According to Plan - HSA Savvy: Maximizing Your Health Savings Potential

In the latest episode of Amplified Wealth: According to Plan, Tom Farrell and Kate Fishbein tackle everything you need to know about Health Savings Accounts (HSAs) — from eligibility and benefits to long-term planning strategies.

Episode Highlights:

💡 HSA Basics: Understand who qualifies for an HSA and how high-deductible health plans (HDHPs) work.

📈 Triple Tax Benefits Explained: Discover how HSAs offer pre-tax contributions, tax-free growth, and tax-free withdrawals for qualified medical expenses.

🏥 Why HSAs Aren’t “Use It or Lose It”: Learn how funds roll over, grow tax-deferred, and even follow you if you change employers.

👨‍👩‍👧‍👦 Family Dynamics and HSAs: How to coordinate benefits and make the best decision for your family’s health needs.

📆 2025 Contribution Limits & Strategies: Maximize your contributions to build significant long-term savings for healthcare expenses.


And much more!

Timestamps:
(03:21) - What is an HSA?

(06:05) - Evaluating health plans during open enrollment

(08:32) - Restrictions: Medicare and FSAs

(15:57) - 2025 HSA contribution limits

(20:53) - Triple tax advantage

(29:27) - Planning opportunities

(36:39) - What qualifies as a medical expense?

(42:38) - Importance of keeping records

(43:57) - "Use as you go" vs. "Let it grow" strategies

(51:12) - HSA inheritance rules

(56:13) - HSAs as a long-term financial tool

(57:12) - Closing remarks

Nothing contained in this presentation should be construed as personalized advice, or solicitation to buy or sell any securities. Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. There can be no assurance that the future performance of any specific investment or non-investment related content in this Podcast will be profitable or suitable for your individual situation. Due to changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions. The opinions expressed in this podcast are those of the participants and may not reflect those of the firm. To the extent you have any questions regarding the applicability of anything discussed to your individual situation, you are encouraged to consult with the professional advisor of your choosing. The firm is neither a law firm, nor a certified public accounting firm, and no portion of this content should be construed as legal or accounting advice.