Hi everyone,
I’m unsure if this is the right subreddit to post this question but wanted to hear some thoughts and feedback on an HSA question.
I (24M)currently have $10k in my HSA and am planning on maxing out contributions this year.
I have a chronic condition that costs about $5k a year for medical devices, prescriptions, doctor’s appointments, etc. I am on my parents’ health insurance and am lucky that they are paying my medical expenses right now.
They are both retiring next year and I will need to start paying for my own health expenses around August 2027. I planning on changing my health insurance plan to the high premium low deductible via qualifying lifestyle change and then exhausting my HSA fund to pay for medical expenses while switching to the FSA my workplace offers.
In the meantime, what should I do with my HSA funds? I currently have it all invested in a HYSA, but wondering if I should change investments to a mutual fund to take advantage of the tax free growth. However I know it is a short timeline.
Any thoughts would be most helpful. Thank you!