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I may lose my HSA
Old 02-08-2010, 05:17 AM   #1
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I may lose my HSA

Currently on retiree medical basic plan with a high deductable and started an HSA about three years ago. New changes are coming in the retiree medical plan and a high deductable option will go away. Question is, what to do with the HSA ? I realize the tax and penality ramifications. Just wonder if anyone else has run into a similar situation and what did you do.

Thanks in advance.

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Old 02-08-2010, 05:39 AM   #2
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I haven't run into the situation you describe but I will essentially do so once I hit Medicare age. At that point it will simply become a HSA account I can no longer contribute to. I plan on leaving my account right where it is and using the funds to pay for LTC premiums and future out-of-pocket medical expenses.

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Old 02-08-2010, 08:40 AM   #3
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As REW says -- you can still use the HSA for medical expenses incurred with a non-HDHP plan (such as meeting copays and deductibles or LTC premiums), but you can no longer contribute new money to it.
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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