Episode #55
Should You Pay Medical Bills Out of Pocket to Grow Your HSA?
Letting your health savings account grow is the right move for some people and the wrong move for others, and the difference is cash flow, not discipline. An HSA is the only account in the tax code where money goes in untaxed, grows untaxed, and comes out untaxed for qualified medical expenses. Most people collect two of the three and treat the account like a coupon for this year’s doctor visits. Josh Duncan, fee-only fiduciary and partner at F5 Financial Planning, names the one condition that has to be true before paying medical bills out of pocket makes sense. This episode covers: How an HSA beats a traditional IRA and a Roth IRA on taxes What the 2026 contribution limits and eligibility thresholds are Why two people with the same balance need different plans Whether spending your HSA on this year’s copays is doing it wrong When Medicare enrollment stops contributions but not tax-free withdrawals How to compare last year’s numbers to find which side you are on The account is there to help you, and there is nothing to prove by leaving a balance untouched that you need. Work with us at https://www.f5fp.com About F5 Financial Planning: At F5 Financial Planning, we help individuals and families align their finances with what matters most so they can live lives of Freedom and Significance. We are a fee-only, fiduciary financial planning and investment management firm, meaning we don’t earn commissions or sell products — our only commitment is to our clients’ best interests. We provide comprehensive financial planning, investment management, tax-efficient strategies, and retirement planning for families, corporate executives, and entrepreneurs. Our team serves clients nationwide through virtual meetings and from offices in Illinois, Georgia and Florida. At F5, our goal is simple: to help you gain confidence, clarity, and control over your financial future so you can focus on the people and passions that matter most. Visit https://www.f5fp.com to learn more about our services and planning process. ***** Advisory services are offered through F5 Financial Planning, LLC, an SEC-registered investment adviser. This content is for educational and informational purposes only and should not be considered personalized financial, investment, tax, or legal advice. Viewing these videos does not create an advisory relationship with F5 Financial. All investments involve risk, including possible loss of principal. For guidance specific to your situation, please consult a qualified professional.
