A. Generally the answer is yes, but let's first see when HSA should not be held for long term -
HSA is only available in conjunction with high-deductible health plans, however, if you have high medical expense and would be better off with a lower-deductible plan, HSA might not be the best plan for you.
Other than the above situation, everyone should keep HSA as part of the long term retirement portfolio, which means you should pay medical expense out of your current cash flow rather than using money inside HSA to pay for it, because HSA is the only account that offers you tax-free contribution, growth, and withdrawal, making it an ideal retirement planning tool.
Even if you withdraw money from an HSA after age 65 and use it for non-medical purposes, you do NOT incur a penalty, although you do have to pay taxes.
What's the best HSA plan? We will discuss Morningstar's finding in next blogpost.