Hey, Jackal, is the Kuzko’s poison?
Comment on There is a fee to close my HSA account
jackal@infosec.pub 3 days agoThis is exactly what I do. Spend all the money out of the account and delete my login. Done this at least a couple times and I’ve never had an issue. What are they gunna do? File a bullshit claim on my credit?
01189998819991197253@infosec.pub 3 days ago
jackal@infosec.pub 2 days ago
That is Kuzko’s poison indeed.
01189998819991197253@infosec.pub 2 days ago
The poison. The poison for Kuzco, the poison chosen especially to kill Kuzco, Kuzco’s poison. That poison?
AA5B@lemmy.world 3 days ago
Honest question: why? I’ve only been able to use an HSA once, and I thought the big advantage is that it’s your money you can keep and use whenever. Can’t you just keep using it normally, ideally save some of it?
In my case, my ex got it put in our divorce judgement that I would carry “traditional” insurance, so I knew that my HSA had no future
jacksilver@lemmy.world 1 day ago
HSAs are an annoying attempt to fix US health insurance. They are tax free (meaning your money goes farther), but you can only contribute to them if you have a high deductible health insurance plan.
Additionally, you are limited to a couple thousand a year in contributions and that money can only be used for approved health expenses. The slight upside is that the money won’t ever go away, meaning you can keep building up your HSA and even invest it.
Where it’s gotten weird is that many people actually just use it as tax deffered savings, as after 65 (I think) the money becomes general use.
However, this means HSAs primarily benefit wealthier people by only really being accessible to those who already have insurance and have excess money to contribute.
jackal@infosec.pub 3 days ago
Well, I spent the money using the American healthcare system. Because my insurance sucks so much that I often get shafted with huge bills. One such recent one was learning I had to get hearing aids out of pocket as my plan had no coverage. That is why my HSA is gone.
AA5B@lemmy.world 3 days ago
That’s unfortunate: it definitely sucks both that hearing aids are inordinately expensive and that they’re not usually covered. I assumed from reading your post that it was more intentionally spending down and abandoning the account
potpotato@lemmy.world 2 days ago
You can’t contribute to the HSA but can spend it on qualified medical expenses or sit on it until age 59.5 and draw it down or use it to pay Medicare premiums starting at 65.