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.
These are key points and should continue to be discussed, but the discussion should be expanded upon by asking, "Can individuals still contribute to an HSA after age 65 and receive the same benefits?"
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