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By Ryan Kennelly

February 12, 2017

Topics:

  • HSA Plans
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My husband has an HSA account and turning 65 this year. I am 68. We are divorcing and agreed I can have half of the account. I’m not allowed to create an HSA account because I’m eligible for Medicare (but not enrolled). Can I roll half over into an IRA?

February 12, 2017

  • HSA Plans

You are allowed a one-time HSA to IRA transfer but if you use the funds for ordinary, non-medical retirement expenses after age 65, they’ll be taxed at the same rate as IRA withdrawals.

If you are a custodian on your husband’s HSA account, ask the bank if they can give you an HSA debit card with a limit of the amount you have agreed upon and use it for qualified HSA expenses. This would provide you with the most benefit.

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