People often ask “how does enrolling in Medicare affect my Health Savings Account (HSA)?”, and it’s really quite simple.
Since Medicare is not a high-deductible health plan, once you become Medicare-eligible you’re no longer able to make contributions to your health savings account. But that doesn’t mean that you can’t use your HSA. Any kind of expenses that you would incur even when you’re Medicare-eligible, if you still have money in your HSA you can utilize those funds to pay for those services such as your deductibles, your co-payments, and your coinsurance.
You can also use HSA contributions to pay for Medicare services such as your Medicare Part B or your Medicare Part C premium.
So, in other words, you have a great amount of flexibility with your health savings account once you become Medicare-eligible. And although you can’t make contributions, you certainly can utilize it to its fullest extent.