Medical Savings Account
Can you roll an IRA into a Medical Savings Account?? I have a client that can not easily get Medical Insurance and she has an IRA that she is thinking about closing. She is under age 59.
Can you roll an IRA into a Medical Savings Account?? I have a client that can not easily get Medical Insurance and she has an IRA that she is thinking about closing. She is under age 59.
Permalink Submitted by Alan Spross on Wed, 2007-08-08 00:24
Not to an MSA, but a direct transfer can be made to an HSA from an IRA. The taxpayer must have the HDHP coverage in place, and an HSA to accept the transfer. This is sort of a gimmick in that it is one time only transfer, and can only equal the amount that could have been made in HSA contributions to begin with.