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Health savings accounts and Medicare

Can individuals contribute to an HSA after age 65 and receive the same benefits?

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Can individuals contribute to an HSA after age 65 and receive the same benefits? (Photo: Shutterstock)

As I travel the country speaking about health savings accounts (HSAs), I’m being asked more in-depth questions from financial services personnel on how consumers can benefit from HSAs.

Many immediately discuss the triple tax benefit of HSAs: tax-deferred contributions, tax-exempt distributions for qualified expenses, and penalty-free distributions for nonqualified expenses beginning at age 65.

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