Why It's Important to Have an HSA if You Retire Before 65
Medicare is the United States' health insurance program for people age 65 or older (with some exceptions for those with permanent kidney failure and other disabilities). During your working years, you and your employer each pay a 1.45% Medicare tax on all earnings, and once you turn age 65, you can begin reaping the benefits by having the program help with medical expenses. Medicare won't cover all medical expenses or most long-term care, but it will provide some financial assistance nonetheless.
There's a chance, however, that someone retires before age 65 and at that time is no longer eligible for the health insurance plan offered by their previous employer -- but neither are they eligible for Medicare yet, leaving them with a coverage gap. Or, they're able to get insurance but can't afford a plan comprehensive enough to cover their needs. Whatever the case, it's important to have additional income sources to help cover healthcare costs.
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Source Fool.com