Money Guy Show – Episode Summary

Episode Title: The Most Underrated Investment Account in 2026
Air Date: December 10, 2025
Hosts: Brian Preston and Bo Hanson

Main Theme

This episode of The Money Guy Show dives deep into what the hosts call “the most underrated investment account in 2026”: the Health Savings Account (HSA). Brian and Bo break down why the HSA is arguably the "sexiest" investment account, explain how to maximize its benefits, discuss why so few Americans use (or invest within) HSAs, and answer questions from listeners about practical financial situations. The episode also features the announcement of new website features designed to help listeners more easily access Money Guy resources and content.

Key Discussion Points & Insights

1. Why the HSA is (Still) the Most Underrated Investment Account

Triple (and Quadruple!) Tax Advantage

• HSA basics: Must be paired with a high deductible health plan (HDHP); designed for qualified medical expenses.

• Triple Tax Benefit:

  1. Tax-deductible contributions (front-end deduction)
  2. Tax-deferred growth (investment gains grow untaxed)
  3. Tax-free qualified withdrawals (for medical expenses)

• Potential Fourth Advantage:
  If employer contributions are made through payroll, funds may be totally exempt from Social Security and Medicare taxes (FICA), creating a "quadruple" tax benefit.

  • "You also get to exempt yourself out of Social Security and Medicare. That's not only for you but also the employer–that's 15.3%. This is powerful stuff." (Brian, 03:48)

Comparison with Other Accounts

• Unlike 401(k)s and Roth IRAs, the HSA gives both a deduction up front and tax-free growth/withdrawals.
  • "For me to say [HSAs are] potentially better than Roth accounts, we better have the receipts." (Brian, 02:31)

2. Choosing and Qualifying for an HSA

Eligibility Requirements (2026 Figures):

• Must be enrolled in an HSA-eligible HDHP:

  • At least $1,700 deductible for self-only coverage ($3,400 family)
  • Out-of-pocket max not exceeding $8,500 (self-only) or $17,000 (family)

• Not all high-deductible plans are HSA eligible—look for explicit confirmation when enrolling.

  • "Just because you meet those deductible limits does not mean that's going to qualify. A lot of plans have copays or office visit prices that preclude you." (Bo, 04:35)

3. Contribution Limits & Coordination with Employer

• 2026 annual limits:

  • $4,400 (individual)
  • $8,750 (family)
  • Plus $1,000 catch-up contribution for age 55+

• The limit includes both employee and employer contributions.

  • "If you have an employer who puts in $1,000, that goes into that total." (Bo, 06:17)

4. Underutilization and Missed Potential

• Only 10% of Americans use an HSA; and just 15% of HSA owners invest those funds (as opposed to keeping them in cash). (Source: Americans for Prosperity)

  • “85% of the folks using HSAs are not actually investing. They’re not taking advantage of the triple-tax account.” (Bo, 07:11)

• Most people use it as a “clearing account”—deposit, then spend each year for immediate medical expenses—missing long-term growth potential.

  • “Using [an HSA] as a clearing account ... pushes away the deferral growth, missing out on what really adds the sizzle.” (Brian, 07:53)

5. Maximizing HSAs: Practical Steps

a. Strategic Open Enrollment Choices

• Don’t automatically choose the HDHP/HSA route if your employer offers a highly subsidized “Cadillac” plan—it might not be worth the tradeoff.

b. Actually Fund and Invest It

• Ensure contributions beyond any employer contribution.
• Invest the funds—don’t leave the balance in cash unless needed soon.

c. The Advanced Strategy: The "Receipt Locker"

• Pay out-of-pocket for current medical expenses. Save (and digitally archive) every receipt.

• Years (or decades) later, you can reimburse yourself tax-free from your invested HSA.

  • “As you incur medical expenses, pay with outside dollars... save the receipts. You can then reimburse yourself at any time in the future.” (Bo, 10:00)

• This creates a flexible, tax-free “slush fund” in retirement.

6. HSAs & Retirement Planning

• HSAs can be tapped in retirement for medical expenses, supplementing Roth conversion strategies, or covering living expenses in a tax-efficient way.
  • "When we were trying to figure out ... what’s going to pay the bills while we were doing Roth conversions, we found out the HSA was a great opportunity. They could get access to money completely in a tax-free way." (Brian, 11:02)

7. The HSA User Experience is Improving

• HSAs are easier to open, transfer, and invest in than ever before (major custodians like Fidelity now offer streamlined services).
  • "It’s gotten easier... that takes down one more barrier." (Brian, 20:45)
• Historically, “clunky” setups and bank custodians discouraged investment, but now it’s more like managing other brokerage accounts.

