9 thoughts on “When does Social Security or Medicare Affect HSA Participation

  1. Paul Martin

    I and my wife are currently 65. I work full time and have a high deductible health care program with my employer. We currently have an HSA account. We have not signed up for Medicare. I will probably work for my current employer until age 67 or 68. What I would like to know is if I select my social security benefit when I turn 66 can I still contribute to my HSA program as long as I or my wife sign up for medicare?

  2. rjoyner Post author

    As soon as you have medicare. You are then only allowed to use the funds from an HSA but not contribute any longer. Hope that helps.

  3. Amy Manning

    If my spouse is collecting Social Security I understand he will automatically be enrolled in Medicare A. I am not old enough for Social Security so not enrolled in any Medicare program. I am enrolled in my employer's HDHP and also have my spouse covered under the plan. I was told I could still contribute to my HSA at the maximum FAMILY rate because the account is in my name, even though my spouse is enrolled in Medicare A.

    Is this correct?

  4. Linda Stuart

    You are absolutely correct. Your ability to contribute to an HSA is not affected by your husband being on Medicare. And, since you have family coverage, you can contribute the family HSA max.

  5. Allan Owen

    I have read that Medicare Part A is retroactive for five months when you sign up. The article said that if you contribute up to the time you sign up you will owe taxes and penaltie on the previous five months. Is this accurate?

  6. Robert Furman

    I was wondering that if i start to collect SS next August at age 62 and im limited to $1460 a month income can I defer my HSA contributions til after i start getting SS will it be pretax amount or the gross amount that will count toward the 1460 limit?

  7. Robert Furman

    Does my contibution to my HSA come off the top of my wages of what I can make toward the limit of the 1260 a month in the year i retire at 62 or are they counted in the gross amount?

  8. Tim

    I want to retire in Feb. 2015. I have a HSA currently with my government employer. I'm 67 now. I went sign up for SSI/Medicare and was told that I would be taxed and a fined by the IRS for my HSA since SSI/Medicare doesn't allow an HSA and SSI/Medicare is retro 6 months. What will be the% tax and fine? Does amount in HSA get tax? Does the total contribution get tax?

    • rjoyner

      Tim this doesn't make sense to me thus I can't see who is saying this to you. An HSA should not be taxed or fined. When you come on medicare, you are no longer allowed to contribute to an HSA. But you can pull dollars from it for medical expenses without being taxed. As far as SSI goes, they have different rules and I am unfamiliar with that. I have a good friend who is an excellent attorney that can answer this for you. Todd@toddmartinglaw.com. You will most likely need to pay for his advice however. Blessings to you.



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