Apr 22, 2024 | Health Savings Account
If you’re facing a significant medical expense, and you don’t have enough money in an HSA to cover it already, I’ve got good news: The law allows every American taxpayer to make a once-per-life-time tax-free transfer (or “rollover”) from an IRA to an HSA. They...
Apr 22, 2024 | Health Savings Account, Lifetime Income
Putting too much money in your HSA can happen, but the IRS isn’t happy when it happens. In fact, you’ll be penalized for it unless you catch it and fix it. Here’s how to do that. HSA Contributions Have Annual Limits For 2023, you are only allowed to deposit $3,850 in...
Apr 18, 2024 | Health Insurance, Health Sharing Programs, Heathsharing
The “Deathbed drawdown” is an important strategy to be aware of if you have a large health savings account balance towards the end of your life. There’s a lot to like about the health savings account: Pre-tax contributions, self-directed investment options,...
