Can I use a health savings account (HSA) to pay Medicare premiums after I retire?
Answered by 2 licensed agents
Yes, absolutely. In addition to paying Medicare Part B, Part D, and Medicare Advantage (Part C) premiums, you can also use your HSA funds tax-free to cover out-of-pocket costs like copays, coinsurance, and deductibles for those plans. That includes copays at the pharmacy under Part D or doctor visit copays under a Medicare Advantage plan. HSA funds can also be used for dental, vision, and hearing expenses—even if Medicare doesn't cover them. Just remember, once you're enrolled in any part of Medicare, you can no longer contribute to your HSA, but you can continue to spend what you've already saved. It's a great preplanning tool for managing healthcare costs in retirement with tax advantages.
Answered by Bill Green on March 26, 2025
Broker Licensed in FL, AL, AZ & 19 other states
HSA funds can be used for qualified medical expenses, which include Medicare premiums for Part A (hospital coverage), Part B (medical coverage), Part C (Medicare Advantage), and Part D (prescription drug coverage).
Answered by Timothy Brown on March 28, 2025
Broker Licensed in PA, CT, DE & 15 other states
Tags: Advice for Seniors New To Medicare Retirement
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