Some form of government/universal/socialized/whatever health care system in the US is starting to seem more likely and even possible. Probably not in the next few years, but perhaps in the next decade. Avoiding debate on why and how, I'd like some thoughts on simply how this might affect HSA accounts. I just started, but maxing out and in few years will have almost $50k there, and just up from there. But how much does one need? And especially if in ~10 years health care is "free"? I keep receipts, but that'll only be a few thousand, even after many years. What would you then use $50-100k, 200k+ in an HSA for? Just let it sit until you're 65+? Is it likely there there would still be expenses you could use this money for even under such a system?
At 65+ am I right that you can then use it as a roth IRA? I.e. tax free withdrawals? (or is it taxed?). [edit: ok, regular IRA. got it]. I guess that would still make it a decent account even if you can't contribute more to it. Although if HSAs are shut down, and zero new customers, what company would administer them for the next 30 years..?
There's also the issue of what the government will do with HSAs if they do implement single-payer. Hopefully they'll let the rule remain the same and still allow us regular IRA-type withdrawals. But so few have them, still fewer actually have money in them, so it seems the least "lobby-proof" off all savings accounts.. If income tax on withdrawals are implemented it would still be a nice account. Anything short of a punitive tax seems to make the HSA still a really attractive savings vehicle at the moment.