10 years before I retired, I maxed out my HSA contributions and then I took 2/3'rds of the account and put it in an ETF so the money can grow. The savings account has been wonderful for paying my yearly medical bills. I have not had to replenish it from the ETF money yet. I'm so glad I have an HSA. The money is there when I need it.
It’s sad in America when a family of 5 has to pay $1500/month for basic health insurance. Add in mortgage, bills, food and you’re tapped out. Our parents generation never had these expenses.
The problem is over regulation. You have no idea the increadible ammount of regulation the health sector has. There is also an abundant redundancy of personal. I was a Dr in Costa Rica and 1 nurse could do what 3 nurses do here in the US.
I don't use my health insurance because the deductible and out of pocket expenses are so high. Whenever I must see a doctor I call around asking for cash prices and they ask why I don't have health insurance. Once I'm done negotiating cash prices, its still cheaper to not use my health insurance and pay cash. Its silly how expensive health insurance is.
Serby they also didn’t have around 20-30 years inflation and they had crappier healthcare. Not saying 1500 is affordable but he also had private, not government insurance..
HSA are a great retirement vehicle. You contribute tax-free (this is the tax savings he was referring to), it grows tax-free, and you can use it tax-free for qualified expenses. Once you reach retirement age, you're able to withdraw for anything and not pay penalty, only income tax. I'm surprised a financial advisor would advise against them.
@@teebone2157 I pay with my taxes, i paid for 10 days in the hospital 100€, i had also a surgery, broke my nose. My parents are retired and nobody here in Austria, nobody has to ask for permission for anything, there are no deductibles. You only have to pay 10€ for a day in the hospital, that is it. And when you even have that money, the government will help you out.
I have HSA. I love it. $120 per month in premiums with $1700 deductible. I don’t really ever go to the doctor so I just max it out and invest the funds.
Horrible advice wow. HSAs are triple tax advantaged and you can invest the money and use it for retirement. This would have been a great opportunity for Dave to educate people about the great benefits of an HSA and instead he said don't bother with it. Really disappointing.
If you need to use it for health expenses that's fine but after age 65 you can use it for anything tax free. If you have an account to save tax free going in, tax free growth and tax free going out why wouldn't you take advantage of that for long term savings?
@@dexterm1285 None of it is taxed but the max amount you can deposit per year is low, $3.5k compared to 401k or IRA's. It's supposed to be for healthcare so it's in a nice tax-shielded bubble that other retirement accounts aren't in. Look up videos for HSA investment accounts and you'll be a fan too.
I'm surprised at Dave on this one. An HSA is QUADRUPLE tax free! Tax free contributions, tax free growth, tax free withdrawal, AND Medicare and social security tax free! After emergency fund max that sucker out!!!
@@richard1113 How is it a good option. He is going to need to take a proportion of his income and put it into an account that he can use for health care and then pay the insurance company extra for the privilege and they will then to the funds that are in there and invest them and get a good 8% return. Would it not be better just to have 7000 sitting spare that you can then invest at 8%. After 10 years that 7000 will be about $15,000. If he pays the extra $60 a month that will be about $7000 in 10 years time (not factoring inflation). That savings you refer to in taxation will only apply on the amount paid to the account which will have a limit.
@@bighands69 I can tell you've never had an HSA, have you? As a matter of fact, some HSA accounts, including mine allow you to invest your money, not merely have the cash sitting around. It's really no different from an 401k or IRA in this regard other than it is for healthcare. But even better is that HSAs are triple tax advantaged. The money goes in untaxed, your money grows untaxed, and it is withdrawn untaxed. That's why it's a great... not just a good option. Check it out! :)
Also you can issue claims against your HSA for 5 years. Meaning you can pay for costs right now out of pocket and then claim the expenses 5 years later, while that $ grew like a 401k! Max contribution is 7k per year per household and will always roll over. It's simply a no-brainer.
Katrina Umana No it is because the federal government is owned by corporate America and the money that should go to healthcare is skimmed off by greedy insurance companies. Ever noticed how none of them go broke?
Katrina Umana Debt crisis- I worked through school,got a marketable career,and a student loan I could afford doing the math. Remained focused, no marriage and NO KIDS. Then the ANG/Air Force paid the rest. Then $160k/yr career in aerospace. Housing crisis- I bought a home I could afford and paid it off in 9 years. Also paid $240k cash on a $650k short sale condo on Marco Island as second home during the Great Recession/housing crisis. Expensive healthcare plans- I'm retiring years before I qualify for Medicare next year and will be paying zero to $150/mo. premiums for healthcare instead of $1200-$1400 a month. No issues.
For profit health care plus for profit health insurance for coverage is your culprit. Both British NHS and South Korea’s single payer, while different, Provided me with better coverage for less money because they actually got it right. America is like number 37 on the list
Do the HSA and invest the money. I was a fool and let the money sit in a HSA savings account for six years during the stock market boom from 2010-2016. I still got alot of HSA money, but I regret not investing it sooner.
cutehumor Never cared for HSA but many do this at work. I prefer to just contribute to my Roth 401K,Roth IRA,emergency fund,invest,save. I will pay my deductible,copay,or whatever with through other sources. And no I'm not missing out with a 1.6 million megaRoth IRA.
+cutehumor If there is a stock market crash and there are big holes in the state of federal programs that HSA will get raid by stealth taxes. Some people have the most terrible advice.
Being a multi millionaire these concerns are not 'real' to Dave. Those concerns fade as wealth increases. . When listening to his show (I agree with most) I get the feeling the shtick is showing it's age.
@@stormysmurf I just went with the high deductible plan every year since then and max out my hsa. I have really high medical needs but I still have about 1k left in my hsa every year, so it's been worth it.
I pay $12 a week with a $8,700 family deductible (half that per person till met) with the HSA option. I max mine out every year. Medical bills are expensive enough why pay taxes if you don't have to.
I have a $1k deductible with max $4.5k out of pocket. This is on my employer’s most expensive plan, but due to my tenure they pay 50% of the plan, so I pay around $400/month for myself and children. No HSA option, so I have a Home&Health sinking fund.
If you aren't self employed there are some companies that will put money in a HSA for you. We put almost all of our health expenses through ours and we don't have to take money from the rest of our budget to take care of ourselves.
Dave, I searched most of your videos and I cannot find anything containing your thoughts on fitness and nutrition. Typically, these are directly tied to one's financial situation, particularly later in life. Understanding there are everyday risks on life, one can also significantly sacrifice his/her health while attempting to achieve your guidelines. I hope you will comment on this soon, or perhaps, lead me to a video/publication where your thoughts have already been recorded. Thank you, sir.
