WebSep 28, 2024 · Medicare and other health care coverage if you were 65 or older (other than premiums for a Medicare supplemental policy, such as Medigap) That leaves most people going back to the market place for coverage. In theory, you can pay for any health insurance premium using HSA funds, but you must be unemployed. WebSep 26, 2024 · While you can use HSA funds to pay Medicare premiums, ... a Medicare expert at Medigap.com. An HSA can be used for any qualified medical expense, such as Medicare Part B, C and D premiums and ...

Re: Another HSA Contribution & Medicare Question

WebYes, your Medicare premiums can be tax deductible as a medical expense if you itemize deductions on your federal income tax return. If you’re self-employed, you may be able to deduct your Medicare premiums even if you don’t itemize. Another way to get a tax benefit for Medicare premiums: You can withdraw money tax free from a health savings ... WebYou also state "However, although you can use your HSA to pay for Medicare Advantage plans, you CANNOT use your HSA to pay for Medicare Supplement Plan premiums". It … imagination movers disney games

Solved: HSA pay for Medicare Premiums for spouse? - Intuit

WebSelf-employed individuals can deduct Medicare premiums on Schedule A of the 1040 as an “above the line” deduction. You can use HSA funds to reimburse yourself for Part B premiums, but not for Medicare supplement premiums. While this article is intended for general informational use, please consult a tax professional for detailed guidance. WebSelf-employed individuals can deduct Medicare premiums on Schedule A of the 1040 as an “above the line” deduction. You can use HSA funds to reimburse yourself for Part B … WebMay 20, 2024 · The IRS specifically states that you can use HSA funds to pay basic Medicare and Medicare Advantage plan premiums. ... such as Medigap). The premiums for long-term care insurance (item (1)) that ... imagination movers bucky up trouble