In this special two-part episode we unveil the 'Wealthy Custodian,' Jeff York (from episode 74 & 76), and take a deep dive into the world of Health Savings Accounts (HSAs). Jeff joins as co-host along with Bill and Jackie (our HSA Maven) to share how they supersized thier HSAs and discovered how powerful they can be on the path to FI. This comprehensive series starts with Part 1 where we explore tips, tricks, and common misconceptions about HSAs and tackle little known strategies that are rarely discussed. We'll also talk about who should consider a high deductible plan, eligible expenses, bright ideas like using your HSA for health expenses abroad, and even IRA to HSA transfers. Whether you are new to HSAs or looking to maximize your FI strategy, you won't want to miss this episode. Stay tuned for Part 2 where we explore HSA drawdown strategies, advanced scenarios and answer listener questions!

For this episode we are providing a formal presentation here:

Thank you to our sponsors:

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Resources mentioned on the show: (As an Amazon Associate, I earn from qualifying purchases.)

HSA Rules and Regulations (IRS Pub#969)

Qualified Medical/Dental/Vision Expenses (IRS Pub#502)

Preventive Care and Chronic Conditions (IRS Notice)

Morningstar / Best HSA Providers

Kitces / HSA ‘Deathbed Drawdown’

Fidelity / HSA Education

Wex Health / HDHP with HSA vs. traditional health plan calculator

Consumer Friendly List of HSA-Eligible expenses

🕒 Time stamps:

00:00 Introduction to the Special Episode

00:07 Unveiling the Wealthy Custodian

00:33 Diving into HSAs: Tips, Tricks, and Misnomers

03:00 Personal HSA Journeys

13:09 Understanding High Deductible Plans

25:02 Flexible Spending Accounts vs. Health Savings Accounts

28:11 HSA Eligibility and Contribution Limits

34:09 State-Specific HSA Tax Rules

37:58 Unique Provisions for Different States

38:10 Understanding the Last Month Rule

40:09 HSA Eligible Expenses

41:48 Supersizing Your HSA

42:27 Investment Strategies for HSA

44:50 Maximizing Contributions and Advanced Strategies

47:20 Reimbursement Strategies and Record Keeping

52:40 IRA to HSA Conversions

01:02:16 Bright Ideas for HSA Usage

01:09:21 Using HSA Funds Abroad

01:11:30 Conclusion and Final Thoughts

Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.

Ali Heckerleif

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