MAX out your HSA each year. then pay for your health expenses out of pocket. treat the HSA like a retirement account. by retirement age, you can use it like a normal 401K. it's the only triple tax advantaged account out there
+Medic311 You are only saying that now about HSA but in 20 years time when it is needed it may not be there. It could be taxed to high heaven. If you had $7000 invested at 8% it would be $32,000. Tax deductions are not going to beat that.
@@bighands69 flawed logic. you keep adding to your HSA like a retirement account so it keeps growing and compounding. if you are worried about medical emergency outside of your emergency fund, you can set aside 1 yrs worth of out of pocket max into a money market fund option within HSA and invest the rest. but really you don't want to touch HSA at all. if you are worried about future taxes in retirement, then you can hedge your bets and max out Roth. the government has provided many tax-advantaged avenues out there, it's up to you take advantage of them (no pun intended). the key to doing well financially today? follow ramsey's debt strategy, outright own multiple rental properties, max out every tax-advantaged opportunity you can. you will retire like no one else so you can live like no one else
1400 a month for healthcare is ridiculous. Also alot of ailments like diabetes, high blood pressure, high cholesterol and more can be prevented . By eating a good diet. So eating healthy will in turn stop you from getting diseases . Eat healthy .
True, lifestyle is a big part but all those ailments you listed can have heredity have a big say on how well your body does over time. Even Jim Fixx died of a heart attack.
high blood pressure and cholesteral are usually side effects of much bigger issues. I developed thyroid disease and my levels are through the roof regardless of what i eat because horomones regulate everything.
Dave, WHO in this country has only a $1,000 deductible on a $1,400/month premium for a family of 4 or 5?! I’m in the same boat as this caller...only way to get that cheap of a deductible is to pay quadruple what we pay now in premiums.
This poor guy doesn't understand how an HSA works. It is not a replacement for insurance. It goes hand in hand with a High Deductible Insurance Plan. It only "costs" you what you put in it. It allows you to pay your medical expenses pretax and allows you to invest within the plan.
Most people do not have a $1000 deductible anymore, especially in FL. Our insurance is insanity. What he’s describing is more like what people have now.
Watch out for Health Equity's investment fees. Even my employer sponsored plan incurred a 0.03% MONTHLY fee. That is 0.36% a year!!! Read the fine print
250k a year is good money but $1400 a month and needing $6500 before insurance even matters is sizable. You could literally have an brand new Porsche or other 100k car outside your house.
@@pkal244 once you reach retirement age, it acts like a 401K for non medical expenses (you pay income tax on withdrawals). for medical expenses it's still tax free
@Sir We Are About to Die The US government pays more per person than any other country for health care and they get it for free. We need to eliminate private health incurrence and only have a public option.
why would the higher deductible plan be more expensive than the lower deductible plan. the plans that offer HSA's usually cost alot less than the non-HSA plans.???
In order to qualify for the hsa plan with Cigna I had to get the 2000 dollar deductible...and I never spend that much so I never actually get to use my copay or coinsurance. Next year for the same plan my insurance will double.
I found my hsa to be useless, i couldnt use the money for anything other than perscriptions and then couldn't have the money after the end of the year.
I understand that the HSA premium as well as any money put into the savings account are both tax deductible as long as the the savings are used for eligible medical expenses. Correct? With the HMA (Health MATCHING Account), how are the premiums and the matching dollars taxable?
What's horrific is that the average wait time from cancer diagnosis to first treatment is over twice in the UK what it is in the US. Free healthcare isn't much good if you're dead
+Jack Morris You are only saying that because you do not actually understand the financial difference between the two countries. You are willing to pay higher taxes which in the long term will cost you far more money than the US health insurance system. Florida has some of the best healthcare centres in the world. He for his insurance can get access to the likes of Harley street in London (only the rich do in the UK).
My husband's grandmother gave up hoping for a knee surgery after being on the waiting list for 4 years. Her remaining years were in a wheelchair. Also, his step mother spent her life as a caregiver for the elderly that involved lifting and bending and she had to quit and was in horrible pain. It took her nearly a year to see a specialist, 6 months to get her surgery and after the surgery was sent home with pain pills, no physical therapy or any type of after care. There may be other countries doing it better, but I haven't been impressed with my husband's former home country, even if it was nice that I was able to go to a clinic in a mall to take care of something minor and get an antibiotic for no charge. I just wouldn't trust my government care as I grow old or if I had a serious issue.
Obamacare has nothing to do with the fact that his premium is $1500 a month for his family. I have an Obamacare plan with a good deductible and decent low co-pays for my wife and I cost $310 a month and I’m in Florida. My new employer who offers insurance has a similar plan that’s gonna run me $1100 a month. And that’s through united health care
Wow, both Dave and the caller have no idea what an HSA is. Can someone at the Ramsey show please educate him on what an HSA is, and how great it actually is? It seems like they think an HSA is the actual insurance plan. No, they're completely separate things. An HSA is an investment vehicle for your money similar to a Roth IRA or 401k. To be eligible to contribute to an HSA account, you have to have an eligible insurance plan, which means a deductible greater than $1400, and max out of pocket costs of $7000. An HSA has TRIPLE TAX BENEFITS. It is the most tax beneficial investment account you can have! And you can hold onto it for life! This is the second Dave video I've seen where I get the feeling he doesn't fully understand or appreciate how great they are. He should be advising everyone to do it if they can, right alongside their regular retirement savings.
I’ll tell you why the HSA is more. Look at the copayment. I’ll bet you the cheaper one than the HSA plan has coverage before the minimum deductible for an HSA kicks in.
Not a bad idea for the next few years but from 2025-roughly 2075 millennials will rule the roost politically. Expect an end to the gross, inefffcient largess of Private for profit health insurance
Gen Z? Bahaha no way. End it doesn’t really matter because millennial‘s are the single largest generation and their heyday for 50 years has barely just begun as the boomers‘ draws to a close.
@@Joseph565112 If you want universal as in government managed healthcare in America then you should expect to pay 3 times as much tax. That will mean young millennials will be expected to pay near a million more in taxes than their parents generation did.
