Health Savings for Seniors Act - H.R. 7435 - Potential changes to HSA plans (1 Viewer)

[Nugget]

CNBC Article this morning - LINK

The bill’s tradeoffs? It would remove the ability to use HSA withdrawals to pay for Medicare premiums — something that’s currently allowed. It also would eliminate penalty-free withdrawals for nonmedical expenses in the 65-and-older crowd as now permitted.

This would absolutely shift my savings priorities.   I've been maxing this out planning to cover Medicare Part B Premiums and using any leftovers as a traditional IRA account.  

 

[PhillipPhoto]

CNBC Article this morning - LINK

This would absolutely shift my savings priorities.   I've been maxing this out planning to cover Medicare Part B Premiums and using any leftovers as a traditional IRA account.  

That's dumb, makes no sense.  They are trying to take away some benefits of having a HSA so workers can contribute to an HSA past retirement age?  So in other words they are just taking away some benefits/usages of having a HSA.

Save those receipts, get reimbursed in cash to pay for Part B premiums I guess.

 

[Manster]

I've been pumping money into my HSA as a great taxable income reducing tool with the idea that it will have those benefits after retirement.  These #######s spend, spend, and spend some more just so they can squeeze us tighter, cuz guess what?  They wanna spend EVEN MORE!!  F'n bull####!

 

[Snotbubbles]

I've been pumping money into my HSA as a great taxable income reducing tool with the idea that it will have those benefits after retirement.  These #######s spend, spend, and spend some more just so they can squeeze us tighter, cuz guess what?  They wanna spend EVEN MORE!!  F'n bull####!

Yeah, I've been maxing out my HSA too, not because I had any plans for it, just because it was tax free.  

 

[Manster]

Each administration outdoes the last for spending.  By the time my grandkids are tax payers they'll prolly just hand over 75% of their money to the gub.......but everything will be taken care of, right?