Health Savings Accounts - Purchase Metals with Your Tax Advantaged HSA
A Health Savings Account (HSA) is a tax-advantaged savings account for current and/or future medical expenses. Unlike a flex spending account, An HSA is not "use it or lose it". Funds accumulate in your HSA via contributions and investment growth until you need them. HSAs allow you to accumulate funds for qualified medical expenses (QMEs) that almost everyone encounters eventually. The list of QMEs is very comprehensive and includes your out of pocket deductibles. You can grow your account with the same diversified assets available to your IRA, including certain Platinum, Gold and Silver, and NEVER PAY TAXES amounts contributed, growth, and distributions when used for qualified health expenses.
As with a Traditional IRA, up to your full HSA contribution amount may be deducted from your income for tax purposes. You must be enrolled in a high-deductible health plan (HDHP) to make HSA contributions.
As with a Roth IRA, distributions can be completely tax-free. To qualify, HSA withdrawals must cover QMEs or reimburse you for a QME you personally covered at a prior time.
Investors can purchase metals with the funds in the HSA while waiting for the age when medical expenses are more likely. The account holder manages their HSA investment directly with the dealer or platform of their choosing, such as BullionVault. All metals available on the BullionVault platform, Gold, Silver, Platinum, qualify for HSA ownership. The IRS requires that the metal be stored with a 3rd party Depository, which BullionVault also provides in depositories located in London, New York, Zurich, Singapore or Toronto.
Precious Metals Investing Guide
- Diversity to your retirement portfolio.
- Combine your retirement account tax advantages with gold, silver, or platinum.
- Put your knowledge and experience in precious metals to work for the benefit of your IRA’s growth.
Most people simply don’t know that this investment is allowable with your IRA. Download our free guide and get the facts.