Can You Contribute to HSA if One Spouse is on Medicare?

Health Savings Accounts (HSAs) are a valuable tool for managing healthcare expenses while saving money on taxes. However, if one spouse is on Medicare, it can impact the contributions to the HSA.

When one spouse is on Medicare:

• The spouse who is not on Medicare can still contribute to an HSA if they meet the eligibility requirements.
• If the spouse on Medicare is also enrolled in an employer-sponsored high-deductible health plan (HDHP), they may not contribute to an HSA.
• Contributions to the HSA can only be made by individuals who are not enrolled in Medicare.

It is essential to understand the rules regarding HSA contributions when one spouse is on Medicare to ensure compliance and avoid any penalties.

Health Savings Accounts (HSAs) are a powerful way to save money on healthcare costs, particularly when one spouse is enrolled in Medicare. Understanding how this affects contributions is crucial to maximizing your tax benefits.