How does one plan for retirement health expenses on a tax-free or deferred basis while still an employee with 10 years until retirement?
I am currently covered by my employer health plan and contribute to an FSA for annual expenses. My income is $150k. I seek to stash away money (and deduct it from my income, if possible) now to support higher anticipated health care expenses in retirement. My goal is to have separate retirement and health accounts. In other words, I don't want to rely on 401(k) or annuity payouts to pay for healthcare.
My employer does not offer health care benefits to retirees. My etirement age goal is 60 years old. I am currently 50 years old. I do not think I am eligible to contribute to a HSA but would like confirmation on that please. Thank you. Norm Davis