If I'm over 65 1/2, Can I simply Delay Medicare (and SS benefits) signup for 6 months after losing job and stopping HSA contributions so I won't have any excess HSA contributions?
I have read many time to stop HSA contribution 6 months prior to ending my job followed by Medicare signup.
I have also read how to calculate excess HSA contributions that need to be returned if I don't stop HSA contributions 6 months before ending employment.
But what if I want to maximize my HSA contributions and not return any so I simply delay signing up for Medicare and starting Social Security benefits for 6 months after I stop employment? I can't seem to find anything about this specific case. What, if any, are the downsides to doing this?
I realize that I will need to get some other health insurance coverage during those 6 months. But, as I understand it, I have 8 months to signup for Medicare Parts A & B after my employment ends, so it seems I would be fine to wait 6 months before doing so and then I won't need to return any excess HSA contributions. I appreciate any feedback on this if I am missing something or misunderstanding. Thank you.
