Resident here, thinking about switching from traditional health insurance to HSA as I'm learning the benefits of the account. Currently, the yearly max contribution is $3400, and the deductible is $1300. Some technical questions:
1. Assuming I meet the deductible at some point in the year, and THEN have further health care costs - does the plan pay? Essentially, are you guaranteed to pocket the difference of the max contribution and deductible (3400-1300 = 2100) since the plan is then obligated to pay for costs (so as long as they are covered)?
2. As a resident, my top priority is to max out Roth IRA. My employer does not match residents in 403b. I am going to find out if they match HSA contributions. Should HSA be the next account to work on? (apologies, I realize this is more of an investing question but for the sake of continuity I've tied the ?s here)
Thanks!
1. Assuming I meet the deductible at some point in the year, and THEN have further health care costs - does the plan pay? Essentially, are you guaranteed to pocket the difference of the max contribution and deductible (3400-1300 = 2100) since the plan is then obligated to pay for costs (so as long as they are covered)?
2. As a resident, my top priority is to max out Roth IRA. My employer does not match residents in 403b. I am going to find out if they match HSA contributions. Should HSA be the next account to work on? (apologies, I realize this is more of an investing question but for the sake of continuity I've tied the ?s here)
Thanks!
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