Inflation and Publicly traded businesses like most Insurance companies are legally required to make a greater profits for share holders ever year. So they cut cost, deny coverage, and increases prices. Its not because they are inherently evil, its because they are a for profit, publicly traded model. They have no wiggle room. You can have health insurance and still get a bill in the $100,000 range. I know a woman who lost her husbad to cancer, had good health coverage and was stuck with over $250k in medical debt after he died. The insurance conpany refused to pay for his coverage through some kind of loop hole-if they can deny coverage its better for their share holders. Her and her small daughter had to endure the untimely death of their loved one and then the crippling medical debt all in one blow. It happens all the time. People in this country can go broke and lose their homes paying medical bills. A friend of mine from Australia thinks we are absolutely nuts for NOT having a universal public option. Pretty much everyone there has it, as does the UK , Europe and Canada, Japan etc.. We are the only country in the non third world that doesnt have a universal public option and only has this private, for profit model, option. I got sick in Paris years ago. I visited a very nice doctors office, beautiful private office, he gave me a perscription for antibiotics and I asked how much it would cost. I didnt have insurance there, so I expected a few hundred out of pocket for the visit and medicine. He looked at me baffled, it would cost nothing. I then went to the drug store, same thing. Yes taxes are a little higher- But less than what you pay in a monthly premium. Our system is just so, so crazy.
I was on a HSA with my with my old company we had Humana. The HSA was cheap and the way to go, then company sold now we have blue cross blue shield and HSA is 10 bucks cheaper then PPO but they offered the HMO which is drastically cheaper so now I'm on that plan.
I don't think you understand what an HSA is. It's not an insurance policy, It's a tax sheltered investment account that can be used for medical expenses, among other things.
I'm not understanding why the caller and then Dave got hung up on the actual insurance piece. Two separate entities. Dave barely touched on the advantages and strategies of an HSA. An HSA is the best saving /investment vehicle available to the average taxpayer. Better than their 401K or a Roth ira. You never pay tax on it. In my opinion the least understood and under utilized of all saving options available to many individuals.
You have to be like a government employee or on some welfare insurance like Husky, to have anywhere near a $1K deductible. That was a long time ago. Now it's common to see $6K+ for plans. Of course that guy should have put money in the HSA. I don't think Dave understood this question.
Can you, please, show us a national program that actually reduces medical costs, does not cost more than budged, and gives the population quick access to medical care and diagnosis???
@@gretabenedetti4142 US health insurance is still far cheaper than paying European 60% taxes. Many countries in Europe have a tax rate of in excess of 40% for $50,000 per year earnings. I am just curious would you prefer to pay $600 a month healthy insurance of $1,000,000 extra in taxes through our life?
FIdelity has zero-fee HSA. it offers WAY better fund options than the HSA through your health insurance company HDHP plan. you can have multiple HSAs just can't exceed IRS limits
my friend has the same situation. $44 monthly premium w/ $7900 deductible but not eligible for HSA OR $72 monthly premium w/$4000 deductible BUT eligible for HSA. Which one?
Look at copays as well. Do they have extra money after paying all bills and contributions to 401k and maxing out roth ira? Then the hsa may be good. They also need to have an emergency fund that can cover the deductible if its needed.
@@Sexy40baby1 Thanks. Looks like no copays after deductible w/$44 and $30 copay after deductible w $72 plan. I'm thinking he should go with the $44 plan and just save for the Extra deductible esp since this person doesn't have any current health issues.
@@Sexy40baby1 righto. No copays w the $44 plan. Only $30 w thr $72 plan. Even tho he could afford the $30, I still think the $44 plan sounds better considering hes in good health.
@@sunsetatshabooms4558 then get the 44 plan and save the price difference. He could use that money for other items that pop up like vehicle repairs or invest it.
The world of health care has changed and there is no budgeting for it as $8,000 +80/20 split to $12,000 per family member is common. As the US continues leading the world in costs and average quality changes will have to be made. And HSA's are now checking accounts that are constantly at zero and there is a widening health care gap as one person every minute goes bankrupt from health care costs-again with little to no difference in qualty from other modern (socialized) systems.. . And try to get an appointment that isn't 2-10 weeks out. Good luck. . Other modern nations have health care solved, not perfect, but much better. The US is light years behind in both cost and quality (and access). America can (and will be forced) do better.
LoveToKiller For me. Two savings accounts. Two brokerage accounts. 401k. Two Roth IRAs Zero debt. Passive income. Never needed health savings account. Emergency fund,savings,and Roth takes care of things.
Paid off today for sure - hubby had to go to urgent care and it was $200 for the visit, including the doctoring - but the money was already in my HSA so I didn't have to use my checking account. :)
I dislike this advice and it seems to go against viewpoints expressed elsewhere on the Ramsey Network. I'll explain and correct me if I am wrong. This caller has no debt, makes enough money to put them in the highest tax bracket, they are contributing to retirement accounts already, so it seems they could contribute more to HSA. It is said that the HSA contributions, being tax-deductible and when maxed with family contribution, would reduce this families' taxes by 2.1k and the new plan would cost 63$ per month or 756$. This decision would increase cash flow by 1,344$ annually, reduce the deductible and maximum out of pocket expense, create a stellar rainy-day fund for medical expenses that provides massive tax advantages. HSA accounts are similar to Tax-sheltered retirement accounts. They are tax-sheltered, and contributions are pre-tax, however HSA money can be spent on qualified healthcare expense and the money will NEVER be taxed. Before retirement age (65) there are penalties if HSA money gets spent on non-medical. Once one turns 65 there is no penalty just tax on non-medical expenses (Disclaimer: Read and understand full HSA rules, and other retirement account rules before contributing). I see limited downside of starting and minorly funding an HSA to be ready for medical expenses and if in the step 3-4 range max that puppy out. Keep in mind if the bill for a medical expense happens before the HSA is open that expense is NOT qualified. Once the HSA is opened and as long as contributions can still be made, a medical event can occur and then a contribution for that event can be made... Plan for life accordingly. I will digress.
Its actually some of the best and most advanced in the world...not going to be cheap. If you want cheap go to SE asia or Mexico...but you get what you pay for.
@@markg999 There are plenty of other countries that are just as advance or even more as in the United States, you don't need to pay outrageous prices for great health care. Most people don't choose to get sick why should they have to sale their house or go into debt to afford medical insurance or medical debt.
@Mr. Wick I'm dual citizen, family's been a little bit before World War One, I'm one of yall. No one is saying that the American Healthcare is inferior, we have great quality, but the country's approach to affordability and access to all is terrible. Our vets even have a difficult time, I've worked for the VA located in D.C, the bottle neck backlog problem is terrible and ineffective. Many wait for months and when they are seen finally their condition has worsened and developed. If you have great healthcare, then be happy and grateful. If you see others struggling, then go contact your state representative and give ideas for a new approach.
+Caleb Shares My health insurance has doubled for my family and there are boasting about how other people get benefits at my expense. You should be ashamed of yourself.
