Can I Contribute to an HSA If on Medicare Part A Only?

One of the common questions that people often ask is whether they can contribute to a Health Savings Account (HSA) if they are on Medicare Part A only. The answer to this question is no, individuals cannot contribute to an HSA if they are on Medicare Part A only. Medicare Part A coverage alone is not compatible with HSA contributions.

HSAs are available to individuals who are enrolled in a High Deductible Health Plan (HDHP) and are not enrolled in Medicare. Medicare coverage, including Part A, disqualifies individuals from contributing to an HSA.

While individuals on Medicare Part A only cannot make new contributions to an HSA, they can still use the funds that are already in their HSA for qualified medical expenses. These funds can be used tax-free to pay for eligible health care expenses.

Many individuals wonder if being on Medicare Part A only impacts their ability to contribute to a Health Savings Account (HSA). Unfortunately, the answer is no; if you are enrolled in Medicare Part A, you cannot make contributions to an HSA, as Medicare coverage disqualifies you from this opportunity.