Uncertain of the best course of action for our HSA's. We are retired, 65 and 66, and don't need the money in our two separate HSAs at this time which together total about $53,000 (we do have all the receipts/proof needed, going back many years, once we do need the money). The HSA custodian requires a cash balance of $3,000 for each of the two accounts (if the cash balance is lower, a monthly maintenance fee is assessed) and we invest the remainder. We are concerned that if we both die, our children will need to submit for the full amount of the HSAs (and keep all proof in case of audit) so that they are not taxed for inheriting the balances. Because of the tax advantages of an HSA, we want to keep the HSAs going. However, is losing the interest on the $6000 ($3000 for each account) and the potential problem with the children inheriting and the paperwork they would have, enough to tell us to deplete the HSAs before we get much older? Thank you.
Statistics: Posted by Barbaralinden — Sun Feb 25, 2024 6:48 pm — Replies 4 — Views 378