Once money has been deposited into your health savings account, it is yours to do with as you please, as long as the money is not used for unqualified expenses. Even if you terminate your high deductible health plan for some reason, the money that is in your HSA will still belong to you. Once you reach age 65, you can withdraw the money tax-free and use it for any purpose, medical or otherwise, without being subject to a 10% penalty. Keeping health savings accounts for long periods of time without using them can work to your advantage. As long as the money sits in your HSA, it continues to earn interest and rolls over automatically each year. If you die before using the money in your HSA, the account will go to your spouse who can use it as if it were his or her own HSA. In the event that you do not have a spouse, the account ceases to be treated as an HSA and the money passes on to your beneficiary or is included in your estate.
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