Today, and the beginning of every January, is the most important date for your Health Savings Account.

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When your Health Savings Account balance equals (or exceeds) your Annual Out of Pocket Maximum of your High Deductible Health Plan, you should not have to worry about how you will pay for any unexpected accident, sickness or other peril throughout the course of the year.

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Your HSA gives you peace of mind!

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Your HSA also ensures you save at least 28% (and up to over 50%) on everything you purchase with your HSA.

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A traditional health insurance plan - with deductibles, copayments and coinsurance - will cost you more each year in total spent on premiums, out of pocket expenses and taxes.

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Having less than your Annual Out of Pocket Max in your HSA means that you may have to pay for unforeseen expenses with money that you have already paid tax on - which is a waste of your money and defeats the entire purpose of spending the least amount you have to.

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When you move money from one of your traditional savings accounts to your HSA, you’re not spending a dime.

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In fact, you’re going to get even more money because you’ll get back the taxes your already paid on the money in your traditional saving account.

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Be sure to open a second, personal HSA to move that traditional savings. I prefer Lively HSA. It’s free. It’s online. And it’s paperless.

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​Open your personal Lively HSA here​

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And be sure to follow us @doxcost and on Apple Podcasts or wherever you get your podcasts.

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Best wishes to you and yours in 2025!

Cheers!

Scott W. Dowling