7 Ways an HSA Can Help You Cover Healthcare Costs in Retirement

Saving in a health savings account (HSA) could be one of the best retirement planning decisions you make thanks to its unique triple tax advantage. Contributions to your HSA reduce your taxable income for the year, your earnings are tax-deferred, and medical withdrawals are tax-free at any age.You can also use your HSA for non-medical expenses, but there's a 20% penalty if you're under 65. Even if you're over this age, you'll come out ahead if you restrict yourself to health-related HSA withdrawals. In the government's eyes, that covers a broader range of services than you might think, including the following seven things.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool