Ask Terry Questions Medicare, HSA

Medicare, HSA

By Terry Savage on July 31, 2024 | Insurance & Annuities

My hubby and I are working to 70. Do I need to apply for Medicare part A or can I wait till 70 second if I’m working to 70 can I keep my HSA

Terry Says

Once you sign up for Medicare, even the free Part A, you are no longer eligible to contribute to an HSA.  If you are fully covered for health insurance by your employer(s) — and in this case it depends on your INDIVIDUAL coverage — AND, if your employer does not require signup for Part A, then you can contribute to your HSA.

BUT do check that your employer does not in any way require you to sign up for any part of Medicare in order to keep your employee coverage intact.

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