Is Medicare a High Deductible Health Plan?

[DianeW · Accepted solution]

No.  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 a HDHP. The month your Medicare begins, your account overseer should switch the contributing balance 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. If you use the account for qualified medical expenses, it will continue to be tax-free.

[gooberpeas2]

Why is Turbotax asking all the questions about qualifying to contribute to my HSA when I told it I didn't contribute to my HSA in 2021.  Sigh.

And is Medicare Advantage plan considered Medicare by these questions?

[MarilynG1]

TurboTax may be asking questions about an HSA if you had one previously. I am guessing you didn't have a 2021 W-2 reporting HSA contributions?

If so, indicate that you didn't have an HSA/HDHP in 2021 to get through the section in TurboTax. 

Yes, a Medicare Advantage Plan is considered Medicare.  Often your Medicare Part C premiums used to pay for this insurance are shown on your Social Security Statement SSA-1099, though you may pay the premium (or an additional premium) yourself. If this applies, you can deduct those as a Medical Expense. 

It is governed by Medicare rules, but may add additional benefits for you. 

Click this link for more info on Medicare Premiums.