Can You Be Retired and Still Contribute to HSA?

Many people wonder if they can continue contributing to their Health Savings Account (HSA) after retirement. The good news is, yes, you can still contribute to your HSA even after you retire as long as you meet certain criteria.

Retirement doesn't disqualify you from contributing to your HSA, but there are a few things to keep in mind:

• You must be enrolled in a High Deductible Health Plan (HDHP) to be eligible for an HSA.
• You cannot contribute to your HSA if you are enrolled in Medicare, but if you are only enrolled in Medicare Part A or Part B, you may still contribute.
• If you are over 65 and not enrolled in Medicare, you can continue contributing to your HSA as long as you meet the eligibility requirements.
• If you have retiree health benefits through your former employer, you may want to check with them to see how it affects your HSA contributions.

Being retired doesn't mean you have to stop saving for future medical expenses. By contributing to your HSA, you can continue to enjoy the tax benefits and savings that come with it.

Once you hit retirement, the idea of managing your finances can seem daunting, but you might be surprised to learn that you can still contribute to your Health Savings Account (HSA). As long as you keep your High Deductible Health Plan (HDHP), you're in the clear to continue making those contributions.