Question

In my employers HSA plan I made the max contribution for 2020.I start Medicare now, but was told Part A is retroactive to Sep.Do I need to withdraw excess contributions?

Forum|Forum|5 years ago
May 4, 2021
1 reply
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I had an HSA family plan last year, but I am the only one now on Medicare. Does that affect how much excess contribution I might have to withdraw?

TurboTax Premier Online

B

BillM223

First, is this your HSA or your spouse's? You each can have one.

Second, when did you start Medicare? They don't make it retroactive more than 6 months (September is now 8 months ago, maybe 9 if you count this month).

You need to confirm exactly when Medicare is going to start your coverage. Note that they only backdate it when you apply after you are 65, then they take it back to the month of your 65th birthday, but not more than 6 months. - So you need to know the date when Medicare started for you (because TurboTax needs to know).

Don't make assumptions about the excess; let TurboTax calculate that for you (i.e. don't withdraw anything yet). But you need to know the exact starting month of Medicare for you.

When you find out, come back and we can talk about the rest...

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F

fusilli45Author

Thanks! I'm past 65 but retiring from my employer, where I had an HSA plan covering my family. I needed Medicare to start May 1, so I had to apply during March, and apparently Medicare backdates 6 months from the start of the month they receive the application, i.e., March 1. On the Medicare site it states that I started Part B on May 1 and Part A on Sep 1 of last year, despite the fact that I did not have Medicare last year and was in my employer's plan the whole time.