Since Dave loves to get political on his show, I will get political. Since the Democrats and Obamacare is soooooooo awful and the majority of Republican supporters are in the south, which also happens to be the poorest and most uninsured area in America, you would think Republicans would be all over finding a solution that benefits poor people the most. So what is it, Republicans, let me hear your solution that will give health care to all.
@@dexterm1285 You didn't offer a solution. I'm not surprised. Your solution is 10% are uninsured. So I guess thoughts and prayers is the solution then, right? It's republicans solution to everything else. To address what you stated....1 out of every 10 Americans being uninsured isn't concerning to you? (The rate of uninsured is much higher in Republican country just fyi)
@@chartuck Maybe some dont want insurance has that idea crossed your mind. Some hate the health industry that's usually all about drugging people. If your poor you get access to medicaid so that's not the issue so it must be something else. Actually some reports 8.8%...and those with no insurance still get emergency care. Your either homeless person on street or a freaking idiot if you cant get some health insurance in this country.
Rand Paul said the exact same thing, and he's a Republican, potentially running for President. He's appalled by the lack of solutions on the Repub side.
@@crestinglight Well the question to ask is who is uninsured? Cause if poor why aren't they on Medicaid. If old they have medicare. I'm not sure who isnt caught with those two big nets.
@@ashleym6765 Can you please explain how doubling my families health insurance is a saving? I eagerly await your response. If you can justify the affordable healthcare act as a whole maybe I can see your benefit.
Funny how people forget that school, firefighters, and police are socialist programs. Too bad we don't have the same mentality about healthcare as we do people's rights to safety and being able to read!
@@UNCtarheels71 lol ok. Couldn't tell if he was trolling or not because the guy above says there are ways around of extracting money out of your HSA that don't involve medical costs
@@bighands69 if you have medical expenses, you should do an HSA... and since the HSA doesn't expire, EVERYONE will have medical expenses at one point in their lives
10 years before I retired, I maxed out my HSA contributions and then I took 2/3'rds of the account and put it in an ETF so the money can grow. The savings account has been wonderful for paying my yearly medical bills. I have not had to replenish it from the ETF money yet. I'm so glad I have an HSA. The money is there when I need it.
This entire conversation went right over my head... I need to get educated on insurance policies!
It’s sad in America when a family of 5 has to pay $1500/month for basic health insurance. Add in mortgage, bills, food and you’re tapped out. Our parents generation never had these expenses.
Serby our parents generation also had much less options when they got sick. Then again, why are so many Americans getting sick?
@@samreagan6292 mcdonalds. Vaping. Smoking. Not exercising. Driving more. Etc
The problem is over regulation. You have no idea the increadible ammount of regulation the health sector has. There is also an abundant redundancy of personal. I was a Dr in Costa Rica and 1 nurse could do what 3 nurses do here in the US.
I don't use my health insurance because the deductible and out of pocket expenses are so high. Whenever I must see a doctor I call around asking for cash prices and they ask why I don't have health insurance. Once I'm done negotiating cash prices, its still cheaper to not use my health insurance and pay cash. Its silly how expensive health insurance is.
Serby they also didn’t have around 20-30 years inflation and they had crappier healthcare. Not saying 1500 is affordable but he also had private, not government insurance..
HSA are a great retirement vehicle. You contribute tax-free (this is the tax savings he was referring to), it grows tax-free, and you can use it tax-free for qualified expenses. Once you reach retirement age, you're able to withdraw for anything and not pay penalty, only income tax. I'm surprised a financial advisor would advise against them.
Watch the fees though. Read the fine print. Health Equity charges 0.36% a year !!
@@rajvo7406fidelity is No fee
$1400 a month and still has a $6500 deductible yikes 😳
Chad Iyoob I pay $600 a month just for me and yes, the deductible is $6,000 with a 2% co-insurance. Obamacare is a raw deal!
Thanks Obama!
Big family maybe?
I pay 550 for a month myself with 3k deductible and i have to ask permission for everything SMFH
@@teebone2157 I pay with my taxes, i paid for 10 days in the hospital 100€, i had also a surgery, broke my nose. My parents are retired and nobody here in Austria, nobody has to ask for permission for anything, there are no deductibles. You only have to pay 10€ for a day in the hospital, that is it. And when you even have that money, the government will help you out.
I have HSA. I love it. $120 per month in premiums with $1700 deductible. I don’t really ever go to the doctor so I just max it out and invest the funds.
I switched from a ppo to a HDHP with an hsa. Saved so much on healthcare.
Do you have a ppl or hmo plan?
What health insurance is that?
@@Edwincatholit HDHP - High Deductible Heath Plan
Horrible advice wow. HSAs are triple tax advantaged and you can invest the money and use it for retirement. This would have been a great opportunity for Dave to educate people about the great benefits of an HSA and instead he said don't bother with it. Really disappointing.
I was hoping he'd mention this, and I wish more companies offer them. Both my and my wife's companies do not 😭😭
Why would you invest the money for retirement...that should be separate savings. Likely at some point this will go toward health needs.
If you need to use it for health expenses that's fine but after age 65 you can use it for anything tax free. If you have an account to save tax free going in, tax free growth and tax free going out why wouldn't you take advantage of that for long term savings?
@@coco88357 Find it hard to beleive that none of it is taxed. That loophole will be closed but good info
@@dexterm1285 None of it is taxed but the max amount you can deposit per year is low, $3.5k compared to 401k or IRA's. It's supposed to be for healthcare so it's in a nice tax-shielded bubble that other retirement accounts aren't in.
Look up videos for HSA investment accounts and you'll be a fan too.
I'm surprised at Dave on this one. An HSA is QUADRUPLE tax free! Tax free contributions, tax free growth, tax free withdrawal, AND Medicare and social security tax free!
After emergency fund max that sucker out!!!
Couldn't agree more. I think Dave was out of it on this call. Never a good move to ignore an HSA option.
@@richard1113
How is it a good option. He is going to need to take a proportion of his income and put it into an account that he can use for health care and then pay the insurance company extra for the privilege and they will then to the funds that are in there and invest them and get a good 8% return.
Would it not be better just to have 7000 sitting spare that you can then invest at 8%. After 10 years that 7000 will be about $15,000.
If he pays the extra $60 a month that will be about $7000 in 10 years time (not factoring inflation).
That savings you refer to in taxation will only apply on the amount paid to the account which will have a limit.
@@bighands69 I can tell you've never had an HSA, have you? As a matter of fact, some HSA accounts, including mine allow you to invest your money, not merely have the cash sitting around. It's really no different from an 401k or IRA in this regard other than it is for healthcare. But even better is that HSAs are triple tax advantaged. The money goes in untaxed, your money grows untaxed, and it is withdrawn untaxed. That's why it's a great... not just a good option. Check it out! :)
@@richard1113
Let us get this straight you think a healthcare saving account that you can use like a 401K is a good thing?
