“How HSA savings can be used for long-term care in retirement,” by Steve Christenson, Employee Benefit News
“The cost of healthcare for a married couple during retirement is estimated to range from $250,000 to $400,000. HSA owners can use their HSA savings for qualified medical expenses at any age, but let’s consider a few ways to use these assets in retirement (after turning age 65) and how they are taxed. … Here are a few services that can be paid with HSA savings.
- Payments for in-patient hospital care
- Payments for residential nursing home care for medical reasons (If the main reason for this type of care is not medical, then only the medical expenses are qualified)
- In-home nursing services connected with patient care”
LTC Comment (from Stephen A. Moses, Administrative Coordinator, Center for Long-Term Care Reform):
Click through to the article for the restrictions and caveats.
How HSA savings can be used for long-term care in retirement
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#goldencareagent
