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After age of 65, the rules change for HSA withdrawals
You may be tempted to withdraw money from your health savings account for non-medical expenses before the age of 65, but you will have to pay a 20 percent penalty plus income taxes. However, after age 65, the penalty disappears, and you’ll just have to pay taxes on the withdrawal if you use the money for anything other than eligible medical expenses. Read attached “Ask Kim” column to find out more about making the most of your HSA. Click here…
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