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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.
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that’s unique to an HSA, according to Kevin Shahnazari, founder of FinlyWealth, is that after age 65, HSA funds can be withdrawn for non-medical expenses — though they’re ...
Here’s how your HSA can give your retirement savings a boost. ... similar to traditional options like 401(k) ... the 20 percent penalty for non-medical expenses does not apply after age 65.
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...
While health savings accounts can be rolled over from fund to fund, a health savings account cannot be rolled into an Individual Retirement Account or a 401(k) retirement plan, and funds from such investment vehicles cannot be rolled into health savings account, except for the one-time Individual Retirement Account transfer mentioned earlier ...
You cannot make contributions past age 65, so you’ll want to sock as much savings as you can into your HSA before you reach retirement. And, if you’re already in your 40s or 50s, it’s still ...