Can You Save into an HSA Account if You Have Medicare Part A?

If you have Medicare Part A, you may wonder if you can still save into an HSA account. Here's what you need to know:

Having Medicare Part A makes you ineligible to contribute to an HSA because Part A is considered other health coverage.

However, if you have Medicare Part A and meet certain conditions, you may:

• Have an HSA if you had one before enrolling in Medicare
• Continue to withdraw funds from your existing HSA for qualified medical expenses

Remember to consult a qualified healthcare or financial advisor to understand your specific situation and how it relates to HSA contributions and Medicare.

Many people wonder whether having Medicare Part A restricts their ability to contribute to a Health Savings Account (HSA). Unfortunately, if you are enrolled in Medicare Part A, you are not eligible to make contributions to an HSA, as it is classified as other health coverage.