Also you can issue claims against your HSA for 5 years. Meaning you can pay for costs right now out of pocket and then claim the expenses 5 years later, while that $ grew like a 401k! Max contribution is 7k per year per household and will always roll over. It's simply a no-brainer.
Student Debt Crisis, Housing Crisis, Expensive Healthcare plans etc... All disasters because the Federal Government got involved 🤦
Katrina Umana EXACTLY! Too bad most people aren't as smart as you. Most people want more government involvement.
Rand Paul 2020
Katrina Umana No it is because the federal government is owned by corporate America and the money that should go to healthcare is skimmed off by greedy insurance companies. Ever noticed how none of them go broke?
Katrina Umana
Debt crisis- I worked through school,got a marketable career,and a student loan I could afford doing the math.
Remained focused, no marriage and NO KIDS.
Then the ANG/Air Force paid the rest. Then $160k/yr career in aerospace.
Housing crisis- I bought a home I could afford and paid it off in 9 years. Also paid $240k cash on a $650k short sale condo on Marco Island as second home during the Great Recession/housing crisis.
Expensive healthcare plans- I'm retiring years before I qualify for Medicare next year and will be paying zero to $150/mo. premiums for healthcare instead of $1200-$1400 a month.
No issues.
For profit health care plus for profit health insurance for coverage is your culprit. Both British NHS and South Korea’s single payer, while different, Provided me with better coverage for less money because they actually got it right. America is like number 37 on the list
Do the HSA and invest the money. I was a fool and let the money sit in a HSA savings account for six years during the stock market boom from 2010-2016. I still got alot of HSA money, but I regret not investing it sooner.
cutehumor
Never cared for HSA but many do this at work.
I prefer to just contribute to my Roth 401K,Roth IRA,emergency fund,invest,save.
I will pay my deductible,copay,or whatever with through other sources.
And no I'm not missing out with a 1.6 million megaRoth IRA.
BlackWorldTraveler missing out
In time, there was always be 20%+ stock market drops. Next time hit the market when it is down with that HSA cash.
+cutehumor
If there is a stock market crash and there are big holes in the state of federal programs that HSA will get raid by stealth taxes.
Some people have the most terrible advice.
@@bighands69 Congress can't pass anything. HSA will be here to stay for awhile. Gridlock is good!
Do not save what is left after spending;
instead spend what is left *after saving!*
Love that Buffet quote!!
sv650Sftw no I would invest. It’s just meant that you shouldn’t spend first and after have nothing to invest.
I wish I could just send dave my open enrollment package to figure out which one saves me money.
Being a multi millionaire these concerns are not 'real' to Dave. Those concerns fade as wealth increases.
.
When listening to his show (I agree with most) I get the feeling the shtick is showing it's age.
Here I am, in the same situation and googling around for some type of insurance broker to pick my insurance for me !
@@stormysmurf I just went with the high deductible plan every year since then and max out my hsa. I have really high medical needs but I still have about 1k left in my hsa every year, so it's been worth it.
@@feliciafelicia6965 Thank you! My smarter friends leaning towards the HSA- great to hear it worked out in real life. Thanks again
I pay $12 a week with a $8,700 family deductible (half that per person till met) with the HSA option. I max mine out every year. Medical bills are expensive enough why pay taxes if you don't have to.
I’ve never heard of someone having a $1,000 deductible and I worked in the healthcare field for 8 years. Usually it’s $2-4k
I agree not sure about 1k deductible as well
I have a $1k deductible with max $4.5k out of pocket. This is on my employer’s most expensive plan, but due to my tenure they pay 50% of the plan, so I pay around $400/month for myself and children. No HSA option, so I have a Home&Health sinking fund.
Me too...never lol
my mom has a 1k deductible.
Ashley - omgitsyelhsa
My deductible is $400/yr and $1550 out of network.
If you aren't self employed there are some companies that will put money in a HSA for you.
We put almost all of our health expenses through ours and we don't have to take money from the rest of our budget to take care of ourselves.
Dave, I searched most of your videos and I cannot find anything containing your thoughts on fitness and nutrition. Typically, these are directly tied to one's financial situation, particularly later in life. Understanding there are everyday risks on life, one can also significantly sacrifice his/her health while attempting to achieve your guidelines. I hope you will comment on this soon, or perhaps, lead me to a video/publication where your thoughts have already been recorded. Thank you, sir.
Obviously. Why do you need Dave to hold your hand about everything
MAX out your HSA each year. then pay for your health expenses out of pocket. treat the HSA like a retirement account. by retirement age, you can use it like a normal 401K. it's the only triple tax advantaged account out there
At age 65 you can use it for anything tax free.
Ivan, save your receipts and whenever you need cash to survive get those reimbursements.
+Medic311
You are only saying that now about HSA but in 20 years time when it is needed it may not be there. It could be taxed to high heaven.
If you had $7000 invested at 8% it would be $32,000. Tax deductions are not going to beat that.
@@bighands69 flawed logic. you keep adding to your HSA like a retirement account so it keeps growing and compounding. if you are worried about medical emergency outside of your emergency fund, you can set aside 1 yrs worth of out of pocket max into a money market fund option within HSA and invest the rest. but really you don't want to touch HSA at all. if you are worried about future taxes in retirement, then you can hedge your bets and max out Roth. the government has provided many tax-advantaged avenues out there, it's up to you take advantage of them (no pun intended). the key to doing well financially today? follow ramsey's debt strategy, outright own multiple rental properties, max out every tax-advantaged opportunity you can. you will retire like no one else so you can live like no one else
@@jgg204 sounds hunky dory but you first need to have income without a ton of kids. Also, if you are a sickly person that HSA will run dry quickly.
HSA is just a great discount on expenses you would have had anyways!
This guy hasn't a clue.
1400 a month for healthcare is ridiculous. Also alot of ailments like diabetes, high blood pressure, high cholesterol and more can be prevented . By eating a good diet. So eating healthy will in turn stop you from getting diseases . Eat healthy .
scaldon2 how much is health incurance in USA, for example for person of 40. Thx
AnaA
All depends on your taxable income each year.
I’m retiring early and will be paying zero to $150 a month.
True, lifestyle is a big part but all those ailments you listed can have heredity have a big say on how well your body does over time. Even Jim Fixx died of a heart attack.
high blood pressure and cholesteral are usually side effects of much bigger issues. I developed thyroid disease and my levels are through the roof regardless of what i eat because horomones regulate everything.
