REattempt
Recycles dryer sheets
- Joined
- Feb 27, 2010
- Messages
- 293
I have had my HSA since I retired 3 years ago. Got my HD plan in place and opened the HSA in 2011. I've been contributing the max allowable every year.
I typically make my contributions twice a year and it was time to do my first contribution for 2014....and I got to thinking....
Looking at the balance, while not TONS of money ~6k, since I haven't been using much of the money (knock wood), I started to question whether I wanted to continue to make contributions. I then went and researched what happens to the money when I die. I have no spouse, so it would go to my designated beneficiary and be taxed.
How do you evaluate HSA contributions? Should I continue to put money into the HSA just for the tax reduction?
I'd like to hear how other look at HSA contributions in the bigger picture.
Thanks!
I typically make my contributions twice a year and it was time to do my first contribution for 2014....and I got to thinking....
Looking at the balance, while not TONS of money ~6k, since I haven't been using much of the money (knock wood), I started to question whether I wanted to continue to make contributions. I then went and researched what happens to the money when I die. I have no spouse, so it would go to my designated beneficiary and be taxed.
How do you evaluate HSA contributions? Should I continue to put money into the HSA just for the tax reduction?
I'd like to hear how other look at HSA contributions in the bigger picture.
Thanks!