Episode 234: All About HSAs with Bill Stuart

Women's Money Wisdom

Unlock the secrets to maximizing your Health Savings Account (HSA). Discover strategies that can turn your HSA into a powerful financial tool for both immediate and long-term goals.

Melissa Joy, CFP®, is joined by Bill Stuart, a leading expert who has been pioneering HSA knowledge since their inception in 2004. In this episode, they guide you through the myriad benefits and complexities of HSAs, revealing how these accounts combine the best features of IRAs and FSAs. Learn how to save pre-tax dollars, grow your savings tax-free, and make tax-free withdrawals for qualified medical expenses—all while ensuring your plan is HSA-eligible.

They discuss treating your HSA as a lifetime account, allowing funds to accumulate tax-free without the pressure of annual reimbursements. They illustrate how paying out-of-pocket for medical expenses can let your HSA grow, which is especially beneficial during retirement.

They also explore the investment potential of HSAs and their role in bridging the gap between early retirement and Medicare, highlighting the importance of selecting the right beneficiaries to ensure continued financial support for surviving spouses.

Tune in to understand how you can leverage HSAs to their fullest potential and safeguard your financial future.

Key Takeaways:

• HSAs offer immediate tax benefits and can be used as a powerful tool for retirement planning.
• Eligibility for HSAs is based on specific criteria, including the type of health plan and coverage.
• Contributions to HSAs are tax-deductible and can be made by both individuals and employers.
• HSAs offer investment options, and the funds can be used for qualified medical expenses tax-free.

Resources:

• Purchase Bill’s book: HSAs: The Tax-Perfect Retirement Account
• Connect with Bill on LinkedIn

Links are being provided for information purposes only. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warr

The previous presentation by PEARL PLANNING was intended for general information purposes only. No portion of the presentation serves as the receipt of, or as a substitute for, personalized investment advice from PEARL PLANNING or any other investment professional of your choosing. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy, or any non-investment related or planning services, discussion or content, will be profitable, be suitable for your portfolio or individual situation, or prove successful. Neither PEARL PLANNING’s investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. PEARL PLANNING is neither a law firm nor accounting firm, and no portion of its services should be construed as legal or accounting advice. No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. A copy of PEARL PLANNING’s current written disclosure Brochure discussing our advisory services and fees is available upon request or at https://stephenPearl Planning.com/

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1. Episode 234: All About HSAs with Bill Stuart (00:00:00)

2. Understanding Health Savings Accounts (00:00:01)

3. Maximizing Benefits of Health Savings Accounts (00:12:40)

4. Investing and Maximizing Health Savings Accounts (00:16:05)

5. Financial Planning for Women's Health Expenses (00:30:21)