{"href":"http://player.captivate.fm/services/oembed?url=http%3A%2F%2Fplayer.captivate.fm%2Fepisode%2Fbbea3607-b6aa-42bc-8b5b-a8b28ec5fdec","version":"1.0","provider_name":"Captivate.FM","provider_url":"https://www.captivate.fm","width":600,"height":200,"type":"rich","html":"","title":"What\u2019s an Health Savings Account (HSA) and Why Should I Consider It? | E40 Sean Mullaney","description":"In our last episode, we covered so much material about taxes including terminology, the US tax system, and retirement accounts. One topic that came up but we didn\u2019t get to discuss extensively was Health Savings Accounts or HSA.\nI was going to let this go as I always have an endless list of topics I wish I could have covered with my guests but both Sean and I agreed HSAs were too important of a topic to be left unturned. So Sean agreed to come back on and share more of his knowledge.\nA high deductible health plan paired with a HSA can be a great option to consider for young adults with minimal medical issues.\nThis episode is packed with a ton of information including what an HSA is, how to identify if you\u2019re a candidate for a high deductible health plan, the mechanics of how an HSA works, and how HSAs can be used as a retirement account.\nReminder that this discussion is general and educational in nature and does not constitute tax, investment, legal, or financial advice with respect to any particular individual or taxpayer. Please consult your own advisors regarding your own unique situation.\n\u00a0\nKey Takeaways:\n[2:32] What is an HSA and who qualifies\n[9:46] Is a HDHP for me?\n[15:12] What\u2019s a qualified medical expense?\n\u00a0\nFavorite Quotes:\n[7:50] \u201cA HDHP is not optimal medical insurance coverage for every person but for a lot of young folks, it can work really well.\u201d\n[18:48] \u201cThere is no time limit on reimbursing yourself out of your HSA for your old medical expenses.\u201d\n\u00a0\nMentions:\nIRS Publication 502: https://www.irs.gov/forms-pubs/about-publication-502\n\u00a0\nMore of Sean:\nwww.FITaxGuy.com\nwww.mullaneyfinancial.com\n\u00a0\nMore of TSIR:\nFind show notes and more at https://www.tsirpodcast.com/\nFollow us on Instagram at https://www.instagram.com/tsirpod/","thumbnail_width":300,"thumbnail_height":300,"thumbnail_url":"https://artwork.captivate.fm/92c463d4-dd64-4b94-8d2c-f5ad89714cba/cover-art-58-8kpd3.png"}