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In addition to using an HSA for medical expenses, it can also be used as another way to save for retirement. Once you reach age 65, money held in an HSA can be withdrawn and used for any reason ...
Health savings accounts aren't nearly as popular as their more well-known counterparts like IRAs and 401(k) plans. Although their stated purposes are different -- an HSA is supposed to help you pay...
HSA funds roll over year after year, and the HSA does not have a required minimum distribution or withdrawal deadlines. Any money you put into your HSA stays there until you use it. HSAs are portable.
Funds in a health savings account can be invested in a manner similar to investments in an Individual Retirement Account (IRA). Investment earnings are sheltered from taxation until the money is withdrawn and can be sheltered even then, as discussed in the section below. Investments in a health savings account can be directed by the individual.
"The HSA was created when high-deductible (insurance) plans came about," explains Joseph Conroy, author of "Decades & Decisions: Financial Planning at Any Age," and a financial advisor with ...
Whenever possible, try to use your HSA money for these expenses — or for any others the IRS identifies as eligible. You can find a complete list in Publication 969 or visit sites like the HSA ...
A health savings account, or HSA, is a tax-free savings account that helps eligible individuals pay for qualified medical care. Not only do you put pre-tax money into an HSA, but you can also make ...
Additionally, only 12% of accountholders invested in HSA funds rather than save the money as cash. With Medicare costs rising , many Americans could find their retirement savings running short as ...