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Contributing to Your HSA During Your First Year on Medicare

Calculating how much you can contribute to your HSA during your first year of Medicare can be tricky. But there are answers in Internal Revenue Service (IRS) guidance—specifically Information Letters 2016-0003 and 2016-0014.

According to the IRS, the max HSA contribution during the year someone turns 65 is prorated “based on the number of months the individual is an eligible individual and whether the individual has self-only or other than self-only coverage.”

Check out a specific scenario here.

Author: Jenny Chu