Mountain West IRA – Health Savings Accounts
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 an 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
2018 Contribution Limit:
|Contribution Limit||55+ Catch up Contribution|