Medicare and Health Savings Account
originally posted: 11/22/2006 reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email asktony@tonynovak.com.
Q: If an employee is age 65 and not receiving Medicare Part B benefit because his employer has more than 20 employees then can that person enroll in an HSA plan.through the employer?
A: An HSA is not available to a person enrolled in Medicare (regardless of the size of the employer), including Medicare Part A, which is automatic for most people at age 65. So usually a person over age not enrolled in Medicare Part B is still not eligible for a Health Savings Account. Even if Medicare is not the primay payor for a working person over age 65, most people are enrolled in Part A and therefore not eligible for an HSA. To fully understand this issue, see the updated language on the Frequently Asked Questions at www.Medicare.gov and the HSA eligibility information at www.ustreas.gov .
Summary
More resources:
www.healthsavingsaccount-hsa.com