Tax Planning with Health Savings Accounts

Health savings accounts can provide triple tax advantages which includes a tax deduction for contributing to an HSA, tax deferred growth of the funds in the HSA, and tax-free distributions when the funds are used for qualified medical expenses. The OBBBA also made some changes to HSAs, but unfortunately not all the proposed changes made it into the final version of OBBBA. Our clients will always have medical expenses in retirement and HSAs are one of the best ways to prepare for these costs. We will review the special once-in-a-lifetime distribution from an IRA to an HSA which would convert the taxable IRA to a tax-free HSA. This is even better than a Roth conversion because there is no tax upon this rollover.

2 IRS CE/2 CTEC/2 NASBA CPE

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*Self-Study recording not available for NASBA CPE credit.

IRS Program #: 7Q3WU-T-00808-25
CTEC Course #: 6248-CE-00176