HSA funds to pay Medicare premiums?

[HadEnuff]

Can you do this? Can you pay Medicare premiums with HSA dollars?

 

[Walt34]

Hey, a question I actually know the answer to!

Yes, you can pay for Medicare with HSA funds.

 

[MichaelB]

Yes to Medicare B and D, yes to Medicare Advantage, no to Medicare Supplemental.

 

[Onward]

Good to know. Thanks, guys.

 

[Plantman]

I thought you could use HSA funds for anything once you turn 65?

 

[candrew]

I thought you could use HSA funds for anything once you turn 65?

Affirmative, however, only withdrawals for qualified medical expenses are tax exempt.

 

[Walt34]

I thought you could use HSA funds for anything once you turn 65?

Affirmative, however, only withdrawals for qualified medical expenses are tax exempt.

Exactly. At age 65 the 10% penalty for withdrawal non-qualified expenses goes away and if you want you can take money out and use it for anything. But you do have to pay regular income tax on the withdrawal in the quarter that you made the withdrawal.

 

[Tom52]

Yes to Medicare B and D, yes to Medicare Advantage, no to Medicare Supplemental.

Why can Medicare Advantage premiums be paid out of an HSA but not a supplement plan such as F ? I signed up just last month for a BCBS F supplement and had heard I could not pay premiums from HSA but did not realize Advantage premiums could be paid from HSA funds. I thought they were sort of similar except Advantage plans usually included the D drug plan. I don't understand the difference in tax treatment. Maybe that is their "Advantage" over normal supplement plans?