George McGovern
Not talking about heredity.
We pay $1479 per month for a family of 3 and the deductible is $12,000. I WISH we had a lower deductible, but it's just not available.
Dave, WHO in this country has only a $1,000 deductible on a $1,400/month premium for a family of 4 or 5?! I’m in the same boat as this caller...only way to get that cheap of a deductible is to pay quadruple what we pay now in premiums.
Exactly! I don't know where he is finding $1000 deductible, not in my world! $6500+ easily and $14,000 if HSA.
This poor guy doesn't understand how an HSA works. It is not a replacement for insurance. It goes hand in hand with a High Deductible Insurance Plan. It only "costs" you what you put in it. It allows you to pay your medical expenses pretax and allows you to invest within the plan.
Most people do not have a $1000 deductible anymore, especially in FL. Our insurance is insanity. What he’s describing is more like what people have now.
It really depends on who has the insurance and how much they earn.
You live in FL. Retired old state. Insurance co want their money
Watch out for Health Equity's investment fees. Even my employer sponsored plan incurred a 0.03% MONTHLY fee. That is 0.36% a year!!! Read the fine print
Wow. The guy brings in $250k a year and he's got problems?
Unfortunately this seems like a common problem
+ReallyLoudMusic
You are only saying this because you do not understand financial growth or liabilities.
250k a year is good money but $1400 a month and needing $6500 before insurance even matters is sizable.
You could literally have an brand new Porsche or other 100k car outside your house.
Yup.. Welcome to America
Just use the HSA to invest!
It’s a great way to boost your savings over the long term 👍
Agreed! Though it can only be used for health expenses right?
chemper yeah but there are some hacks to actually keep the money for yourself and take advantage of the gains!
@@pkal244 once you reach retirement age, it acts like a 401K for non medical expenses (you pay income tax on withdrawals). for medical expenses it's still tax free
@PoopCoin Patrick This isn't a prepper forum
@@jgg204 thanks for clarifying
You can thank the government for these ridiculous prices.....
@Sir We Are About to Die
It is not the insurance companies that voted on these issues nor made the current system.
@Sir We Are About to Die The US government pays more per person than any other country for health care and they get it for free. We need to eliminate private health incurrence and only have a public option.
@@BigNameJamesStuff The two best options is to let Insurance companies compete across state lines or pass single payer. What we have now is criminal.
@@samuelbekele3601 100% agree with those 2 ideas. Single-payer would be a great first step to fixing this crazy issue.
No, thank the insurance companies.
why would the higher deductible plan be more expensive than the lower deductible plan. the plans that offer HSA's usually cost alot less than the non-HSA plans.???
My job puts 750 bucks into ours a year if we invest at least 20 bucks a month. Great benefit, even without the match.
Someone reading these comments please google “MadFientist HSA” and actually learn how these accounts work...
In order to qualify for the hsa plan with Cigna I had to get the 2000 dollar deductible...and I never spend that much so I never actually get to use my copay or coinsurance. Next year for the same plan my insurance will double.
I found my hsa to be useless, i couldnt use the money for anything other than perscriptions and then couldn't have the money after the end of the year.
I understand that the HSA premium as well as any money put into the savings account are both tax deductible as long as the the savings are used for eligible medical expenses. Correct? With the HMA (Health MATCHING Account), how are the premiums and the matching dollars taxable?
As a Brit, I feel sorry for you Americans and your healthcare system, it’s horrific.
What's horrific is that the average wait time from cancer diagnosis to first treatment is over twice in the UK what it is in the US. Free healthcare isn't much good if you're dead
Steve E can’t argue with that.
+Jack Morris
You are only saying that because you do not actually understand the financial difference between the two countries.
You are willing to pay higher taxes which in the long term will cost you far more money than the US health insurance system. Florida has some of the best healthcare centres in the world. He for his insurance can get access to the likes of Harley street in London (only the rich do in the UK).
My husband's grandmother gave up hoping for a knee surgery after being on the waiting list for 4 years. Her remaining years were in a wheelchair.
Also, his step mother spent her life as a caregiver for the elderly that involved lifting and bending and she had to quit and was in horrible pain. It took her nearly a year to see a specialist, 6 months to get her surgery and after the surgery was sent home with pain pills, no physical therapy or any type of after care. There may be other countries doing it better, but I haven't been impressed with my husband's former home country, even if it was nice that I was able to go to a clinic in a mall to take care of something minor and get an antibiotic for no charge. I just wouldn't trust my government care as I grow old or if I had a serious issue.
Obamacare has nothing to do with the fact that his premium is $1500 a month for his family. I have an Obamacare plan with a good deductible and decent low co-pays for my wife and I cost $310 a month and I’m in Florida. My new employer who offers insurance has a similar plan that’s gonna run me $1100 a month. And that’s through united health care
Obama care was the worst thing that happened to tax payers
He has said multiple times that for first time homebuyers as low as 5% is acceptable
$6500? jesus christ....
Wow, both Dave and the caller have no idea what an HSA is. Can someone at the Ramsey show please educate him on what an HSA is, and how great it actually is? It seems like they think an HSA is the actual insurance plan. No, they're completely separate things. An HSA is an investment vehicle for your money similar to a Roth IRA or 401k. To be eligible to contribute to an HSA account, you have to have an eligible insurance plan, which means a deductible greater than $1400, and max out of pocket costs of $7000. An HSA has TRIPLE TAX BENEFITS. It is the most tax beneficial investment account you can have! And you can hold onto it for life! This is the second Dave video I've seen where I get the feeling he doesn't fully understand or appreciate how great they are. He should be advising everyone to do it if they can, right alongside their regular retirement savings.
Yes, I could not finish watching the video. Neither seems to have a clue. Dave followed the dude down a rabbit hole.
That's probably the worst advice I have ever heard Dave give.
I’ll tell you why the HSA is more. Look at the copayment. I’ll bet you the cheaper one than the HSA plan has coverage before the minimum deductible for an HSA kicks in.
Not a bad idea for the next few years but from 2025-roughly 2075 millennials will rule the roost politically. Expect an end to the gross, inefffcient largess of Private for profit health insurance
Gen Z? Bahaha no way. End it doesn’t really matter because millennial‘s are the single largest generation and their heyday for 50 years has barely just begun as the boomers‘ draws to a close.
@@Joseph565112
If you want universal as in government managed healthcare in America then you should expect to pay 3 times as much tax.
That will mean young millennials will be expected to pay near a million more in taxes than their parents generation did.
