Subject: RE: HSA Recommendations?jacasa - 2010-05-20 6:00 PM
My company uses American Charter Bank. Why does it matter what the ineterst rate is? This isn't an investment, but a convenience.
It kind of is an investment, to the extent that any amount not used for health expenses can be used for retirement after I think age 65. From my understanding it's kind of like a 401 (k ) except that you can use the money for medical expenses prior to retirement age. If you withdraw it for any other reason it is subject to tax and penalties, but can be withdrawn at retirement age without penalties. So that's why the interest rate matters to me!
Thanks everyone for the input! |