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Long-Term Care Planning

How to Supercharge your Health Savings Account [Video]

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How to Supercharge your Health Savings Account

In this video I will share with you how to supercharge your Health Savings Account or HSA.

If you have an HSA you can just use it as a cash fund to pay your medical bills or you can invest the funds and let it sit for a while to grow the amount you have and end up with significant gains which can come out tax free for qualified medical expenses. For example if you put $1,000 into an HSA and then you pay a $1,000 medical bill you got the initial tax savings. What if instead you invested it in the S&P500 which goes up 10% for the year and now you have $1,100. You can go back later and pay that $1,000 bill and leave the extra $100 for a future medical bill. You have all the time you want to pay medical bills using the HSA, you can even come back for the reimbursement years later.

Sean Moran is a financial advisor specializing in retirement planning, college planning, life insurance, disability insurance, Long Term Care insurance and a holistic approach to your personal finances.

Sean has clients in NJ, TN, VA, TX and would love to help you either locally or virtually.

Sean is an author, former corporate tax professional and entrepreneur. He holds a BS from York College of PA and a Masters of Taxation from Fairleigh Dickinson University.

If you are interested in learning more, you can contact Sean at: smoran@redbarnfinancial.com or schedule a meeting here: calendly.com/spmoran Red Barn Financial LLC offers securities through Ad Deum Funds, a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitationfor the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.