The Benefits and Limitations of Health Savings Accounts (HSAs) as a Retirement Resource



Health Savings Accounts (HSAs) are becoming more popular as a retirement resource for individuals looking to save for healthcare expenses in their golden years. This tax-advantaged savings account allows individuals to contribute pre-tax dollars towards healthcare expenses, which can be used not only for immediate medical needs but also for future healthcare costs.​ In this article, we will explore the benefits and limitations of HSAs as a retirement resource.

What is a Health Savings Account?​

A Health Savings Account is a tax-advantaged savings account that allows individuals to save money for medical expenses.​ To be eligible for an HSA, individuals must have a High Deductible Health Plan (HDHP) and cannot be enrolled in Medicare.​ Contributions to an HSA are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses.​

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