Ask Terry Questions Medicare and HSA

Medicare and HSA

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

Heard you on John Williams show and stated to sign up for Medicare by age 65. I was 65 March 2023. I work full time and great insurance for health, dental, eye, prescriptions. Should I still sign up for Medicare? Please explain. I assume I don’t need the other options at this time. You also mentioned if you sign up for Medicare to not pay into a HSA. I pay into a FSA so would I still pay FSA if I have Medicare.
Thanks for your help.

Terry Says

I said to sign up for Medicare Part A! That part is free, and some employers require that you do so. Check with your HR department.
You are correct that you cannot sign up for Part B and still contribute to an HSA. But you don’t need Part B if you get great insurance at work, so don’t sign up until you retire. And in the meantime, keep making those HSA contributions.



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