Medicare: Can I pay Medicare premiums with a HSA?
Some premiums underneath Medicare may be certified medical bills. Medicare is a well being plan, so planning out any funds…
Some premiums underneath Medicare may be certified medical bills.
Medicare is a well being plan, so planning out any funds that have to be made is a good suggestion.
HSA defined
A HSA is a well being financial savings account used to pay for medical bills with untaxed {dollars}.
You could use a HSA if you happen to don’t have one other well being plan.
You can not make a contribution to your HSA when you enroll on this well being plan.
What’s the Advance Premium Tax Credit score?
What you are able to do is use the cash in your HSA to cowl premiums for this well being plan.
What to do along with your HSA after enrolling in Medicare
When you can not contribute to your HSA anymore after enrolling, you should utilize the plan.
If you wish to proceed to contribute then you must delay enrolling in Medicare.
You are able to do this if you happen to’re 65 and never but retired or receiving Social Security.
Paying your Medicare premiums with a HSA
You’ll be able to pay the next issues along with your HSA with regards to your Medicare plan
- Medicare Half B premiums
- Half C premiums
- Half D premiums
- Deductibles for all elements
- Copayments
- Coinsurance prices
- Dental
- Imaginative and prescient
- Insulin
- OTC drugs
