HSA Guide
Can You Contribute to an HSA If You're on Medicare?
Published November 17, 2022
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Get the appShort answer: If you are on Medicare, you cannot make new HSA contributions, but you can still use existing HSA funds for qualified medical expenses.
Medicare and HSA contribution eligibility
If you are on Medicare, you are not eligible to make contributions to a Health Savings Account (HSA).
Here are some key points to remember:
- Being on Medicare makes you ineligible to make HSA contributions.
- You can still use the funds already in your HSA even if you are on Medicare.
- Once you enroll in Medicare, you are no longer allowed to contribute to an HSA, but you can still use the existing funds for qualified medical expenses.
Wondering about the effects of Medicare on your Health Savings Account (HSA) contributions? If you're currently enrolled in Medicare, it's important to know that, unfortunately, you cannot make new contributions to your HSA. However, don't worry! You can still access and use the funds you have accumulated for qualified medical expenses.