Can I Use My HSA Account After Age 65?

Are you wondering about the flexibility of your HSA account as you approach retirement age? Let's dive into whether you can use your HSA account after age 65.

Once you turn 65, you can continue to use your HSA account for eligible healthcare expenses. However, there are some key points to keep in mind:

• Even after age 65, you can still use your HSA funds tax-free for qualified medical expenses.
• If you use HSA funds for non-medical expenses after age 65, the funds will be treated as taxable income, similar to a traditional IRA.
• You can use your HSA funds for Medicare premiums or long-term care insurance premiums, making it a valuable resource in retirement.

It's crucial to understand the rules and benefits of utilizing your HSA account after age 65 to make the most of this savings tool.

As you turn 65, it's good to know that your HSA account remains a viable option for managing your healthcare costs.