What Happens to Your HSA When You Turn 26? Find Out Here!

Turning 26 is a significant milestone in life, often marking the transition to greater independence. However, if you have a Health Savings Account (HSA), you may wonder what happens to it when you reach this age.

Many people are not aware of the impact turning 26 can have on their HSA, so let's dive into this topic to provide you with the information you need.

Does Your HSA Go Away When You Turn 26?

The short answer is no, your HSA does not simply disappear when you turn 26. The account remains yours, and you can continue to use it for qualified medical expenses.

However, there are some key changes to be aware of as you reach this age:

• Being covered by a High Deductible Health Plan (HDHP): To contribute to an HSA, you must be covered by an HDHP. Turning 26 might affect your health insurance coverage, which, in turn, impacts your HSA eligibility.
• Contributions: If you are no longer eligible to contribute to an HSA due to changes in your insurance coverage, you can still use the funds already in the account for eligible expenses.

As you navigate this transition, it's essential to understand how turning 26 might influence your HSA and healthcare options.

Reaching the age of 26 is a pivotal moment in your life, often representing new beginnings, such as finishing college or starting a career. If you have an HSA, it’s important to understand how this milestone affects your accounts.

One of the most common misconceptions is that your HSA is no longer valid once you age out of your parents' health plan. Thankfully, that’s not the case!