No penalty. After you turn 65, you can use money from your Health Savings Account (HSA) to pay Medicare premiums for both of you. Even though your premiums are deducted from your Social Security benefits, you can withdraw money from the HSA tax-free to reimburse yourselves for the Part B premiums. You can also use the HSA money to pay Part D premiums for both of you.
You should confirm this with your HSA Plan Administrator before proceeding.