Paying for my braces with my health savings account🙌🏻
Look at you... I'm so proud of you Beautiful 😊👏👏👏
@@urwifesmacho777 bruh that's creepy
Hannah Sharitz Me too!
Smart move!
@@dantu5377 oh I forgot there's snowflakes that get triggered and don't know what bathroom to use... Sorry man
I hear to save 15% of your income towards retirement. If I contribute to HSA. Does that amount also count towards the 15%
Inflation and Publicly traded businesses like most Insurance companies are legally required to make a greater profits for share holders ever year. So they cut cost, deny coverage, and increases prices. Its not because they are inherently evil, its because they are a for profit, publicly traded model. They have no wiggle room.
You can have health insurance and still get a bill in the $100,000 range. I know a woman who lost her husbad to cancer, had good health coverage and was stuck with over $250k in medical debt after he died. The insurance conpany refused to pay for his coverage through some kind of loop hole-if they can deny coverage its better for their share holders. Her and her small daughter had to endure the untimely death of their loved one and then the crippling medical debt all in one blow.
It happens all the time. People in this country can go broke and lose their homes paying medical bills.
A friend of mine from Australia thinks we are absolutely nuts for NOT having a universal public option. Pretty much everyone there has it, as does the UK , Europe and Canada, Japan etc.. We are the only country in the non third world that doesnt have a universal public option and only has this private, for profit model, option.
I got sick in Paris years ago. I visited a very nice doctors office, beautiful private office, he gave me a perscription for antibiotics and I asked how much it would cost. I didnt have insurance there, so I expected a few hundred out of pocket for the visit and medicine. He looked at me baffled, it would cost nothing. I then went to the drug store, same thing. Yes taxes are a little higher- But less than what you pay in a monthly premium. Our system is just so, so crazy.
I was on a HSA with my with my old company we had Humana. The HSA was cheap and the way to go, then company sold now we have blue cross blue shield and HSA is 10 bucks cheaper then PPO but they offered the HMO which is drastically cheaper so now I'm on that plan.
He is self employed and not an employee.
I don't think you understand what an HSA is. It's not an insurance policy, It's a tax sheltered investment account that can be used for medical expenses, among other things.
I'm not understanding why the caller and then Dave got hung up on the actual insurance piece. Two separate entities. Dave barely touched on the advantages and strategies of an HSA. An HSA is the best saving /investment vehicle available to the average taxpayer. Better than their 401K or a Roth ira. You never pay tax on it.
In my opinion the least understood and under utilized of all saving options available to many individuals.
Thank you Obamacare.
..and an anti-American DemonRat Congress.
Hopefully no Bidencare!
That's no good deal, he might need a regular job and their insurance.
You have to be like a government employee or on some welfare insurance like Husky, to have anywhere near a $1K deductible. That was a long time ago. Now it's common to see $6K+ for plans. Of course that guy should have put money in the HSA. I don't think Dave understood this question.
Mine is $1500 deductible and I’m on a HSA. I also only pay $8/month for health insurance
Those numbers the caller was giving out did not make any sense.
He was calling off the top of his head and pay have made mistakes.
When you pay off a credit card that’s in collections will it higher your credit score ?
Most likely! Making payments on time helps. Biggest factor is how much you owe vs your credit limit
It is truly absurd that in 2019 a country as big as America does not provide free (or at least affordable) healthcare. Unbelievable!
90% have healthcare. The other 10% lazy and likely could get medicaid if poor.
@@dexterm1285 But you have to pay an health insurance to get Healthcare, right? And I don't think it is cheap!
@@gretabenedetti4142 Yea of course but we get taxed less. If your poor and old you get insurance.
Can you, please, show us a national program that actually reduces medical costs, does not cost more than budged, and gives the population quick access to medical care and diagnosis???
@@gretabenedetti4142
US health insurance is still far cheaper than paying European 60% taxes. Many countries in Europe have a tax rate of in excess of 40% for $50,000 per year earnings.
I am just curious would you prefer to pay $600 a month healthy insurance of $1,000,000 extra in taxes through our life?
FIdelity has zero-fee HSA. it offers WAY better fund options than the HSA through your health insurance company HDHP plan. you can have multiple HSAs just can't exceed IRS limits
HSA, with investment is superior to 401K.
my friend has the same situation. $44 monthly premium w/ $7900 deductible but not eligible for HSA OR $72 monthly premium w/$4000 deductible BUT eligible for HSA. Which one?
Look at copays as well. Do they have extra money after paying all bills and contributions to 401k and maxing out roth ira? Then the hsa may be good. They also need to have an emergency fund that can cover the deductible if its needed.
@@Sexy40baby1 Thanks. Looks like no copays after deductible w/$44 and $30 copay after deductible w $72 plan. I'm thinking he should go with the $44 plan and just save for the Extra deductible esp since this person doesn't have any current health issues.
@@sunsetatshabooms4558 I'm speaking of the copay when going to doctor or specialist. Just make sure he can pay that when he does go.
@@Sexy40baby1 righto. No copays w the $44 plan. Only $30 w thr $72 plan. Even tho he could afford the $30, I still think the $44 plan sounds better considering hes in good health.
@@sunsetatshabooms4558 then get the 44 plan and save the price difference. He could use that money for other items that pop up like vehicle repairs or invest it.
My deductible is 2400 with hsa
He is self employed and not part of a employee group buy.
The world of health care has changed and there is no budgeting for it as $8,000 +80/20 split to $12,000 per family member is common. As the US continues leading the world in costs and average quality changes will have to be made.
And HSA's are now checking accounts that are constantly at zero and there is a widening health care gap as one person every minute goes bankrupt from health care costs-again with little to no difference in qualty from other modern (socialized) systems..
.
And try to get an appointment that isn't 2-10 weeks out. Good luck.
.
Other modern nations have health care solved, not perfect, but much better. The US is light years behind in both cost and quality (and access). America can (and will be forced) do better.
If you’re me, then yes. But if you’re you, then...I don’t know. Good luck 🍀
I’m confused, doesn’t his current plan allow him anyways to contribute to a HSA, or am I missing something?
A lot of health plans only allow hsa with enrollment in a high deductible plan. If you go with the cheapest plan you'll only be able to get payflex.
I think you need to brush up on your understanding of HSAs.
1.) Saving account
2.) Health savings account
3.) Emergency fund account
These are important and essential.
LoveToKiller
For me.
Two savings accounts.
Two brokerage accounts.
401k.
Two Roth IRAs
Zero debt.
Passive income.
Never needed health savings account.
Emergency fund,savings,and Roth takes care of things.
