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Welcome to episode 18! We’re talking HSAs aka Health Savings Accounts.
With the burden of healthcare costs falling to individuals and families, HSAs can be an amazing tax free way to pay for not just doctor visits and hospital stays but also LASIK eye surgery, acupuncture for chronic pain, and more. Enter Lively, a company focused on making HSAs flexible, affordable, and accessible to everyone. My guest is the co-founder of Lively, Shobin Uralil, who takes us through some of the hoops to jump through to access one of best financial planning tools out there.
My guest is the wonderful Shobin Uralil, the co-founder of Lively, an HSA provider that is making HSAs suck a whole lot less!
The Power of the HSA
- HSAs are a powerful tool to pay for medical expenses tax free
- Unlike an FSA (confusing, right?), HSA dollars do not expire at the end of the calendar year
- You can contribute $3,500 as an individual or $7,000 as a family to an HSA in 2019
- Your HSA dollars can be spend on qualified medical expenses BUT can also be saved and even invested in the stock market
- Still lost? Lively has an HSA 101 page that I think you’ll love.
The Non-Money Minute
Want to know why that hot sauce makes you sweat? It’s because it’s got about a million SHUs — that’s “Scoville Heat Units,” which are used to measure the spiciness or heat of peppers on the Scoville Scale.