HSA Contribution and SS at 62

Submitted by Justin R on Fri, 2024-06-21 12:07

I’d appreciate confirmation. Client will turn 62 in April 2025 and commence social security at that time. She’s currently enrolled in an HSA eligible medical insurance plan. Since she’s not Medicare eligible until age 65, she can still contribute to her HSA even though she’ll receive SS?

Flag as spam

Permalink Submitted by Alan - IRA critic on Fri, 2024-06-21 17:30

Yes, up to the first month she is enrolled in Medicare. The HSA contribution for that year is pro rated by the month meaning that the 2028 HSA contribution will be limited to 25% of the annual limit.