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You can also save your bills and "expense" them anytime. This is great for early retirement access where you want the money but can't pull it out as standard retirement yet.
For example, let's say your thirty. You can invest your HSA dollars and let them grow tax free, while paying out of pocket for medical bills, pregnancy, dental, etc. Then 20+ years later, after your money has doubled a couple of times, you want to retire at 50. You can submit those 20 years of receipts and pull that amount from your HSA to essentially get your medical treatment for free and to help tide you over until retirement age when you can pull the rest out and get social security, etc.
But its the best retirement vehicle because of it's triple tax benefit. No (income) tax on money going into the account. No (capital gains) tax on the growth. No (income) tax on money going out of the account.
This is really helpful, thank you!!
Tax Secrets of Health Savings Accounts https://www.wsj.com/articles/hsa-taxes-health-savings-accounts-11664493292
Rising Star
HSA is for medical expenses but when you retire can be converted, essentially!
There probably is a retirement for dummies in the US book
You can carry your HSA into retirement and use it on med expenses in retirement. Retired individuals are provided with govt healthcare but usually will incur a good amount of expenses to live "comfortably."