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Old 08-13-2007, 12:28 PM
cbloom cbloom is offline
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Join Date: Jul 2003
Location: communist
Posts: 8,940
Default HSA (Health Savings Account)

I'm trying to get an HSA, and I'm curious if anyone has one that they like. I've looked at a few and reading through the fine print I've found :

Key Bank - huge ridiculous fees, no way jose
Chase - $2.50/month , otherwise looks pretty okay
Other ?

Unfortunately it seems like the nice online savings people like ING aren't in the HSA business yet and none of my banks offer an HSA [img]/images/graemlins/mad.gif[/img]

For review :

I think an HSA is a good more for most poker players. Assuming you have an HDHP (which you should) (HDHP = high deductible health plan), you can put about $2500 in an HSA each year tax free, just like an IRA, but you don't have to wait until retirement to spend it, you can spend it on any health care expenses. It basically makes your health care costs tax free. (health care costs are deductible in some cases, but this is way better because it just comes off the front end like an IRA so you don't have to worry about itemizing and making sure each health care expense is in fact deductible). You can put the money in any kind of fund just like with an IRA, though some banks only offer savings or money market accounts.

An HSA and a SEP-IRA are just about the only things a pro poker player can do to reduce their tax burden.

So has anyone here gone through this?
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