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In reply to the discussion: The Scam that is Health Savings Accounts [View all]WillowTree
(5,325 posts)13. One more apparent misunderstanding.
If the deductible on your insurance policy is $6,000 as you suggest, you don't have to fund your HSA with that amount every year unless you used it all last year. If you had a total of $1,500 in expenses last year, you just have to replenish the account with the amount used.
Again, these accounts aren't for everyone, but thanks to the tax savings and the savings on insurance premiums, they can work well for some.
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It sounds as if you don't understand that you're not trying to save the whole $250,000.
WillowTree
Feb 2017
#11
I don't know why you think I would know "what percentage of people" are making minimum wage.
WillowTree
Feb 2017
#32
they are a scam in that they greatly benefit higher earners more than they help people
Skittles
Feb 2017
#34
all hsa's do is let you get a tax deduction (not a credit) for certain medical expenses
unblock
Feb 2017
#2
I doubt that Bill Gates bothers with HSA. There are another class of tax payers that get a big
grantcart
Feb 2017
#42
That's RIGHT. They are also pushing another idea that's just as deceptive and bad!
napi21
Feb 2017
#7
That is not how health savings accounts work.. not that they are anything to brag about, anyway
pangaia
Feb 2017
#9
I've had a great experience with HSAs. Your characterization is wrong
taught_me_patience
Feb 2017
#14
In his case, since it seems his employer offers different plans he could then switch
stevenleser
Feb 2017
#23