Retirement Planning/ Medicare and HSA
Terry, I am turning 65 in May 2025. I have registered for Medicare part A as required. I plan to work until full retirement age through May 2027.
I have a high deductible healthcare plan with UHG through my employer and plan to keep this until retirement. I enjoy the HSA benefit this plan offers.
My question is , Do I need to stop adding funds to the HSA now or can I continue to fund it until my planned retirement at full age in May 2027? Since I have signed up for but not using Medicare do I need to close my HSA account?
I am getting mixed messages from UHG and others. Thank you very much.
Terry Says
I don’t know who told you to sign up for Medicare Part A. Maybe it was required by your work insurance.
BUT, once you sign up for Part A, you can no longer contribute to an HSA.
