Still Working at 65? Here's Why You May Want to Delay Your Medicare Enrollment.

Core Insights - Age 65 marks a significant milestone for healthcare eligibility, particularly for Medicare enrollment [1] - Individuals still working at age 65 may benefit from delaying Medicare enrollment if they have good employer-sponsored health coverage [2] - Delaying Medicare enrollment allows continued contributions to a Health Savings Account (HSA), which offers triple tax advantages [3][6] Medicare Enrollment Considerations - Medicare Part A is free for most enrollees, but Part B incurs a monthly premium, making it less appealing for those with existing employer health plans [2] - Enrolling in Medicare prohibits further HSA contributions, even if only Part A is selected [3] - Delaying Medicare enrollment can help avoid penalties, especially if covered by a qualifying group health plan during the initial enrollment window [4] Health Savings Account (HSA) Benefits - HSAs allow contributions with pre-tax dollars, tax-free growth of invested funds, and tax-free withdrawals for qualifying healthcare expenses [6] - To continue HSA contributions at age 65, individuals must wait to enroll in Medicare [3] - Eligibility for a special enrollment period in Medicare is typically available if the group health plan has 20 or more employees [7]