HSA Questions (relating to spouse over 55, separate accounts)
I have an HSA account in my name through HSA Bank and roll almost all the money into a TD Ameritrade account, where it is invested. I have never made a withdrawal.
My wife turned 55 last year (I'm a few years behind her). As near as I can tell, we can't make the extra $1,000 deposit into my HSA account since I'm not 55, and joint HSA accounts don't exist. So, she would have to open one of her own. The savings in taxes net of fees would be about $175 for each $1,000 I put in.
Since the amounts would be small ($1,000 for 2013, $1,000 for 2014, then $1,000 every year after), I wouldn't plan to open a TD Ameritrade account. I'm thinking instead I would just withdraw the money. Do I need to have expenses after the date of the new HSA account to avoid a problem with the IRS or can I go back to the time when we first had a HDHP? Since we've had one for several years, and never made a withdrawal, there would be plenty of room for withdrawals.
Would appreciate any thoughts.