The IRS Deductions Blog

Posts Tagged ‘high deductible hsa plan’

Question: Can a TSA be rolled into a high-deductible HSA like BCBS BlueEdge HSA? Are there any penalties-what and how $?

I have a TSA from work that my employer no longer supports. It has been sitting in-limbo for about a year as I can no longer easily add money to it. My employer is offering a high-deductible HSA as a health insurance option and if allowable I would like to roll all or at least part of the TSA money into the HSA. I have approx. $11,000 in what I think is a Hartford 403(b). I have to let my employer know if I want to switch to the HSA by Dec. 16th, so I kinda need to know most of the answers before then. If I can’t roll the TSA over, I don’t know that I am as interested in the HSA? I am also a little leary about making a change with our idiot Congress screwing with health care. Is there any reason I should wait? Any help with my questions would be greatly appreciated.

Answer: A TSA (transportation spending account???) cannot be rolled into an HSA.

Only an IRA is eligible.

Items on Amazon Right Now for High Deductible Hsa:

PayFlex® Receives IRS Approval as a Non-Bank Custodian for its HSA Solution

PayFlex Systems USA, Inc., a leading technology enabled solutions provider for employee benefit programs, today announced that it has been approved by the Internal Revenue Service to serve as a non-bank custodian and trustee for Health Savings Accounts and other accounts which are required to be held only by IRS-approved custodians.

High Deductible Health Insurance and Health Savings Accounts Explanation

Question: I already have a Blue Advantage health care plan from Blue Cross Blue Shield of NC, how can I open a HSA?

My wife and I are interested in opening a health savings account in conjunction with our Blue advantage high deductible plan. I was told at signup that this was included, but cannot find information anywhere. Does anyone know how I can sign up for a HSA?

Answer: You have to sign up separately for the actual HSA. It’s offered by most banks and investment companies.

I opened my HSA about 4-years ago. At that time, my broker found a low-cost HSA through American Chartered Bank in IL. When I set it up there was only a $10 fee.

http://www.americanchartered.com/

You don’t have to be anywhere near the bank. I’m in Calif and do all my transactions via snail male.

Items on Amazon Right Now for High Deductible Hsa Plan:

Ditching Traditional Health Insurance for a Health Savings Account Plan [Healthcare]

# healthcare If you’re fed up with your health care provider and think you could manage your medical bills better yourself, a health savings account might be a better option for you and your family. More »

High Deductible Health Plan (HDHP) + Aggregate Wrap Stop Loss Insurance