Age For Health Savings Account (HSA) Age?
Wave R. asked:
I have read that individuals who are 65 and older are not able to open a Health Savings Account (HSA). What happens if you are enrolled in an HSA when you are younger, and eventually reach 65 years old? Must you forfeit your HSA? Do you have to chance Health insurance plans?
Irvin Sins
I have read that individuals who are 65 and older are not able to open a Health Savings Account (HSA). What happens if you are enrolled in an HSA when you are younger, and eventually reach 65 years old? Must you forfeit your HSA? Do you have to chance Health insurance plans?
Irvin Sins
You can’t add to an HSA after you turn 65. If you have one from before it can sit there and be used for post retirement medical expenses.