Dear Liz: I use Medicare, but I also have a health savings account with a fair market value of over $9,000.
Can I spend this on prescriptions, eye care, etc.? I hate wasting this money.
My wife passed away and it sat there for a while.
answer: You can't contribute to HSAs after using Medicare, but you can definitely spend the money you've accumulated.
As mentioned in the previous column, the HSA is triple tax credit where contributions are deductible, accounts increase tax deferral increases, taxes increase due to qualifying medical expenses, and taxes repeat taxes. Provides. These costs include not only Medicare Premium, but dental and vision costs.
If someone other than your spouse inherits the account, the HSA is taxable and you will definitely spend that money whenever possible.
Liz Weston, a certified financial planner, is a personal finance columnist Nald Warett. Questions are: 3940 Laurel Canyon, No. You can submit it on 238, Studio City, CA 91604 or use the Contact form. AskLizWeston.com.