Notable Quotes & Memorable Moments

• On why the HSA stands out:

  • “The thing that makes them so exciting is that they have tax benefits that combine tax benefits from some of our other favorite accounts all into one singular account.” (Bo, 01:59)

• On strategic use:

  • “It’s okay to be strategic with your open enrollments ... Even though we love HSAs, we also love when you have really, really great health insurance.” (Brian, 09:29)

• On the popular 'keep receipts' hack:

  • “If you save those receipts... you can then reimburse yourself for these receipts at any point in the future.” (Bo, 10:00)

• On the show’s influence:

  • “When we first started covering this, only 6% of the population was maximizing this. Now we find out it’s 15%. I feel like we’re pushing the water slightly up the hill.” (Brian, 07:36)

• On accessibility improving:

  • “Now it kind of integrates in probably with how you’re managing your monthly investments.” (Brian, 20:45)

Key Timestamps

• 01:06 — Introduction: "Financial Mutant Quiz ... most underrated investment account for 2026?"
• 02:31 — HSA's triple (and “quadruple”) tax advantage
• 04:15 — HSA eligibility and high-deductible plan requirements for 2026
• 05:38 — How to check if your health plan qualifies
• 06:05 — 2026 HSA contribution limits, including catch-up rules and employer coordination
• 07:04 — Underutilization stats: Only 10% use HSAs, of them only 15% invest
• 08:24 — Modeling proper HSA use: maximization tips and open enrollment caveats
• 10:00 — The receipt-saving strategy: investing HSA, paying out of pocket, reimbursing later
• 11:02 — Case example: leveraging the HSA during Roth conversions/retirement
• 12:07 — HSAs as “fill-in vehicles” for strategic tax planning
• 13:10 — Website improvements: new search features on MoneyGuy.com

Q&A and Listener Engagement Highlights

• Real Christmas Tree Debate & Emergency Fund Strategies (24:59): Should the size of the emergency fund change with shifts from dual to single income?

  • "If now you're just one income, that's riskier ... probably lends itself to expanding your reserves to six months instead of three." (Brian, 26:02)

• Target Date Funds for Retirees (27:27): Why aren't there funds aimed at specific withdrawal dates, not just retirement years?

  • "As your assets grow ... it might make sense to move from generalized solutions to specific to your unique circumstances." (Bo, 29:13)

• Saving as a Recent Graduate Living Rent-Free (32:49): How to turbocharge savings when temporarily living at home.

  • "Use this as an opportunity to give you a leg up ... Let the savings actually create fruit." (Brian, 34:51)

• Feeling Tight Despite Net Worth (Giggle and Goals Galore, 42:16): On loosening the purse strings after reaching financial milestones.

  • "You can graduate ... We quit doing Tightwad Nation. As we started having success, we realized what it took to make even better memories." (Brian, 45:23)

• HSA After Death / Inheritance (48:46):

  • "Whoever is processing your assets would need to know where your tracker is ... your executor can still pay these benefits out." (Brian, 49:00)

Website & Resource Improvements Announcement

MoneyGuy.com Updates (14:00-17:30)

• New robust search functionality for episodes, guides, and articles (demonstrated live)
• Many resources remain free—aligning with their "abundance cycle" philosophy
  • "It's a free website, by the way. All the people we have working behind the scenes is not free." (Brian, 16:40)

Community Poll Results

• While only ~10% of Americans use HSAs, over 50% of Money Guy listeners polled use them, with 47% leveraging HSA accounts as investment vehicles.

  • “This is why financial mutants are different!” (Director Ribe, 19:30)

Closing Thoughts

• HSAs are powerful, versatile, and easier than ever to use and invest within. But true maximization requires intentionality: use the account as an investment vehicle, not just a spending conduit, and employ strategic planning such as receipt storage to create future tax-free reimbursements.
• Evaluate your personal insurance plans and employer options annually, seek the right financial order of operations, and give yourself permission to enjoy the fruit of your labor as you hit financial milestones.
• The Money Guy team continues to expand free tools and resources, reinforcing their mission to “let your assets do the heavy lifting.”

Memorable Quote for the Episode:

"Money is nothing more than a tool that allows us to achieve our goals. Accumulating more money isn’t the goal—it’s just the toolkit."
— Bo Hanson, 45:23

For more resources, personalized tools, or to search for specific Money Guy content, visit moneyguy.com.