I turn 65 in a week. Still employed and still in a High Deductible Medical Plan. Signed up for Medicare Plan A ONLY. Can I still contribute to my HSA Account Tax Free?

[Anonymous · Accepted solution]

If you enroll in Medicare Part A and/or B, you can no longer contribute pre-tax dollars to your HSA. This is because to contribute pre-tax dollars to an HSA you cannot have any health insurance other than an HDHP. The month your Medicare begins, your account overseer should change your contribution to your HSA to zero dollars per month. However, you may continue to withdraw money from your HSA after you enroll in Medicare to help pay for medical expenses, such as deductibles, premiums, copayments, and coinsurances.

[dmertz]

Since you reach age 65 in October 2019 and have applied for Medicare, your Medicare coverage will begin October 1 2019.  Since you will be covered by Medicare for the last 3 months of the year, if you have been covered by the HDHP for January through September your HSA contribution limit for 2019 is 9/12 of your regular contribution limit.  If you are married and the HDHP plan includes coverage for your spouse who remains an HSA-eligible individual for the rest of the year, your spouse could contribute to your spouse's HSA  the remainder of the family-coverage HSA contribution limit, plus your spouse's own catch-up if age 55 or over.