Health Savings Account

Now that these accounts are open at Charles Schwab, Marotta Wealth Management can manage and invest Health Savings Brokerage Accounts.

Going forward, the Fidelity HSA® is my primary recommendation for an HSA custodian.

There are several reasons why you either might not be allowed to contribute the full amount or may accidentally over-contribute to an HSA.

We are very thankful that Genworth has released this information freely for everyone to use.

If you are married, instead of only opening and funding one HSA, you may benefit from splitting the contribution limit and funding both.

When you receive reimbursement for an expense you’ve already paid from the HSA, that portion of your HSA distribution is no longer a qualified medical expense and must be recontributed to avoid tax.

When an HSA is left to a non-spouse, the account stops being an HSA.

We recommend keeping all but the funds needed to pay the annual deductible for your health insurance plan invested in your HSA investment account.

There are two ways to make an HSA contribution. You can contribute by mailing a check or you can link an external checking account.

There are many choices for an HSA custodian, but we like to recommend HSA Bank because it allows you to custody funds for investment at TD Ameritrade.

Sadly, the IRS is very clear about this; contributions must be cash.

We believe that this mix of funds should provide a timeless allocation for the HSAs of University of Virginia employees.

This is the financial shock of a trip to hospital. It is upsetting, expensive, and unexpected.

A low cost timeless portfolio for your HSA with HealthSavings Administrators.

If both spouses contribute to their own HSAs for 2019, they can achieve a joint contribution of $9,000.

We recommend that you fund your Health Savings Account (HSA) to the maximum limit each year and that you keep funding it to the maximum as long as you can no matter how much money you have in the account.

More and more family plans are actually composed of many different independent people in the eyes of the government.

A few often overlooked facts reveal large annual savings on your health insurance premiums in acquiring a family HSA.

You are unlikely to need funds for any long-term care episode until about age 85. Given the long time horizon, we suggest investing your HSA for appreciation.

David John Marotta was interviewed on radio’s The Schilling Show discussing Health Savings Accounts and the recent Healthcare bill passed by Congress.

HSAs have so many advantages over traditional IRAs that you should continue funding your HSA as long as possible and build as large an HSA investment balance as you can.

Under the “last-month rule,” you can contribute the full amount even after a partial year assuming you meet the “testing period.”

There is an obscure tax rule that allows a one-time Traditional IRA-to-HSA conversion called a Qualified HSA Funding Distribution (QHFD).

An HSA is one of many accounts used in comprehensive wealth management for tax optimization and planning.

You’ve opened your HSA and funded it for several years. When should you stop funding it?

Q: It’s annual enrollment time, and my employer is now offering a health insurance plan with a $3,500 deductible and otherwise similar benefits as an alternative to our conventional HMO health plan. What do you recommend I do?

Employers and employees alike are feeling the squeeze of swelling health care costs. According to the Kaiser Family Foundation, health insurance premiums have risen at an average rate of 12 percent per year since 2000. Unable to keep up with rising premiums, employers are forced to pass on costs to employees, to trim benefits, or worse yet, to dump the coverage all together.

Employers and employees alike are feeling the squeeze of swelling health care costs.

Public policy to increase choices for healthcare coverage.

Excess contributions to your HSA can be withdrawn after age 65 without penalty just like a traditional IRA.

One out of every ten patients consume 69 percent of health care costs. The other nine would benefit from an HSA.

All systems must have a regulator in order to dampen runaway reactions. Healthcare coverage is no exception.

Here is a rule for building stable economic systems: Who pays for a service and who is empowered to decide if a service should be given and who actually benefits from the service should all be the same person.