[Split from Subject: Filing for retroactive SS benefits at age 70 - Moderator ClaycordJCA]
Hi all!
I found this discussion and it was very informative. Let me give you my scenario then a question.
I turn 70 next month (August 2024). I am still working for a large company with a group plan. I have not signed up for SSA or Medicare. I have a high deductible health plan with an HSA that I have been funding but not taking reimbursements from.
The rule is that you can only make deposits to an HSA if you have a high deductible health plan. I know that as soon as I start SS benefits, they will automatically enroll me in Medicare Part A which is a low deductible plan. So if I start my SS in August, they will back-date the Medicare to February so I would have to stop funding my HSA the end of January 2024.
I wanted to continue to fund my HSA as long as I could so my plan is to continue to fund my HSA through this month, July, then stop. Then I will wait until February 2025 to enroll in SS and make the start date retroactive to August 2024. This is similar to some of you that have done the same thing.
My question is, will the Medicare Part A also just be retroactive back 6 months to August 2024? I haven’t been able to find any information on this detail. I am hoping they don’t back it up a year to February 2024 (where it would have been if I started my SS in August without the retroactive payment).
Any opinions or experience from anyone?
This can all be so confusing!
Hi all!
I found this discussion and it was very informative. Let me give you my scenario then a question.
I turn 70 next month (August 2024). I am still working for a large company with a group plan. I have not signed up for SSA or Medicare. I have a high deductible health plan with an HSA that I have been funding but not taking reimbursements from.
The rule is that you can only make deposits to an HSA if you have a high deductible health plan. I know that as soon as I start SS benefits, they will automatically enroll me in Medicare Part A which is a low deductible plan. So if I start my SS in August, they will back-date the Medicare to February so I would have to stop funding my HSA the end of January 2024.
I wanted to continue to fund my HSA as long as I could so my plan is to continue to fund my HSA through this month, July, then stop. Then I will wait until February 2025 to enroll in SS and make the start date retroactive to August 2024. This is similar to some of you that have done the same thing.
My question is, will the Medicare Part A also just be retroactive back 6 months to August 2024? I haven’t been able to find any information on this detail. I am hoping they don’t back it up a year to February 2024 (where it would have been if I started my SS in August without the retroactive payment).
Any opinions or experience from anyone?
This can all be so confusing!
Statistics: Posted by SandiaMan — Mon Jul 15, 2024 6:38 pm — Replies 1 — Views 192