A recent FEDZONE column entitled “FEHB Program Health Types and Options” (https://stwserve.com/fehb-program-health-plan-types-and-options/) discusses the various types of Federal Employee Health Benefit (FEHB) program health plans available to federal employees and retirees and eligible family members. Those federal employees and retirees who own an HSA and who will soon be eligible for Medicare are advised to be aware of how enrolling in Medicare will affect their HSA. This recommendation still applies, but an exception is for any individual working past age 65, enrolled in an HDHP with access to an HSA, and who wants to continue contributing to their HSA. Additionally explained are why individuals postponing Medicare enrollment must be diligent about how applying for Social Security or Medicare after age 65 impacts HSA contributions. The rule of no other health insurance coverage besides the HDHP applies to federal employees and retirees whose other coverage is TRICARE (the group health insurance program for retired Uniformed service members, retirees and their families).

Source: Forbes November 15, 2024 14:18 UTC