A health savings account (an HSA) is a form of tax-advantaged retirement account designed for healthcare spending. You can make contributions to your account at any time so long as you aren’t enrolled in Medicare. During any period when you are enrolled in Medicare, you cannot make contributions to a qualified HSA. If you have other questions about retirement savings and healthcare, it may be a good idea to talk to a financial professional who can help you plan. A financial advisor can play such a role, and SmartAsset’s free advisor matching tool can match you with advisors that serve your area.
What Is an HSA?
A health savings account (HSA) is a tax-advantaged retirement account that shares features of both a 401(k), an IRA and a Roth IRA. Like a 401(k) and IRA, the money that you contribute to a HSA is fully tax deductible. You don’t pay…
