@kimberly3ct wrote:
@Opus 17 Where did you find the info regarding not following the 6 month time frame (when well past 65 years old), but rather to adhere to the dollar amount limitation? ...
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@kimberly3ct wrote:
@Opus 17 Where did you find the info regarding not following the 6 month time frame (when well past 65 years old), but rather to adhere to the dollar amount limitation? Every article I've found in my research states to stop contributing 6 months prior to enrolling in Medicare. I even did a live chat with Medicare yesterday and gave them all of the details, and they too said that it's not the dollar amount, but the 6 months. The rep was also very clear that you cannot contribute to an HSA once you enroll in Medicare. If you have link I could refer to, that would be great!!
You are confusing two issues, as are the people you are talking to. I mentioned publication 969, here is a direct quote
You can make contributions to your HSA for 2025 through April 15, 2026. If you fail to be an eligible individual during 2025, you can still make contributions through April 15, 2026, for the months you were an eligible individual.
A person's contribution limit is based on how many months of the year they are enrolled in a qualifying HDHP with no other medical coverage. Because Medicare is retroactive, this can affect someone's eligibility limit, especially if they enroll in the Spring, meaning their previous year's eligibility is affected.
However, once you have determined what a person's limit is, that money can be contributed any time of the year, and even up to April 15 of the next year. If a person's goes on Medicare on July 1, so their limit is $4775, it would be allowable to contribute nothing during 2025 and make a lump sum contribution on April 14, 2026. Just like IRAs and other tax items where there is an annual limit, it does not matter when the contribution is made within the extended tax deadline.