Funny Math ~ This Can’t Be Legit or We’re Gonna Need A Bigger Boat

Time to tell a story about how the “haves” and the privileged few save money to buy their boats.

I mentioned I was researching best option for health insurance.  I watched a video that I really need to re-watch before the open enrollment period ends. I could swear I heard this correctly but seems too good to be true.

We can put up to 8k away in an account (tax-free) and if we pay for our healthcare expenses out-of-pocket we can let the balance continue to accrue.  We need to save all of our receipts for old expenses.  Then in 2028 we can withdraw the amount for all the dental work we had done in 2023 and buy a boat!

Um really???  Use that money for anything we see fit???!?  Tax free! Yes! That’s what cartoon ALEX told me.

I was giddy y’all :).  I thought why not take advantage of this too good to be true offer?  And in that moment I realized I was not giddy, I was nauseous.  Somehow this feels like taking advantage.  I feel guilty for having so much.  Way more than my fair share.

But we could use the money … not for a boat mind you but for something.  Maybe we could do good with this “found” tax-free money.  After all it’d be us putting OUR money away.

Now all I need to do is figure out what happens if I do not save my receipts?  I am notoriously bad at that.  Not the saving part (pack rat who over-saves in middle of purge) but the keeping of said receipts in an organized manner where I can find them again.  Also what if I put in more than we spend on healthcare?  And what happens if I die with $$ still in the account?

Decisions, decisions.

As always, more to come.

 

3 thoughts on “Funny Math ~ This Can’t Be Legit or We’re Gonna Need A Bigger Boat

  1. HSA accounts can have a nice benefit, if you make it to 65 and remain healthy. However, they are often paired with High-Deductible health insurance plans that can leave you stuck with several thousands of dollars coming out of your pocket before your insurance company spends dollar-one. These are pretty much the only option we’ve had for several years. Getting my insurance company to actually have to spend money required a year that included a case of sudden hearing loss and an emergency room visit by ambulance. Every year without those extreme events, I’ve paid my premiums but never collected anything from my insurance.

    Liked by 1 person

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