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Health Savings Account (HSA) Question

Posted on 1/30/25 at 8:16 pm
Posted by Spankum
Miss-sippi
Member since Jan 2007
60370 posts
Posted on 1/30/25 at 8:16 pm
I have had a high deductible healthcare plan and associated healthcare savings account (HSA). I know the HSA can be used to pay insurance premiums when you are on Medicare, but if you retire before you are 65 can you also use your HSA to pay premiums?
This post was edited on 1/30/25 at 11:11 pm
Posted by TigerGrl73
Nola
Member since Jan 2004
21423 posts
Posted on 1/30/25 at 8:42 pm to
quote:

know the HSA can be used to pay insurance premiums when you are on Medicare,

You can use HSA money to pay Medicare A (usually free but has a premium in some circumstances), B, or D premiums, but you can't use that money for Medigap plans.

quote:

you retire before you are 65 can you also use your HSA to pay premiums?

No, unless you have COBRA.
Posted by Puffoluffagus
Savannah, GA
Member since Feb 2009
6437 posts
Posted on 1/30/25 at 8:44 pm to
quote:

Insurance premiums.

 

You can’t treat insurance premiums as qualified medical expenses unless the premiums are for any of the following.

Long-term care insurance.

Health care continuation coverage (such as coverage under COBRA).

Health care coverage while receiving unemployment compensation under federal or state law.

Medicare and other health care coverage if you were 65 or older (other than premiums for a Medicare supplemental policy, such as Medigap).




irs guidance
Posted by Spankum
Miss-sippi
Member since Jan 2007
60370 posts
Posted on 1/30/25 at 11:00 pm to
Thank you both!
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