What to Do with My HSA Account Without a High Deductible Plan?

If you have an HSA account but do not have a high deductible plan, there are still several ways to make the most of your account:

1. Use it as a retirement savings tool by contributing to your HSA account and letting the funds grow tax-free.

2. Pay for qualified medical expenses out of pocket and save your receipts for future reimbursement when you do have a high deductible plan.

3. Explore if you are eligible to switch to a high deductible health plan to fully utilize your HSA account benefits.

4. Avoid non-medical withdrawals to prevent penalties.

5. Keep track of changes in your health insurance options to leverage the benefits of an HSA account when applicable.

Even if you don't have a high deductible plan, your HSA can still be a valuable asset. Contributing regularly can help you build a significant nest egg for future healthcare needs or retirement.