News for hackers. Stuff that matters.

A comment on Most hospitals aren't complying with price transparency rule. Parent comment

Re:Most hospitals aren't complying with price transparency rule by caturopath on Tuesday June 15, 2021 @01:55PM (#27518983)
If you aren't reimbursing medical expenses, the money is taxed, even when you are 65+. (It functions sort of like a Traditional IRA in that circumstance.)

The real trick is to save medical receipts for years/decades and reimburse only when you actually need the money, paying out of pocket until then.

[ Parent | on HN ]
Re:Most hospitals aren't complying with price transparency rule by PaulDavisThe1st on Tuesday June 15, 2021 @01:56PM (#27519004)
What I mean is yes, indeed, it functions like an additional traditional IRA, gains are accumulated tax free, and the balance can be withdrawn in any way you want post-65.

Does that trick actually work?

[ Parent | on HN ]
Re:Most hospitals aren't complying with price transparency rule by caturopath on Tuesday June 15, 2021 @02:04PM (#27519150)
> Does that trick actually work?

There is no time-boxing on reimbursement, so it should. HSAs are only about a decade old, so no one has done the extreme versions of it yet, but a decent number of folks are squirreling away receipts and letting the money grow.

[ Parent | on HN ]
Re:Most hospitals aren't complying with price transparency rule by astura on Tuesday June 15, 2021 @02:23PM (#27519448)
Why wouldn't it? There's no time limit on using the funds and no time limit on reimbursing yourself for medical expenses.

Kinda like a backdoor Roth, no rules prevent it, so it works.

[ Parent | on HN ]