MSU Extension: An MSA Can Be a Holiday Gift

This is one in a series of estate and legacy planning articles. Authors are Kaleena Miller, Madison-Jefferson County Extension Agent, kaleena.miller1@montana.edu and Marsha Goetting, MSU Extension Family Economics Specialist, marsha.goetting@montana.edu.

According to Marsha Goetting, MSU Extension family economics specialist, Montanans can make a gift to themselves and open a Medical Care Savings Account (MSA) or make deposits into existing MSAs before Dec. 31 and reduce their state income taxes for 2024.

MSA account holders may deposit up to $4,500 for eligible medical and long-term healthcar...