Comment from : @Corkfish1

Great Video! What happens if divorced parents cover the kids separately? Parent 1 employers offers HMO only Parent 2 employer offers HSA only
Comment from : @cynthiasamson7232

How is an HSA beneficial to me if I’m a retired Veteran with a 100 VA disability rating?
Comment from : @markcasimir2183

Funny stuff 63 of America can't afford a 1000 dollar emergency expense brbrWhat percentage of Americans can afford to essentially pay double for medical bills under the assumption they'll live to 65 Roflbrbr Who needs this advice? A tiny subset of high earning but stupid people who don't have good employer insurance or choose to take a HDHP over a real medical plan to hide some investment income
Comment from : @shosaisyu

They should teach this in High School
Comment from : @Franklinsone

My employer contributes a lot I put in 75 a month and they put in 150 So im saving 225 a month It may not be a lot, but were in our early 30's and hardly go to the doctor so itll add up quick
Comment from : @NvrDwn89

Question:brAre you able to have HSA with fidelity 50 for investment purposes and 50 for health coverage?
Comment from : @fabriziocusto8551

That means you don't really need a lot of medical expense For a family with kids that need to see providers regularly, it seems not a good choice
Comment from : @melody-RN-BSN-MSN

Your charges are higher on these plans I still have a pre ADA plan Trust me, you're being screwed Your charges are at least 3 times higher and I pay the exact same premium price as I can get through my employer I paid $800 for an outpatient procedure, and the same procedure with the High deductible HSA would have been $2800
Comment from : @xanderz161

This is like driving a nail with a screwdriver
Comment from : @account2292

Well don't do this BEFORE you max out your ROTH
Comment from : @arcticredpanda4598

Figures my plan is on the high end of deductible and out of pocket max I laugh😅every time people say they insist on you needing your deductible covered bc my deductible is higher than I'm allowed to put in for the year
Comment from : @rebeccazeman9309