prosopis
Arizona Chupacabra
I am currently looking at the government health insurance plans. The affordable one for my family is a high deductible HSA plan. I don't really understand the HSA account part. My insurance broker tells me I don't have to open an HSA account but suggests I do and that I at least put the minimum in.
I sent an email to my credit union asking if they offer an HSA account and I am waiting their reply. Looking at their website I am guessing the answer is no.
I did a brief google search and I see many HSA banks. It looks like I can deposit money into these accounts and that money is tax deductible. I am also getting the impression that I can invest that money. It looks to me like the money has to be used for health related stuff until the age of 65 (I think it was 65) and then I can use it for anything.
Am I correct? Is this a good thing to do?
Any guidance would be appreciated.
* If anyone has an HSA bank they are fond of I would like some recommendations and why you would recommend them.
I sent an email to my credit union asking if they offer an HSA account and I am waiting their reply. Looking at their website I am guessing the answer is no.
I did a brief google search and I see many HSA banks. It looks like I can deposit money into these accounts and that money is tax deductible. I am also getting the impression that I can invest that money. It looks to me like the money has to be used for health related stuff until the age of 65 (I think it was 65) and then I can use it for anything.
Am I correct? Is this a good thing to do?
Any guidance would be appreciated.
* If anyone has an HSA bank they are fond of I would like some recommendations and why you would recommend them.