Anyone who owns a health savings account is probably familiar with its generous tax advantages. If you're nearing age 65, though, it's worth making sure you're aware of some key rules.

HSAs come with a triple tax benefit: Your contributions are made pre-tax, any growth is untaxed and withdrawals are tax-free as long as they are used for qualifying medical expenses . And while these accounts are more prevalent among younger generations, a growing number of people are reaching retirement with one in tow.

"More retirees are sitting on meaningful HSA balances without a clear plan for how to use them most effectively," said certified financial planner Tom Geoghegan, founder of Beacon Hill Private Wealth in Summit, New Jersey.

Assets are highest in the 60-to-64 age group

Since HSAs were

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