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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 16580
Experience:  Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level
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I will be turning 65 in January 2016 1. Is it Mandatory to

Customer Question

I will be turning 65 in January 2016
1. Is it Mandatory to register for Medicare Part A?
2. I plan to continue working next year and use the Medical Benefits Plan with the company. I am told once I sign up for Medicare Part A, I can no longer participate in the Health Savings Account is this true? I am needing to Elect Benefits for next year and I have participated in the HSA and I hate to loose it.
Submitted: 1 year ago.
Category: Social Security
Expert:  Megan C replied 1 year ago.

Thanks for your question

You must sign up for Medicare, and typically when you are even eligible for Medicare you lose access to the HSA. It's written that way so that people take advantage of social security medicare benefits, which ultimately lowers the company's medical costs. So you must sign up for this. I wish I had better news for you.