Ask Terry Questions Medicare and HSA

Medicare and HSA

By Terry Savage on March 15, 2024 | Insurance & Annuities

No more contributing to the HSA after signed up for Medicare A only but not taking it:
I will be 65 in Sept of this year and signed up with my company to contribute the maximum to my HSA. This means I will be contributing to me HSA till year end and I thought I have to sign up for Medicare A when I turn 65. Sorry for all the words, but can I hold off signing up for Medicare A till first of next year while still working.

Terry Says

Yes, you can and should wait till next year — as long as your company has more than 20 employees (plans with fewer MUST use Medicare as primary). So check with HR and see if your coverage is comparable, then hold off on signing up for any Medicare parts so you can still contribute to the HSA



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