Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Late last year a post contained...

If the "Health Savings for Seniors Act" is passed in the current form, the treatment like a Traditional IRA after 65 and the ability to pay for any/all Medicare premiums will be eliminated. If you are concerned about those types of reimbursement going away, you should write to your representative.

I prefer obtaining info off sites, but all my searches indicated HSAs can be used for reimbursements of Medicare premiums, e.g.

Bill Summary from

This bill modifies the requirements for health savings accounts (HSAs) to

* rename high deductible health plans as HSA-qualified health plans;
* allow spouses who have both attained age 55 to make catch-up contributions to the same HSA;
* make Medicare Part A (hospital insurance benefits) beneficiaries eligible to participate in an HSA;
* allow individuals eligible for hospital care or medical services under a program of the Indian Health Service or a tribal organization to participate in an HSA;
* allow members of a health care sharing ministry to participate in an HSA;
* allow individuals who receive primary care services in exchange for a fixed periodic fee or payment, or who receive health care benefits from an onsite medical clinic of an employer, to participate in an HSA;
* include amounts paid for prescription and over-the-counter medicines or drugs as "qualified medical expenses" for which distributions from an HSA or other tax-preferred savings accounts may be used;
* increase the limits on HSA contributions to match the sum of the annual deductible and out-of-pocket expenses permitted under a high deductible health plan; and
* allow HSA distributions to be used to purchase health insurance coverage.

The bill also: (1) exempts HSAs from creditor claims in bankruptcy, and (2) reauthorizes Medicaid health opportunity accounts.

The bill allows a medical care tax deduction for: (1) exercise equipment, physical fitness programs, and membership at a fitness facility; (2) nutritional and dietary supplements; and (3) periodic fees paid to a primary care physician and amounts paid for pre-paid primary care services.

Am I missing something? Aren't Medicare premiums considered health insurance coverage....and can't one already use HSAs for Medicare premiums?

Thanks again for all everyone sharing your knowledge.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.