Can You Receive HSA Contributions After 65 If on Company's Health Plan?

As you approach retirement age, you may be wondering about your Health Savings Account (HSA) contributions if you are still on your company's health plan. The good news is that yes, you can continue to receive HSA contributions after the age of 65 even if you are covered by your employer's health plan.

Here's what you need to know:

• Contributions to your HSA can be made by you, your employer, or both, even if you are over 65 and still on your company's health plan.
• If you are enrolled in Medicare, you cannot contribute to your HSA, but you can still use the funds in your HSA to pay for qualified medical expenses tax-free.
• Once you reach the age of 65, you can also make catch-up contributions to your HSA if you are not enrolled in Medicare and meet certain eligibility requirements.

As you approach retirement age, it’s important to consider how your Health Savings Account (HSA) can still play a vital role in your financial planning. If you’re still on your company's health plan post-65, the good news is you can continue to receive contributions, whether they come from you or your employer.