It really is not a healthcare savings account that the guy in the video is talking about.
BlackWorldTraveler whats a brokerage acc
BlackWorldTraveler and why 2 Roth IRA
Paid off today for sure - hubby had to go to urgent care and it was $200 for the visit, including the doctoring - but the money was already in my HSA so I didn't have to use my checking account. :)
Bernie Sanders just left the chat room.
if he had bernies plan he wouldnt be paying 1500 a month lol more like 400
I dislike this advice and it seems to go against viewpoints expressed elsewhere on the Ramsey Network. I'll explain and correct me if I am wrong. This caller has no debt, makes enough money to put them in the highest tax bracket, they are contributing to retirement accounts already, so it seems they could contribute more to HSA. It is said that the HSA contributions, being tax-deductible and when maxed with family contribution, would reduce this families' taxes by 2.1k and the new plan would cost 63$ per month or 756$. This decision would increase cash flow by 1,344$ annually, reduce the deductible and maximum out of pocket expense, create a stellar rainy-day fund for medical expenses that provides massive tax advantages. HSA accounts are similar to Tax-sheltered retirement accounts. They are tax-sheltered, and contributions are pre-tax, however HSA money can be spent on qualified healthcare expense and the money will NEVER be taxed. Before retirement age (65) there are penalties if HSA money gets spent on non-medical. Once one turns 65 there is no penalty just tax on non-medical expenses (Disclaimer: Read and understand full HSA rules, and other retirement account rules before contributing). I see limited downside of starting and minorly funding an HSA to be ready for medical expenses and if in the step 3-4 range max that puppy out. Keep in mind if the bill for a medical expense happens before the HSA is open that expense is NOT qualified. Once the HSA is opened and as long as contributions can still be made, a medical event can occur and then a contribution for that event can be made... Plan for life accordingly. I will digress.
Obamacare pisses me off!
Why is that?
KillerB86 health care was a whole lot cheaper when it was optional.
If anyone is stuck with huge premiums on the marketplace, is healthy, and wants to save on premium… I have some plans to go over with you.
something's not right here. i don't think this dude has any idea about what his health care plan is
agreed!
1400!!! A month!!!! Omg
2:15 Thanks Obama!
Dave Ramsey was high, no other way to explain this horrible advice.
Americans and their healthcare, what a joke
The health care is good overall. The for profit, private health insurance is disgusting and should be illegal.
Its actually some of the best and most advanced in the world...not going to be cheap. If you want cheap go to SE asia or Mexico...but you get what you pay for.
@@markg999 There are plenty of other countries that are just as advance or even more as in the United States, you don't need to pay outrageous prices for great health care. Most people don't choose to get sick why should they have to sale their house or go into debt to afford medical insurance or medical debt.
@Mr. Wick I'm dual citizen, family's been a little bit before World War One, I'm one of yall. No one is saying that the American Healthcare is inferior, we have great quality, but the country's approach to affordability and access to all is terrible. Our vets even have a difficult time, I've worked for the VA located in D.C, the bottle neck backlog problem is terrible and ineffective. Many wait for months and when they are seen finally their condition has worsened and developed. If you have great healthcare, then be happy and grateful. If you see others struggling, then go contact your state representative and give ideas for a new approach.
+Benjamin Castro
Your statement makes no sense unless you are telling us were you are comparing US healthcare to. Can you give us such a country.
Yes thank you adorable care act. Insurance companies now can’t exclude people for pre existing conditions.
+Caleb Shares
My health insurance has doubled for my family and there are boasting about how other people get benefits at my expense.
You should be ashamed of yourself.
Since Dave loves to get political on his show, I will get political.
Since the Democrats and Obamacare is soooooooo awful and the majority of Republican supporters are in the south, which also happens to be the poorest and most uninsured area in America, you would think Republicans would be all over finding a solution that benefits poor people the most. So what is it, Republicans, let me hear your solution that will give health care to all.
Well to start few are uninsured less than 10%...most have health insurance thru work or on medicare or medicaid for poor.
@@dexterm1285 You didn't offer a solution. I'm not surprised. Your solution is 10% are uninsured. So I guess thoughts and prayers is the solution then, right? It's republicans solution to everything else. To address what you stated....1 out of every 10 Americans being uninsured isn't concerning to you? (The rate of uninsured is much higher in Republican country just fyi)
@@chartuck Maybe some dont want insurance has that idea crossed your mind. Some hate the health industry that's usually all about drugging people. If your poor you get access to medicaid so that's not the issue so it must be something else. Actually some reports 8.8%...and those with no insurance still get emergency care. Your either homeless person on street or a freaking idiot if you cant get some health insurance in this country.
Rand Paul said the exact same thing, and he's a Republican, potentially running for President. He's appalled by the lack of solutions on the Repub side.
@@crestinglight Well the question to ask is who is uninsured? Cause if poor why aren't they on Medicaid. If old they have medicare. I'm not sure who isnt caught with those two big nets.
Like the Republicans had any ideas lol Obamacare saved millions. Not me because I have my own and can handle me and my son.
Ashley McLeod it also scrued a lot of people over
@@yayyareaa2997 what's scrued?
@@ashleym6765
Can you please explain how doubling my families health insurance is a saving? I eagerly await your response.
If you can justify the affordable healthcare act as a whole maybe I can see your benefit.
MEDICARE FOR ALL
Socialist trash.
Funny how people forget that school, firefighters, and police are socialist programs. Too bad we don't have the same mentality about healthcare as we do people's rights to safety and being able to read!
Lafamiliaburron funny how it cost 52 Trillion Dollars to cover that bill too
@@yayyareaa2997 our current system is gonna cost 52 trillion anyways lol. Only difference is we can cover every american by taking out the middle man.
Government funded health care doesn’t work properly in Canada and they have not NEARLY the population we have. It doesn’t work, plain and simple.
i bought a Playstation with my HSA acct.
How?
chemper This didn’t happen 😂. Unless he pulled a chunk of money out of the account and paid income tax and the penalty fees on that amount.
@@UNCtarheels71 lol ok. Couldn't tell if he was trolling or not because the guy above says there are ways around of extracting money out of your HSA that don't involve medical costs
Good luck if you are ever audited that’s fraud and you could face penalties.
First :). Dave, return my calls, lol. Seriously though, great advice, thanks for all you do!!!
Dave is wrong
In Dave, defense, the caller is giving out numbers that do not make any sense.
He is not wrong because many of you do don't actually understand compounded growth or liabilities.
@@bighands69 if you have medical expenses, you should do an HSA... and since the HSA doesn't expire, EVERYONE will have medical expenses at one point in their lives