Join Early Retirement Today
Thread Tools Search this Thread Display Modes
I may lose my HSA
Old 02-08-2010, 04:17 AM   #1
Thinks s/he gets paid by the post
frayne's Avatar
Join Date: Oct 2002
Location: 19th Hole
Posts: 2,320
I may lose my HSA

Currently on retiree medical basic plan with a high deductable and started an HSA about three years ago. New changes are coming in the retiree medical plan and a high deductable option will go away. Question is, what to do with the HSA ? I realize the tax and penality ramifications. Just wonder if anyone else has run into a similar situation and what did you do.

Thanks in advance.

Normal is an illusion...what is normal for the spider is chaos for the fly.
frayne is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-08-2010, 04:39 AM   #2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 39,198
I haven't run into the situation you describe but I will essentially do so once I hit Medicare age. At that point it will simply become a HSA account I can no longer contribute to. I plan on leaving my account right where it is and using the funds to pay for LTC premiums and future out-of-pocket medical expenses.

Numbers is hard.

Retired in 2005 at age 58, no pension

REWahoo is offline   Reply With Quote
Old 02-08-2010, 07:40 AM   #3
ziggy29's Avatar
Join Date: Oct 2005
Location: Texas
Posts: 15,419
As REW says -- you can still use the HSA for medical expenses incurred with a non-HDHP plan (such as meeting copays and deductibles or LTC premiums), but you can no longer contribute new money to it.
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
ziggy29 is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
The Prudent Lose Another Round barbarus FIRE and Money 12 10-30-2008 04:46 AM
How much did you lose today? ikubak FIRE and Money 74 12-13-2007 12:37 AM
Gotta lose some LB's BOBOT Health and Early Retirement 60 12-03-2006 01:52 PM
Win some - Lose some John Galt Life after FIRE 3 02-19-2005 07:41 AM


All times are GMT -6. The time now is 04:42 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.