HSAs require enrollment in a high-deductible health plan, suitable for healthy individuals.
After 65, you can use your HSA money to cover any expense without incurring a penalty, but the funds are subject to income tax.
"I decided to get a high deductible health plan because I was young, healthy, and I didn't expect my medical expenses to be too high," she said.
Brent Weiss, a certified financial planner, told BI that he invests his HSA money in a target-date fund: "I'm not getting fancy.
Not touching your HSA funds means covering your medical expenses out of pocket, which is what Grant and the Schlagbaums do.
Persons:
—, Amberly Grant, Grant, she's maxed, Brennan, Erin Schlagbaum, HSAs, it's, it'll, Brent Weiss, I'm, you've
Organizations:
Service, IRA, IRS