Personal Finance

3861 readers

16 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 2 years ago

MODERATORS

[email protected]

Matt Breunig on HSA ＆ FSA: The Welfare System Stole $2k From Me (www.youtube.com)

submitted 1 year ago* (last edited 1 year ago) by [email protected] to c/[email protected]

27 comments fedilink hide all child comments

These US healthcare systems are effectively scams. Yes in theory they can save you money, however in theory there is no difference between theory and practice, while in practice there is.

you are viewing a single comment's thread
view the rest of the comments

[–] IHawkMike 2 points 1 year ago (1 children)

The private financial company—which you don’t get to choose—gets its cut as well, in fees, some which are hidden.

Not disagreeing with anything, but people should know that even if you're locked into a crappy HSA provider through your employer, like BenefitWallet, you can and should still open an HSA with a good provider, like Fidelity, and max out and invest contributions there.

Just don't forget to save all the receipts for out-of-pocket health expenses.

[–] ccunning 2 points 1 year ago

You can also transfer your funds from you company’s shit provider to your own HSA account.