For more
information on HSA's, visit this
HSA FACT SHEET.
HSA Common Questions
How do employer
sponsored HSA medical plans affect employees
that are 65 and older?
Once an employee
elects Medicare Part A and/or Part B, they can
no longer make contributions into the HSA
account. Qualifed
HSA medical plans are NOT considered creditable
coverage for the purpose of prescription drugs.
.If the employee stays on the group insurance
when turning 65, the individual will need to
purchase a Part D prescription drug plan in
order not to incur the IRS penalty.
