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Open an IRA or Roth in your wife's name then you can contribute $3000 or whatever to each account per year. The MSA that was mentioned, the contributions are also tax deferred which you can contribute in addition to IRAs. If you draw the money out of the MSA to use for medical expenses you do not pay income tax on that amount. If you use the money for anything else you pay income tax. Or you leave it in the account like an IRA.
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