Need-to-Knows About IRA-to-HSA Balance Transfers
Health Savings Accounts are popular tools for managing healthcare costs and retirement planning. HSA account owners can access their HSA balances tax-free to pay eligible healthcare expenses and invest for growth over time. Did you know that if you have an IRA, you can make a one-time funds transfer into your HSA account? Doing so gives you the “triple-tax advantage” on the transferred funds, but there are a few things to consider. What is an