If you don’t have a Health Savings Account (HSA), build it up. And if you can pay for regular out-of-pocket medical expenses with other money, don’t take from the HSA. It acts like forced savings. Then in times of emergency, you can tap the HAS for reimbursement for those previous medical expenses-basically reimbursing yourself for medical costs you incurred in prior years.
-Brendan McCarthy, director of wealth management at Three Bridges Planning, Melbourne, Fla.