When Do You Have to Stop Contributing to an HSA Account When Enrolling in Medicare?

When you enroll in Medicare, there are certain rules regarding your contributions to a Health Savings Account (HSA). The key point to remember is that once you enroll in Medicare, you can no longer contribute to your HSA.

Here are the details you need to know:

• When you turn 65 and enroll in Medicare, you are no longer eligible to contribute to your HSA.
• If you delay enrolling in Medicare and continue working, you can still contribute to your HSA until you officially enroll in Medicare.
• If you are already receiving Social Security benefits when you turn 65, you will be automatically enrolled in Medicare Part A, which means you must stop contributing to your HSA.

It's important to plan ahead and understand the rules so that you can make the most of your HSA benefits before enrolling in Medicare.

As you approach your 65th birthday and consider enrolling in Medicare, it's crucial to understand the implications for your Health Savings Account (HSA). Once you enroll in Medicare, you will no longer be able to contribute to your HSA.