Advantages to Opening an HSA if Retired?

Rrr

New Member
2
Hi,
I'm retired, 59 years old. I don't have an HSA, but I'm wondering if there are any advantages to opening one at this point. Since I have no earned income, I presume that this means that I can't get a pre-tax tax exemption for money that's placed into an HSA at this point. To fund the HSA, I'd have to move money from an existing account, but makes no sense to me since there is no tax savings if I do this. Am I missing something?
Are there any reasons for me to open an HSA at this point?

thanks
 
If over 59 half, how bout a tax free and penalty IRA HSA conversion, distribution and contribution strategy? Booyah

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Qualified age and health plan required
 
You do not need earned income to take the HSA deduction. It is a reduction to any taxable income including interest income. The health plan needs to be HSA eligible.

This I did not know. I thought it had to be from earned income like an IRA or 401. Now it's sounding interesting ;)

I'll look more into this... thanks!

And, yes, I have an HSA approved health plan.
 
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