Friday, March 14, 2008

Senior HSA

Much has been written about the HSA, but there is a mostly overlooked benefit that needs to be stressed.

The money in your HSA can not only be used to pay CURRENT medical expenses, but also for those incurred after you turn age 65.

According to Fidelity Investments, "the average 65-year-old couple retiring this year will need about $225,000 just to cover their medical expenses once they stop working."

Where can they get that money?

How about from excess contributions (over and above current medical needs) to their HSA?

What a novel idea.

(Warning. Shameless self promotion follows.)

You can learn more about HSA's and other "Bare Bones" plans by visiting this site. Interested readers may also want to read an interview conducted by Golden Rule about agents who promote the HSA concept.
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