Is it possible to contribute to an HSA while enrolled in Medicare?

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Multiple Choice

Is it possible to contribute to an HSA while enrolled in Medicare?

The key rule is that contributing to an HSA is allowed only if you are not enrolled in Medicare. Once you enroll in Medicare, you’re considered to have health coverage that disqualifies you from making new HSA contributions. So, while you can continue to spend the money already in your HSA on qualified medical expenses, you cannot add new funds after Medicare enrollment. If you’re planning the timing of contributions, you’d contribute before enrolling; after enrollment, contributions should stop.

The key rule is that contributing to an HSA is allowed only if you are not enrolled in Medicare. Once you enroll in Medicare, you’re considered to have health coverage that disqualifies you from making new HSA contributions. So, while you can continue to spend the money already in your HSA on qualified medical expenses, you cannot add new funds after Medicare enrollment. If you’re planning the timing of contributions, you’d contribute before enrolling; after enrollment, contributions should stop.

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