Can I Contribute to a HSA After Age 65 if My Spouse is on Medicare?

As you approach the age of 65, you may have questions about your ability to contribute to a Health Savings Account (HSA) if your spouse is on Medicare. The good news is that even after you turn 65 and qualify for Medicare, you can still contribute to your HSA if certain conditions are met.

Here are some key points to consider:

• If you are enrolled in Medicare, you are no longer eligible to contribute to an HSA.
• If you are 65 or older but not enrolled in Medicare and your spouse is also 65 or older and on Medicare, you can still contribute to your HSA.
• However, the maximum contribution amount may be different for individuals over the age of 55.
• If you are over 55, you may be eligible to make an additional catch-up contribution to your HSA.
• It is important to consult with a tax advisor or financial planner to determine your eligibility and contribution limits based on your specific circumstances.

If you're approaching 65 and your spouse is on Medicare, understanding your contribution options for your Health Savings Account (HSA) can be crucial. It's essential to know that as long as you are not enrolled in Medicare yourself, you retain the ability to contribute to your HSA, even if your spouse is. This can provide valuable savings for future medical expenses.