Can I Have an HSA with Medicare? Exploring HSA Eligibility with Medicare

Are you wondering if you can have an HSA with Medicare? Let's dive into the details and explore HSA eligibility when you have Medicare coverage.

Health Savings Accounts (HSAs) are a valuable tool for managing healthcare expenses while enjoying tax benefits. But what happens if you are enrolled in Medicare?

Here's what you need to know:

• If you are enrolled in Medicare (Part A, Part B, or both), you are not eligible to contribute to an HSA.
• However, if you have a High Deductible Health Plan (HDHP) that is not linked to Medicare, you can still have an HSA.
• If you are approaching Medicare eligibility age, you may want to max out your HSA contributions before enrolling in Medicare.

It's essential to understand the rules and limitations around HSAs and Medicare to make informed decisions about your healthcare options.

Are you approaching retirement and wondering about your options with Medicare? If you're thinking about opening an HSA, here's what you should consider regarding HSA eligibility with Medicare coverage.