To get the most out of this tax shelter you have to run up medical bills over the next several decades that, cumulatively, exceed your account balance. You also have to be aware of a peculiar rule that says you can make retroactive claims, explains Eric Remjeske, whose Minneapolis firm, Devenir, helps HSA providers design investment menus.
Let’s say you get a $1,000 doctor bill you owe because you haven’t met the steep deductible in your insurance plan. Keep your HSA debit card in your wallet, advises Remjeske. Whip out another credit card, maybe one with reward points, whose balance you scrupulously pay in full every month, for the doctor.