Idaho medical savings accounts are a good idea for anyone who files an Idaho tax return.
MSA saves you money by reducing your Idaho state taxable income equal to the money you spend on medical
expenses : health insurance, Medicare and LTC premiums, doctor bills, surgery and hospital expenses,
hospital, medical supplies, dental and vision costs, eye prescriptions.
IRS_Publication_502 Learn more here.
$10,000 per year person max contribution.
At age 59 1/2, the 10% penalty on a NON qualified expense is no longer applicable. FYI Though the money can be spent on anything without penalty at this point, regular tax will be applied to any NON medical expenditure.