Seniors with Medicare Part A only can contribute to Health Savings Accounts (HSA)
Current law often prevents seniors enrolled in Medicare from contributing to Health Savings Accounts (HSA). This bill changes the rules, allowing individuals over 65 who are only enrolled in Medicare Part A (Hospital Insurance) to continue using their HSA. This ensures working seniors can keep saving for future medical expenses while retaining tax benefits.
Key points
Allows working seniors over age 65 to continue making tax-advantaged contributions to Health Savings Accounts (HSA).
The change applies only if the individual's sole Medicare benefit is hospital insurance (Part A), not full Medicare coverage.
This removes a financial penalty for seniors who remain employed and utilize a high-deductible health plan (HDHP).
Status:
Introduced
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