State Savings Bank

Online Banking Customers: Check your e-mail for a message from sent 8-24-22 to all online banking
customers regarding a
major change coming Oct. 24. If you did not receive an e-mail, click here to learn more .

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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