State Savings Bank

What Happens to my HSA if I Enroll in Medicare or Turn 65?

Once you enroll in Medicare, you are no longer eligible to further contribute to your HSA effective the month you enroll. You may continue to use your accumulated funds for out-of pocket medical expenses. At age 65, you may use your funds for any purpose without penalty but you will have to pay taxes on any distribution not used for medical purposes.

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