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IRA rolloverJW Player
•Business
Business & Economics
55% Informative
Not very many people know that you can convert your IRA to an HSA .
You can only do it once in your lifetime.
There are lots of rules and requirements that we need to think about first .
If you fund your HSA via IRA rollover, you don't get a tax deduction.
But the benefit is once the money is in the HSA now it can grow tax free if you use it later in retirement.
If you don't have any other cash to fund an HSA , you do have IRA assets to fund it.
You can take advantage of this kind of once in a lifetime opportunity to tuck a few $1000 over.
It's not a very well known or, or commonly utilized thing, but it is an option.
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