Ask Terry Questions HSA penalty

HSA penalty

By Terry Savage on November 13, 2023 | Insurance & Annuities

My HSA account stays under $500. How big of a penalty would I be paying if I start a Medicare plan within 6 months of my employer stopping contributions? Thank you.

Terry Says

I’m not quite sure what you’re asking! You can use your HSA to pay Medicare Advantage premiums.
Ask your employer about the specific terms of your plan.



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finance question