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Money and Finances
Reply to "Very basic HSA question"
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[quote=Anonymous]You are confusing several concepts. You CAN use the HSA as just a tax shelter. That means you just save it and invest it. Or you use it as a tax advantaged way to pay your OOP medical expenses. Or both if you dont need it all for medical expenses. You can use it for medical expenses immediately. You should have gotten a credit card for that purpose. The tax deductibility of medical expenses is a very high hurdle, as you note. Even with a hospitalization you aren't likely to get over $25k because your OOP max would kick in and usually they are well below $25k. I've hit mine twice in the last 3 years with hospitalizations for DC and our OOP was $13k. We had some expenses (like copays) over $13k but never got close to the 10% of AGI level.[/quote]
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