Objective information about retirement, financial planning and investments



  1. HSA’s are a great way to get your annual taxable income down. It’s a situation where you KNOW you will spend this money at one point or another. So, why not take advantage of it? I know we’ve spent a small fortune on medical expenses related to our kids over the past several years. I only wish we would have maxed out our HSA from the get-go!

  2. What do you think would be the time to start a Healthcare Savings Account? I know the earlier the better, but there are so many investment opportunities that it’s difficult to determine what to choose to invest in. Thanks for this informative article.

    • Roger Wohlner says

      Thanks for the comment. The earlier the better is true generally, but everyone’s situation is different. One feature of the HSA to keep in mind is that the money can be used to cover qualified medical expenses so if some of the money is needed for that purpose along the way the account holder still gets the tax benefits.

  3. John Chamberlain says

    HSAs need to be enhanced in both services covered and contribution amount.

    Specifically, HSAs need to be allowed to be used for Direct Care monthly/annual membership fees. The IRS has the authority to do so and they have the Congressional approval to do so via the PPACA. They have either not figured that out or have simply chosen not to.

    As far as contribution limits, they need to be increased as the current amount is too low for most people to take good advantage of, especially as deductibles and out of pocket maximums continue to increase.

    • Roger Wohlner says

      Thanks for your comment John. Good observations and I’d certainly support any enhancements that would increase the value of an HSA as a means to save for retirement expenses in general and healthcare costs specifically.

  4. I think Fidelity’s number on the amount of money needed for medical expenses was low. EBRI just came out with their study. They suggest some couples may need $400,000 for medical expenses. While an HSA is good, a 401(h) Account is better. Most financial companies have a 401(h) for their retiree’s. However they don’t train their financial advisors to educate their small business clients on 401(h) accounts. It’s similar to an HSA, except the contribution amounts are much higher. A great deduction for small business owners as the 401(h) deduction is 9 times higher than an HSA.


  1. […] HSAs: The Other Retirement Plan from Roger Wohlner […]

  2. […] HSA accounts can be used to cover the cost of a host of qualified medical expenses and can be tapped to cover the cost of COBRA if you are unemployed. […]

  3. […] a health savings account (HSA). For those of you who are still working and/or not yet on Medicare, funding an HSA account is a great way to help cover the costs of health care in retirement. In order to contribute to an […]

  4. […] Wohlner from The Chicago Financial Planner and author of “Health Savings Accounts – The Other Retirement Plan” says you can contribute to an HSA with pre-tax money, similar to an IRA, and withdraw the […]

  5. […] health savings account (HSA) is available only in conjunction with a high deductible savings plan. These plans require a minimum […]

  6. […] with longer lifespans. It is critical you plan for this during your pre-retirement years. Using an HSA as a vehicle to save for medical costs in retirement can be a great tactic if you have access to […]

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