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You can use the funds from your HSA to pay healthcare costs, including your Medicare premiums. Qualified medical expenses include: Medicare Part B premiums. Medicare Part C premiums. Medicare Part ...
A person cannot currently use their HSA to pay for Medigap premiums. If a person has their Medicare premiums automatically deducted from their Social Security benefits, they can reimburse ...
You can also tap your HSA to pay for services Medicare won't cover, like dental care and eye exams. 3. You should stop HSA contributions six months before your Medicare enrollment if you're ...
Health savings accounts were created in 2003 as part of the Medicare Prescription Drug, Improvement, and Modernization Act. ... For example, you can use HSAs to pay premiums for Medicare Part B ...
After you turn 65, you can also withdraw money tax-free from the HSA to pay premiums for Medicare Part B, Part D and Medicare Advantage (but not Medigap) coverage. Even these basic costs can add ...
An HSA works similarly to a retirement account such as a 401(k), but the money can be withdrawn tax-free to pay for qualified medical expenses. HSAs are offered as part of high-deductible health ...
The new 2025 annual limit for a health savings account will be $4,300, up from $4,150. ... Medicare premiums. ... which most people must pay before their Medicare coverage begins, will rise by $17 ...
By contributing to your HSA throughout your working years, you can accumulate funds that can be used tax-free for qualified medical expenses in retirement, including Medicare premiums, long-term ...