Tag Archives: retirement

The Best Health Savings Account – An HSA Redux

I left my old job in mid 2015. That was a grand moment. As the year came to a close, I enjoyed the last few remaining winter months happily unemployed and free. Then, in March, I went back to work.

Anyway, that doesn’t matter. This story isn’t about work. Instead, it’s all about a little HSA account I adopted way back in 2013, and its now rather imminently impending replacement.

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Tricking Tax Year 2015

That title just sounds a lot slicker than “Unusual Retirement Account Funding Techniques.

Last year in April I wrote Debt Free, my ode to faithfully filling up my Vanguard Traditional IRA to its $5,500 brim. At that time I was about $2,500 short of maxing out my IRA. My solution was to fund my Target REDcard (since discontinued by American Express) by charging the $2.5k to my Capital One VentureOne card, withdrawing the balance from REDcard to my checking account, and finally transferring the funds to my IRA account.

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HSA Fund Analysis

A Health Savings Account (HSA) incentivizes saving for medical expenses and is made available as a feature of high deductible health plans. With my employer, I have the choice of either a high deductible health plan (HDHP) or a normal health plan. Opting for a HDHP makes sense at this point in my life because I am young and have great health. A HDHP is also one-fourth the cost compared to the normal health plan and still allows annual medical checkups and coverage of the common medical disaster scenarios (albeit at a higher deductible).

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