Why should I open an HSA?
HSAs offer triple tax advantages and can be used as a long-term tool for savings. Your balance will roll over each year, so it’s yours (not your employer’s!) to take through job changes, life changes, and retirement.
Then, at age 65, you’ll be able to use the funds you’ve saved in your HSA for both qualified and nonqualified expenses. The nonqualified expenses will be taxed, but you won’t receive the 20% penalty that’s incurred before the age of 65.