mountain west ira

Health Savings Account (HSA)

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

We have step-by-step directions HERE.
You may also view our Process Diagram HERE.
If you have any questions, please contact our office HERE.

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.