Q. I have an HSA, but I’m turning age 65 in November. Can I still contribute to the HSA if I enroll in Medicare Part A? A.G., Waterbury, Conn.
A. No. A Health Savings Account (HSA) enables someone with a high-deductible health insurance plan to set aside funds (within certain annual limits) on a pretax basis. However, if you sign up for any part of Medicare (Part A generally covers hospital expenses), you’re no longer eligible to contribute to the HSA.
Tip: You can postpone participation in Medicare Part A if you also defer receipt of Social Security benefits.