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I'm a bit confused as I am about to turn 65. My normal part SS a/b premium of $170 a month will start coming out of my SS this summer. I signed up for a drug plan, dental plan and plan G supplemental medical that will be automatically deducted from my checking account. ( not an advantage plan)
Can I use my HSA to pay of any or all of these premiums? I'm not sure which qualify for the favorable tax treatment and If I can just reimburse myself near years end for these premiums out of the account with out having negative tax consequences.
Thanks
I will assume, and it seems you do understand, that once you are eligible for Medicare (any part) and sign up for Medicare (any part), you cannot contribute to the HSA any longer. That also means that you cannot sign up for Social Security either since you have to be signed up for Medicare Part A, at least, for your retirement benefit.
Now how can you use it -
Two HSA withdrawal rules apply differently to those aged 65 or older (irrespective of Medicare
enrollment)than to most individuals under the age of 65.
Congressional Reserarch Service.gov 02/11/2020 - Health Savings Accounts (HSAs) and Medicare
The reason that Medigap (Medicare Supplemental) premiums aren't included in this rule is simple - Medigap coverage is really NOT health insurance premiums - it is gap insurance.
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