Health savings account | Ed Slott and Company, LLC

Health savings account

Health Savings Accounts and The Year-of-Death RMD: Today's Slott Report Mailbag

Question: Hi Mr. Slott: I enjoy your website's very helpful information! I know that the IRS rules limit us to one indirect (60-day) IRA rollover every 12-month period. Are Health Savings Account (HSA) indirect rollovers counted as one of these rollovers, or are the IRA and HSA once-per-12-month rules separate?

5 HSA Benefits That May Surprise You

You may be familiar with Health Savings Accounts (HSAs). These accounts have been around now for a while. They work with high deductible health insurance and are known for their triple tax benefits. Contributions can be deducted. Earnings are tax deferred while in the HSA account and, if HSA funds are used for qualified medical expenses, both contributions and earnings are tax-free when distributed. While you may know the basics, here are 5 HSA benefits that may surprise you:

Want to Fund Your HSA with Your IRA? Here's How

Did you know that you can use your IRA to fund your Health Savings Account (HSA)? You may be able to take advantage of a little known part of the tax code that allows a transaction called a Qualified HSA Funding Distribution (QHFD). Here's how.

HSA Rules Get Tricky Once You Hit Age 65

An HSA has been described as offering triple tax benefits. One, contributions are deductible. Two, there is no taxation on funds while they are in the HSA and, three, distributions taken for qualified medical expenses are tax-free. Not a bad deal! When you reach age 65, however, there are some important changes in store for your HSA.

How You Can Utilize an HSA Now to Save For Retirement

You may be familiar with Health Savings Accounts (HSAs). You probably know that these tax-advantaged accounts can be used to pay for medical expenses. However, you may not be aware that these accounts can be valuable retirement savings tools.

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