Is a tax-exempt trust or custodial account you set up with a qualified HSA trustee to pay or reimburse certain medical expenses you incur.
This year we decided not to pay our medical bills from our HSA funds. This is where the magic of an HSA comes into play.
Last month we received a bill for $1,200. One option would have been to pay that bill using money already in our HSA.
I am almost 40 years old and am planning to work until age 55. Therefore, if we assume regular contributions of about $7,500 per year for 15 years.