Dear Mary: I’m a few months from my Medicare birthday, when I’ll turn 65. I have had a high-deductible health savings account qualified insurance plan for more than 10 years. The health savings account has a decent balance of nearly $15,000 because I’ve enjoyed good health and few medical expenses. My question: Can I keep my health savings account once I’m on Medicare? —Gordon Dear Gordon: That’s an interesting question, and it sent me into a research scurry. Here’s what I’ve learned: Medicare isn’t a high deductible health plan, which is the number one requirement for a health savings account, or HSA. That means that once you are on Medicare, you will not be eligible to contribute to an HSA. But there is no problem if you keep an existing HSA or withdraw from it for medical expenses. Here’s the bottom line: Once you are on Medicare, you can have …
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta