Transfer money from IRA to HSA

 

A loyal GubMints reader writes:

I’m currently serving in the National Guard.

I use TRS as our only insurance for myself and my family.  I serve in the Air National Guard, but I have an FSA available through my civilian employer.  I was wondering if I can contribute to and use an FSA to pay for my TRS premium, and any other health care related expenses?  

Can you contribute to either a Health Savings Account or Health Care Flexible Spending Account with your company while your primary insurance is Tricare Reserve Select?

I believe the answer is no to the HSA, and yes to a FSA, but I am having a hard time clarifying that research. 

Thanks!

Thanks for your service, and thanks for reading!

For my answer, I am assuming you and your dependents are all on the same medical plan and you are not split between your self ‘solo’ on TriCare with your dependents enrolled on another health plan. Continue reading


 

lucy_pulls_football

A loyal GubMints reader writes:

Eddie,
First off, thanks for such an informative website.  I am … in a VTU, and I have 2 more years left…, the local NOSC seems like they want more and more from us.  I am leaning towards the IRR, but I also want to make sure that can actually be feasible with just doing correspondence courses.  I, like yourself, am way too close to lose my retirement now.  What are the major issues that you have faced in the IRR with these courses?

Thanks for reading!  It’s not easy keeping up with the Navy’s IRR Regulations.

Here’s this years’  Navy IRR Survival Guide. Continue reading


DigitalPiggyBank

As I’ve written many a time before, GubMints is a big fan of the Thrift Savings Plan (TSP).

Recently the White House Social and Behavioral Sciences Team decided to get ‘Freaky’ with Behavioral Economics and do some experiments to encourage more Active Duty Servicemembers to enroll or re-enroll in the TSP.  They did some interesting experiments to try and ‘move the needle’. Continue reading


 

Soup-Nazi

The Benevolent Savant Soup Chef thinks it is too easy to earn IRR points…

Recently I caught wind of the below message from Commander, Navy Reserve Force (CONAVRESFOR) (H/T to the AirWarriors Forum).

To summarize: Big Navy and/or Big Navy Reserve initiate this Goat Rodeo every few years or so when they decide that it is too easy for Navy Individual Ready Reservists (IRR) to earn retirement credit points through correspondence courses.  I recall a major Kaibosh put on NKO courses about 5 or 6 years ago, which created a similar panic through the IRR. Continue reading