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Reply to "Tell me how you use your HSA?"
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[quote=Anonymous]We have about 40K in HSAs invested. Don't plan on touching it for medical expenses. We just pay out of pocket for medical expenses. I love the HSA. It combines the best of a regular IRA and Roth IRA (tax free going in and tax free coming out) except that it's limited to medical expenses. Here's the best part. The IRS does not really track how it is spent nor ask you to prove it was spent for medical expenses. For instance, about 3+ years ago, I withdrew $10K from that account to invest in the stock market by mistake (instead of liquidating a deposit account with the bank). The bank wouldn't "fix" my mistake because it was several months before I realized. The IRS did not come after me to prove I used it for medical expenses. [/quote]
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