Thanks a lot for all of the responses. I have figured it out and will address a couple of things I ran into.
Quote:
Originally Posted by Diplok
HDHP is not an investment. What does health insurance have to do with 401K and an IRA?
You have a lot of reading to do my friend.
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Completely wrong, misleading and dangerous information. The HSA is one of the best investment vehicles depending on the situation. In my case the priority goes:
1. Up to employer 401k match
2. Max out HSA
3. Max out Roth IRA
4. Max out 401k
The HSA offers a triple tax-free benefit. You cannot get that anywhere else and is only trumped by the "free" money of an employer match. The only issue is that a HDHP has to be right for you. You can simply google "HSA as an investments", "HSA vs 401k vs IRA" or "taxes on HSA investments" to learn more about the differences and benefits of an HSA.
http://www.ebri.org/pdf/FF.292.HSA-Tax.31July14.pdf
https://www.jpmorgan.com/tss/Blank/C.../1159325994007
https://www.betterment.com/resources...nd-retirement/
http://moneyover55.about.com/od/heal...ra-Or-401k.htm
Let me know if you need/want more information on the subject.
Quote:
Originally Posted by FlyinAgainstTheWind
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Correct, and FSA is an alternative to an HSA. In my case an HSA works better for me. Thanks for the link.
Quote:
Originally Posted by Iporras
Yes you can!! I work at a bank, wells Fargo offers them.
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Yes, I found this out as well. My provider is Discovery Benefits and they had a few loopholes for me to jump through before they opened the account.
Quote:
Originally Posted by D_IN_LI
I've had mine for almost a year now, and they recently switched companies and had no problem with either of them.
You can have/open one, if you're employer offers it.
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I have opened mine now as well. They just needed to ask me a few more questions and it took a little bit longer to process after I got them the information.
Quote:
Originally Posted by 2Face
Read through this URL.
http://www.irs.gov/publications/p969...link1000204025
Qualifying for an HSA
To be an eligible individual and qualify for an HSA, you must meet the following requirements.
You must be covered under a high deductible health plan (HDHP), described later, on the first day of the month.
You have no other health coverage except what is permitted under Other health coverage , later.
You are not enrolled in Medicare.
You cannot be claimed as a dependent on someone else's 2014 tax return. |
It is important to meet all of those requirements. However for DACA recipientsyou may to call an clarify a few things depending on the provider. It has to do with the Patriot Act, legal status and such.