Can I still contribute to my HSA while collecting Social Security at age 62?

My brother went thru this last yr. You CAN contribute to HSA while collecting SS as long as ur NOT enrolled in Medicare yet. The confusion is because alot of people start Medicare at the same time as SS. If ur keeping ur employer insurance and delaying Medicare, ur good to keep using HSA.

This is a common question with Social Security and HSAs. I can clarify the rules for you: 1. Collecting Social Security retirement benefits itself does NOT prevent HSA contributions 2. Being enrolled in ANY part of Medicare (Part A, B, C, or D) DOES prevent HSA contributions 3. At age 65, you're automatically enrolled in Medicare Part A if you're receiving Social Security benefits So between 62-65, you can collect Social Security AND contribute to an HSA as long as you: - Have a qualifying high-deductible health plan (HDHP) - Are not enrolled in Medicare - Meet other HSA eligibility requirements Just be aware that when you do turn 65, if you're collecting Social Security, you'll be automatically enrolled in Medicare Part A, which will end your HSA contribution eligibility (though you can still use existing HSA funds).

I thought once you start getting SS checks you HAD to take Medicare too?? That's what my neighbor told me when I was looking into all this stuff last summer. Is that wrong???

I just went through this exact situation! I started my SS benefits at 63 but kept working part-time. I confirmed with both my HR department and my tax accountant that I could CONTINUE contributing to my HSA until I enrolled in Medicare. What I did learn though is you need to be extra careful about stopping HSA contributions BEFORE your Medicare begins. Medicare Part A coverage can be retroactive up to 6 months when you enroll, which could invalidate HSA contributions made during that period. I'm planning to stop my HSA contributions about 7 months before I turn 65 just to be safe.

Been dealing with the SSA for weeks over a different issue. Tried calling literally 50+ times and either got disconnected or couldn't get through. FINALLY used this service called Claimyr that got me connected to an agent in about 20 minutes. Explained my situation about HSA contributions while on early retirement and got clear confirmation that collecting SS does NOT impact HSA eligibility - it's only Medicare enrollment that does. If anyone else needs to actually talk to SSA, check out claimyr.com - they have a video showing how it works: https://youtu.be/Z-BRbJw3puU

One important distinction that's causing confusion: there are different rules for MEDICARE eligibility vs. MEDICARE ENROLLMENT. At 65, if you're receiving Social Security benefits, you're automatically ENROLLED in Medicare Part A. Before 65, you can collect SS without being enrolled in Medicare. HSA contributions are prohibited if you have ANY Medicare coverage. So: 62-65 collecting SS but no Medicare = CAN contribute to HSA 65+ collecting SS with automatic Medicare Part A = CANNOT contribute to HSA The confusion happens because many people don't realize Medicare enrollment becomes automatic at 65 for SS recipients.

WAIT! make sure u double check with ur HR deparment!! Some employers stop letting u contribute to HSA if u tell them ur on SS even though its technically allowed. My cousin had this problem with her company last year and had to have payroll fix it becuz they assumed she was on Medicare too!

The whole system is RIDICULOUS!! Why does starting Medicare prevent HSA contributions anyway? I was forced to enroll in Medicare when I turned 65 even though I had better coverage through my job because I was already collecting SS. Now I can't use my HSA anymore which was saving me a ton on taxes. The government just wants more of our money!!!

Thanks everyone for the helpful information! I'm going to proceed with claiming my Social Security at 62 and continue my HSA contributions through work. I'll make sure to stop the HSA contributions well before I turn 65 to avoid any issues with Medicare Part A retroactive enrollment. I'll also double-check with my employer's HR department to make sure they won't automatically stop my HSA contributions when I report my Social Security benefits. This community has been incredibly helpful!