At What Age can Contributions No Longer be Made to HSA?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. However, there are certain rules and limitations regarding contributions to an HSA, including age restrictions.

So, at what age can contributions no longer be made to an HSA?

Contributions to an HSA can no longer be made once the account holder reaches the age of 65 and enrolls in Medicare. At this point, you can no longer contribute to your HSA, but you can still use the funds for qualified medical expenses tax-free.

Health Savings Accounts (HSAs) not only provide a fantastic way to save for medical expenses but also offer impressive tax advantages. Understanding the contribution rules, especially related to age, is crucial for maximizing your savings.

So, at what age can contributions no longer be made to an HSA? The answer is that once you turn 65 and enroll in Medicare, you can no longer contribute to your HSA. However, don’t worry; your money remains yours to spend tax-free on qualified medical expenses.