Becoming eligible for Medicare does not impact your ability to make contributions to or withdrawals from your Health Savings Account, assuming you otherwise remain HSA-eligible. Once you enroll in Medicare, you are no longer eligible to make or receive contributions to your Health Savings Account, but you can continue to pay for qualified medical expenses with your Health Savings Account.

You can still contribute to a Health Savings Account if your spouse has enrolled in Medicare, as long as you are covered by an HSA-qualified health plan.

Your eligibility to make Health Savings Account contributions ends the month you're enrolled in Medicare. Your annual contribution limit is prorated based on the number of months you were eligible to contribute to the Health Savings Account.

It's important to note that electing to receive Social Security retirement benefits automatically enrolls you in Medicare Part A (also known as Hospital Insurance). Currently, there is no process within the Social Security Administration to waive this automatic coverage. Conversely, if you meet Medicare's eligibility requirements, you may have the option to voluntarily enroll in Medicare without electing to receive Social Security Retirement Benefits.

If you are beyond your full retirement age when you sign up for Social Security retirement benefits, your enrollment in Part A could be retroactively effective to the month that you turned 65 or, if longer, by as much as six months. Under IRS rules, that retroactive coverage makes you ineligible to make Health Savings Account contributions during the retroactive period. If you contribute to your Heath Savings Account during this time, those contributions may be included in your taxable income and may be subject to tax penalties. It is advisable that you consult with a tax professional to determine the tax implications of your Health Savings Account contributions made after Medicare part A enrollment.

If you are older than age 65 and you are planning to enroll in Social Security, you should consider discontinuing your Health Savings Account contributions for at least six months before you apply for Social Security retirement benefits to avoid any adverse tax consequences.

Once you have enrolled in Medicare, you can no longer make or receive contributions, but you may continue to use the funds from your Health Savings Account for the same qualified expenses you've always used account funds for, plus these additional expenses:

Please note: You cannot use your Health Savings Account to pay premiums for a Medicare supplemental policy.

According to IRS rules, Health Savings Account contribution limits must generally be prorated by the number of months you are eligible to contribute. Eligibility is based on your coverage status on the first day of the month.

To calculate your personal contribution limit: