Can I Contribute to an HSA if My Spouse is on Medicare?

If your spouse is on Medicare, you may still be eligible to contribute to a Health Savings Account (HSA) provided you meet certain criteria.

HSAs offer individuals the opportunity to save money for medical expenses tax-free. Here's what you need to know:

• HSAs are available to individuals who are covered under a high-deductible health plan (HDHP).
• If your spouse is on Medicare, you are still eligible to contribute to an HSA as long as you are not enrolled in Medicare yourself.
• If you are enrolled in any other non-HDHP health coverage, you may not be eligible to contribute to an HSA.
• However, you can still use the funds in the HSA to pay for qualified medical expenses for yourself, your spouse, and any dependents.
• Contributions to an HSA are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses.
• It's important to consult with a financial advisor or tax professional to understand the specific rules and regulations regarding HSA contributions.

Health Savings Accounts (HSAs) are essential for anyone looking to manage healthcare costs efficiently. You might be wondering if you can still contribute to your HSA while your spouse is on Medicare. The answer is yes, you can!