The HSA: The Most Overlooked Account in Personal Finance

Every other major savings account picks one tax benefit. The HSA gives you all three simultaneously:

The bottom line

After age 65, you can withdraw for any purpose and pay regular income tax - making it function identically to a traditional IRA as a backstop.

To contribute, you must be enrolled in a qualifying High Deductible Health Plan (HDHP).

• Self-only HDHP coverage: $4,400
• Family HDHP coverage: $8,750
• Age 55+ catch-up: $1,000 additional
• Cannot contribute once enrolled in Medicare (typically at 65)

Most HSA holders use it like a medical checking account. Another approach - sometimes called the stealth IRA - works differently.

A $400 dental bill from 2026, reimbursed in 2046, means that $400 compounded tax-free for 20 years before coming back to you.

The bottom line

Save receipts. Invest the balance. The HSA reimburses whenever you choose - there's no deadline.