Starting in 2004, americans with a high deductible health plan are able to contribute to a health savings account hsa. By lowering our tax burden and maximizing our eligibility for college. We pay cash for any medical, dental and vision expenses that we incur right now and save the receipts for reimbursement during. If you are currently participating in a high deductible health plan hdhp and are contributing to an hsa, you may also participate in a limited purpose hra or health fsa. Has anyone been able to do this with being an expat. Taxes and college tuition are 2 of the greatest expenses parents will face.
This account is not related to health benefits, but is a common account offering under flexible spending accounts. Also anyone have experience using medical expenses from overseas to claim funds with your hsa. Along the way ive made only minor adjustments annual rebalancing, minimizing longterm taxes with capital gain harvests and roth conversions, and adding the occasional small chunk of fresh capital as blog income allowed. We have been living off our portfolio since late 2012. We pay cash for any medical, dental and vision expenses that we incur. Qualified medical expenses funds you withdraw from your hsa are taxfree when used to pay for qualified medical expenses as described in section 2d of the internal revenue service tax code. Other tax deferred accounts, such as an hsa, can shift the curve.
A dependent care fsa is used to pay for eligible child care expenses. But after 7 years of the stock market trending upward, and the conscious decision to spend more, in early 2019. For example, a quote we received for an hsaeligible bronze plan in. Taxes and college tuition are 2 of the greatest expenses.
What expenses are eligible with an hsa, fsa or hra. How do you factor in for pretax savings, 401k plus match and hsa. An hsa is tripletaxadvantaged contributions are taxdeductible, growth is taxdeferred, and withdrawals for medical expenses are taxfree. Expenses are limited to dental and vision expenses identified with an in the list below.
978 1190 393 1622 892 541 1551 267 568 72 883 1105 13 652 3 769 1256 739 648 300 1362 588 758 55 818 1318 1027 1286 1389 924 155 759 635 845 56 441 1193 1122