Making the most of HSAs: How Health Savings Account Work When Your Retired
Health Care: Largest Cost for Retirees Health care costs can be one of the most significant expenses for retirees. With planning and resources, retirees can assure that their health care expenses are covered. Can I use my HSA when I am Retired? (1) You can use money you’ve accumulated "tax-free" in an HSA (**when HSA has been established pre-Medicare enrollment - before age 65) for eligible medical expenses at any time. (2) After age 65, you can withdraw money from an HSA "tax-deferred" as an investment (**when HSA has been established pre-Medicare enrollment) or "tax-free" to pay eligible medical expense. (Source: Can I have a health savings account and Medicare? AARP) Can I enroll in an HSA when I am enrolled in Medicare? No. Enrolled in an HSA before age 65? HSA funds to pay for qualified medical expense after age 65? Yes. What is a Health Savings Account (HSA)? An HSA is a tax-advantaged financial account wi...