Can I Have an HSA After 65? Exploring HSA Eligibility Criteria for Seniors

As you approach retirement age, you may be wondering if you can still have a Health Savings Account (HSA) after turning 65. The good news is that you can indeed keep your HSA even after reaching this milestone birthday. However, there are some important things to consider regarding HSA eligibility criteria for seniors.

One of the key factors to keep in mind is that while anyone can contribute to an HSA up until they enroll in Medicare, once you are enrolled in Medicare, you can no longer contribute to your HSA. This means that if you want to continue funding your HSA after 65, you should delay enrolling in Medicare.

Another important point to note is that even though you can't contribute to your HSA once you're on Medicare, you can still use the funds in your account tax-free for qualified medical expenses. This makes an HSA a valuable tool for covering healthcare costs in retirement.

As you approach retirement age, you might be asking yourself if an HSA can still be an integral part of your financial planning beyond age 65. The good news is, yes, you can absolutely retain your Health Savings Account (HSA) after you turn 65!