A random collection of things that are top of mind today...
M had yesterday off for Juneteenth, and we spend a bunch of time in the yard trimming a huge bush/tree. It was a lot of work, but it was getting close to our roof line & making a mess in the gutters, so this was a necessary project. He also drove me to the mall to return a shirt for my mom (should have chosen a day that wasn't a holiday!), which worked out well, as he stayed in the car & I zipped in & out to do the return.
I submitted payment for his urgent care visit + x-ray ($545 - yikes), and requested reimbursement. The health care thing is so much more complicated now, as M is our insurance provider, but I have the majority of the funds in my HSA. M sends me the bills (which, neither of us can review, if it's for a dependent), I pay the bill via my credit card (for points!) & then reimburse myself through my HSA. It was a lot more straightforward when I was the insurance provider & had the HSA funds. But, at least I'm getting the credit card points? ;-)
Sam & his friends plan to drive to Los Angeles for a weekend, for their senior trip. I'm helping him review hotel options, and we are discussing all of the things a first time (solo) traveler might need to know. They are all really good kids, so I'm not worried about them, but they are all also a bit naive about traveling solo, so this should be an adventure!
Meanwhile, Nick is bringing a friend with us to Lake Tahoe for the 4th of July, as Sam will be on above senior trip. He's been friends with this kid since 1st grade, so love that they are going to hang out together.
Things I need to do today:
- Heading out for my running class soon
- Daily chores (Farsi lesson, meditate, journal, yard work)
- Pack for our trip
- Check in for flights. Sort out seats for M & the boys if they don't get upgraded (they are on the upgrade list.)
- Clean the house. No one wants to come home to a dirty house.
- Help Sam book the hotel for his trip
- Have Sam try on running shoes & return whichever pair doesn't work.
- Laundry
- Read by the pool
I have a question for you about using your HSA. I feel like many in the MMM community use their HSA as another retirement savings account. In the past I have used ours to pay for expenses as you did, but since reading MMM and also since we currently have the money to pay for expenses, I haven't been touching it. Wondering what your thoughts are on the HSA as another vehicle for retirement savings vs using it for current needs.
ReplyDeleteKathi
It's a good question. I think the debate may be based on whether you're expecting to be at a higher or lower tax bracket as you move to retirement, and to your point, whether you can afford those expenses in the moment. We can afford it, but I'm not interested in the tracking required to keep the money for an extended period of time & then pulling it out. For example, rather than paying Sam's doctor's bill now from our HSA, I could cover it out of our regular funds, & track it somewhere along with all of our other medical , and then when I'm retired, start drawing down the HSA using all of the previously qualified medical expenses. Just me personally, but I worry about 1) the record keeping involved and 2) the potential for the plan distribution rules changing. Also, we've probably over saved in our 401Ks, so I'd rather have the cash now, when we're in our biggest spending years (about to have two kids in college).
DeleteMy $.02, and I think there are a lot of good ways to approach this, depending on your financial situation.
Thank you for the reply - I agree with you on a lot of the points you made. I have a big doctor bill I have been putting off paying which is dumb because we have the money, but it is painful nonetheless. I am going to just use the HSA card since that will feel like I am not paying anything. I could do what you do with the credit card and then getting the money from the HSA, but I'll take the easier approach.
DeleteWe no longer have a health spending account so I am ever so grateful for our extra insurance.
ReplyDeleteGod bless.
I'm so glad you have the extra insurance! (HP)
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