Actually, after retirement age, you don’t have to spend it on medical expenses.

May 21, 2022
12:19:59am

BYU-Ite All-American

You can pull it out and use it just like an IRA (for anything you want) and you will be taxed on the money when you pull it out, or use it for medical and it is tax free.

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BYU-Ite

Bio page: BYU-Ite
Joined: Jan 9, 2002
Last login: Nov 12, 2024
Total posts: 8,549 (19 FO)

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Messages

Author

Time

Has anyone used their HSA $ towards a mattress purchase?

Julius Pepperwood

5/20/22 10:28pm

I don’t touch my HSA. I max it out every year. It’s for retirement.

brazilcoug

5/20/22 10:29pm

So how do you get tax write offs for your health care expenses now?

BlooCoog

5/20/22 10:33pm

I know people do this. Tell me more. Because of the tax advantages?

VACougMD

5/20/22 10:35pm

Triple tax advantage, tax free in, tax free growth, tax free out*

BYUFootballisBack

5/20/22 10:48pm

And it can only be spent on medical expenses after retirement?

Leonardo

5/20/22 10:59pm

It can only be spent on medical expenses. At any time after said expenses are

SalmonOfCapistrano

5/20/22 11:10pm

Actually, after retirement age, you don’t have to spend it on medical expenses.

BYU-Ite

5/21/22 12:19am

would this really happen, though? Most people in retirement will have plenty

SalmonOfCapistrano

5/21/22 11:25am

It's 65 though so a bit higher than typical 59.5

BYUFootballisBack

5/21/22 9:16pm

Only if it's a qualified medical expense to treat a specific condition and a

BYUFootballisBack

5/20/22 10:30pm

<< Deleted >>

ochobeeguy

5/21/22 12:32am

It is but you need a prescription from a doc. Also, only the amount over what you would’ve paid normally

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