![]() Starship Securities, LLC is a wholly-owned subsidiary of Brighter Financial, Inc dba ‘Starship’. Investing Accounts and investment advisory services offered through Starship Securities, LLC, a registered investment adviser. Additional information on FDIC insurance can be found at. To learn more about pass-through deposit insurance applicable to your account, please see the Account Documentation. Balances moved to network banks are eligible for FDIC insurance once the funds arrive at a network bank. For a complete list of other depository institutions where funds may be placed, please visit. nbkc bank utilizes a deposit network service, which means that at any given time, all, none, or a portion of the funds in your Starship accounts may be placed into and held beneficially in your name at other depository institutions which are insured by the Federal Deposit Insurance Corporation (FDIC). Accounts subject to approval.Īny balances you hold with nbkc bank, including but not limited to those balances held in Starship accounts are added together and are insured up to $250,000 per depositor through nbkc bank, Member FDIC. The rates are effective as of October 1, 2021, are variable and subject to change after the account is opened. We use the Spending Account’s end of day balance to calculate the interest earned that day. 04% APY on deposit balances $2,000 and above. 01% Annual Percentage Yield (“APY”) on deposit balances $0.01 – $1,999.99 and. Balances in your Starship Spending Account (“Spending”) earn. Spending Accounts and the Starship Visa® Debit Card provided by and issued by nbkc bank, Member FDIC. *Starship is a financial technology company, not a bank. Not only because you’ll be reaping your account’s triple-tax advantage, but also for your future! However you decide to contribute towards your HSA, you’re making a smart move. So if you were only HSA-eligible for 8 months out of the year, you’ll only be allowed to contribute the equivalent of that amount. To make this happen, first, figure out how much you can contribute (since your limit is prorated based on your eligibility in 2022). Whatever the case may be, you may still be able to contribute to your HSA assuming you were eligible for 2021. Or you switched jobs and they don’t offer an HSA-eligible health plan. Perhaps you changed health insurance plans and you’re no longer HSA-eligible. If You’re No Longer Eligible for Contributions in 2023 Consider how nice it’ll be to see that money grow by the time you’re ready to retire…or when you need it for an unforeseen medical expense.Īnd always remember: time is one of your best advantages to investing, so it’s smart to think of contributing to your HSA as part of your overall retirement strategy. But! If you do have some extra cash, say, from that side-hustle, or maybe your rich aunt gave you a nice chunk of change for your birthday, think about socking those dollars away instead of spending them on a weekend getaway, or that new TV you’ve been eyeing. Well, sometimes circumstances get in the way, and that cash needs to work for you in the immediate. So why not contribute as much as you can and max out your account out each year? The whole point of an HSA is to make your hard-earned dollars work for you, as well as to help you save on medical costs (duh). Well, since your HSA is tax-free and any contribution you make to it (except direct, pre-tax paycheck deductions) is tax-deductible, making a contribution before the tax deadline helps you maximize your tax benefits, which is to say: you’re paying less in overall taxes. Now… let’s say you added in a side hustle in 2022 and it did really well, which also means you’ll need to pay more in taxes. Always check with the IRS for the specific year’s date. Contributions are based on tax year so you usually have until April 18th to contribute towards 2022. The contribution limits for 2022 are $3,650 for individuals and $7,300 for a family. As in its epic triple-tax-advantage: withdrawals for qualified medical expenses are tax-free, contributions to your HSA lower your taxable income, and any interest you earn in your account grows tax-free. However, contributing to the previous year has some specific perks…Ī major reason to have an HSA is for its incredible tax benefits. No matter how you slice it, whether you’re contributing to your HSA for this year or last, you’re taking the right step with your finances. No lie! This hack is like how retirement accounts work in that you can contribute towards 2022 for tax purposes, e ven though we’re well into 2023. ![]() When it comes to health savings account (HSA) contributions… there’s quite a bit to talk about! Although it may sound strange, putting money from this year toward your HSA contribution limit from last year can seriously benefit your wallet. Have some extra money and thinking about putting it towards your health savings account (HSA) contributions in 2023? Not so fast! Here’s why. ![]()
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