First, you must have a health insurance policy that is HSA eligible. You can only transfer money from your IRA to your HSA once during your lifetime and it is limited to the yearly maximum HSA contribution less any contributions you had already made for that year. Remember, even though you have until April of the following year to contribute to your HSA account for the current tax year, an IRA rollover counts for the calendar year when the rollover is made.

For more information read, “Be sure you know the rules for IRA to HSA rollovers.”