To simplify both posts below:
FSA: good if you know you’re going to have $2-3k+ medical expenses and want to use tax deffered money.
HSA: good if you want to save tax deffered money year over year (and don’t mind having a high deductible insurance plan)
additionally, some people use HSAs as an investment for retirement.
Just to add context:
FSA (Flexible Spending Account) is funded by pretax money and can be used on certain health expenses. While you can have an FSA regardless of health insurance plan, the money is USE IT OR LOOSE IT.
HSA (Health Savings Account) is similar to an FSA, but only available to people with a high deductible insurance plan. This money is YOURS FOREVER and can even be invested.
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.
Cause everything is stupid and you can’t choose your own HSA, I had multiple at one point. It’s easier to merge them all and close the rest so you aren’t keeping track of a ton of accounts.
Edit: Also if your investing there are better or worse accounts, so moving all the money into one can help make you more money.
Why use small screen when have big screen?
Then use small screen and big screen!
Ah, bucatini, the devilse pasta. Nothing like accidentally aspirating on your pasta sauce.
Yeah I thought it was a fun movie too. It would have been nice to have gotten another scifi series that was more focused on fun.
I’m not sure you understand what causes world hunger.
No, but it does allow abuse. I’ve worked at places where the h1-b wages were lower than market rate cause they can’t really leave (they can, but finding another sponsor isn’t easy or without risks).
But they’re the minority, most games have gatcha/pay-to-win mechanics. It’s actually hard to find some simple games where you aren’t harassed to buy things.