HSA uses for Medicare
Your article in chicago tribune about retiree medical costs on 1/23 said that HSA could be used to cover medicare supplements is incorrect I believe. Did you mean it could pay for medicare part B premium?
Terry Says
Sorry if that was misleading. Here is the actual list of what HSA funds can be used for —
Once enrolled in Medicare, an individual can no longer contribute to a Health Savings Account (HSA). However, a Medicare beneficiary can use HSA distributions to pay for qualified medical expenses, such as premiums for Part B, a Medicare Advantage plan (Part C), a prescription drug plan (Part D), and long-term care insurance, and Medicare expenses, such as copayments and deductibles.
But, while you can use HSA distributions to pay Medicare premiums, these funds cannot pay premiums for Medicare supplemental policies, also known as Medigap policies.
