A Health Savings Account (HSA) is the only account with a triple tax benefit: contributions are pre-tax, growth is tax-free, and withdrawals for medical expenses are tax-free. After age 65, it functions like a traditional IRA.
Anyone with a qualifying high-deductible health plan (HDHP). Widely considered the best retirement account most people underutilize.
Confirm you have a qualifying high-deductible health plan for the current year.
Open an HSA through your employer or a provider offering investment options.
Contribute up to the annual IRS limit.
Invest the funds in index funds inside the HSA — never leave them in cash.
Pay medical expenses out-of-pocket now, save every receipt, and reimburse yourself from the HSA later — there is no time limit on reimbursement.