WCI #426: A Deep Dive into HSAs

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Jul 3, 2025

Dive deep into the world of Health Savings Accounts (HSAs) and discover their benefits and contribution strategies. Explore the intricacies of transitioning from civilian life to active military duty, focusing on financial management and retirement savings. Learn about the Thrift Savings Plan and its advantages for military members, including traditional vs. Roth contributions. Get valuable insights on early financial planning for military doctors and the importance of student loan refinancing to ease financial burdens.

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ADVICE

HSA Usage and Strategy

Use an HSA only if you have a high deductible health plan as required for contributions.
Keep part of the HSA in cash for spending and invest the rest for growth over time.

INSIGHT

HSA Tax Advantages and Drawbacks

An HSA is triple tax free: contributions, growth, and withdrawals for healthcare.
However, HSAs are the least favorable retirement account to leave to heirs due to full taxation on inheritance.

INSIGHT

Understanding HRAs and HSA Eligibility

An HRA is employer-funded to reimburse healthcare expenses and usually reduces your deductible effectively.
You cannot contribute to an HSA if offered an HRA from your employer.

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Today we are answering a questions about HSAs. We spend time really getting into the details of what an HSA is, who might want to use it when, contribution limits, and what the pros and cons of using an HSA are. We also answer a question about the thrift savings plan and what to do with your retirement accounts when transitioning into active duty in the military.

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