Health Savings Account

Mountain West IRA – Health Savings Accounts

Health Savings Account (HSA)

How to Open a Self-Directed Health Savings Account (HSA)
What is a Health Savings Account (HSA)?

A Mountain West IRA self-directed Health Savings Account (HSA) combines high deductible health insurance with a tax-favored savings account. Contributions to the HSA are 100% deductible, just like a traditional IRA. Unlike a traditional IRA, distributions used to pay qualified medical expenses can be taken tax-free at any time. All other assets left in the account remain tax-deferred.

Who Can Have a Health Savings Account (HSA)?
  • Covered by qualified high deductible health insurance plan (HDHP).
  • Not covered by other health insurance.
  • Not enrolled in Medicare.
  • Not another person’s dependent.

Health Savings Account Contribution Limits

Contribution Limit 55+ Catch up Contribution
Single $1,350 $6,750 $3,500 $1,000
Family $2,700 $13,500 $7,000 $1,000

Self-Directed IRA Education

2019 Contribution Limits
Webinar Information

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2018 Contribution Limits
Self-Directed IRA Investment Process