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While the amount you can contribute each year to an HSA is lower than that of 401(k)s and IRAs, it still gives a nice boost to your retirement planning. Catch-up contributions are also available ...
The last benefit that’s unique to an HSA, according to Kevin Shahnazari, founder of FinlyWealth, is that after age 65, HSA funds can be withdrawn for non-medical expenses — though they’re ...
Learn how contributions to your health savings account (HSA) can be tax deductible, ... Benefits During Retirement. After 65, non-medical withdrawals are not subject to a 20% penalty.
You can withdraw HSA money tax-free for any reason after turning 65 The first thing to know is that you’re allowed to withdraw money penalty-free from your HSA for any reason after 65.
DEAR ALMOST: A health savings account, or HSA, is a fantastic financial tool that can help you build up a tax-free stash of money for medical expenses now and after you retire. But to qualify, you ...
Image source: Getty Images. But many people opt to treat HSAs as retirement plans because funds in these accounts don't need to be used up by a specific deadline. You can contribute to an HSA at ...