Health Savings Account
I am retired and on Medicare. I have a Health Savings Account with a balance in excess of $20,000. It is currently in a HSA regular savings at a bank. Will transferring it to another investment be complicated and what are my options? Thank you.
Terry Says
Transferring a Health Savings Account (a tax-preferred account that can be used to pay qualified medical expenses) is a process similar to doing an IRA rollover. The money should be moved directly to a new custodian. REad this article from Fidelity about the process:
https://www.fidelity.com/learning-center/smart-money/hsa-rollover
