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Things can get a little tricky when you reach age 65 and are still working and contributing pre-tax dollars to a Health Savings Account (HSA). Medicare and HSA rules intersect, complicating already complex decisions about when to take your Social Security and Medicare benefits.

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Receiving Medicare and Social Security benefits disqualifies you from contributing to an HSA. If you started an account before you enrolled in Medicare, you still keep the account and make withdrawals—you just can’t contribute to it any longer.

Use this interactive tool to learn more:

I am about to turn age 65 and planning to enroll in Medicare.

OR

I am already age 65 or better and planning to enroll in Medicare.

I am enrolled in the BMC HSA plan and either contributing to the Health Savings Account, or not contributing, but receiving BMC employer seed.

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I am enrolled in the BMC HSA plan and either contributing to the Health Savings Account, or not contributing, but receiving BMC employer seed.


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You cannot open or contribute to a Health Savings Account once you’ve enrolled in Medicare. You must stop all HSA contributions (employee and employer) up to seven months prior to enrolling in Medicare. Reminder: You can continue to use your HSA funds for qualified healthcare expenses after you’ve enrolled in Medicare.

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I am enrolled in the BMC HSA plan and either contributing to the Health Savings Account, or not contributing, but receiving BMC employer seed.


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No action is needed regarding an HSA.

I am age 65 or better and am enrolled in Medicare.

I am currently enrolled in the BMC HSA plan and contributing to the Health Savings Account.

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I am currently enrolled in the BMC HSA plan and contributing to the Health Savings Account.


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You cannot open or contribute to a Health Savings Account while enrolled in Medicare. Tax penalties apply. To minimize your exposure, HSA contributions must stop immediately. Submit a My Requests ticket to BMC Corporate Benefits for assistance with this process. Reminder: You can continue to use your HSA funds for qualified healthcare expenses after you’ve enrolled in Medicare.

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I am currently enrolled in the BMC HSA plan and contributing to the Health Savings Account.


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No action is needed regarding an HSA.

I am age 65 or better and receiving Social Security benefits.

I am enrolled in the BMC HSA plan and contributing to the Health Savings Account.

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I am enrolled in the BMC HSA plan and contributing to the Health Savings Account.


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Receiving Social Security benefits automatically enrolls you in Medicare Part A. You cannot open or contribute to a Health Savings Account if you are enrolled in Medicare. Tax penalties apply. To minimize your exposure, HSA contributions must stop immediately. Submit a My Requests ticket to BMC Corporate Benefits for assistance with this process. Reminder: You can continue to use your HSA funds for qualified health care expenses after you’ve enrolled in Medicare.

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I am enrolled in the BMC HSA plan and contributing to the Health Savings Account.


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No action is needed regarding an HSA.

I am age 65 or better and have decided to delay enrolling in Medicare and/or receiving Social Security.

I am enrolled in the BMC HSA plan and contributing to the Health Savings Account.

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I am enrolled in the BMC HSA plan and contributing to the Health Savings Account.


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You can continue to contribute to your Health Savings Account until you enroll in Medicare (electing to receive Social Security benefits enrolls you in Medicare Part A). Medicare coverage is retroactive to your 65th birthday, or up to seven months prior to enrolling in Medicare if you are already over age 65. You must stop all HSA contributions up to six months prior to enrolling in Medicare. There are several components to this process once you decide to enroll in Medicare. Submit a My Requests ticket to BMC Corporate Benefits for more information. Reminder: You can continue to use your HSA funds for qualified healthcare expenses while you are enrolled in Medicare or receiving Social Security benefits.

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I am enrolled in the BMC HSA plan and contributing to the Health Savings Account.


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No action is needed regarding an HSA.

Disclaimer:

The content on this site includes links to tools and information that are not the property of BMC Software, and BMC Software is not responsible for their accuracy, completeness or continued availability. Some of the material contained in this site is based on official plan documents. It is not, nor is it intended to be, the legal plan document or a contract between the company and any employee or contractor. Every effort has been made to ensure the accuracy of this material. In the unlikely event that there is a discrepancy between the site and the official plan documents, the official plan documents will control. BMC Software reserves the right to amend or terminate the plan(s) or program(s) at any time. If you believe the benefits do not describe those available to you, contact the Benefits Center at 877-BMC-4849.

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Resources

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Plan Contact Information
Enrollment Presentation
Benefits Webinar
Summary of Advocacy Services
HSA Trustee Transfer Form
Request to Close HSA Form
2012 Rates
Medco Preventive Drug List
How to Change Your HSA Contribution
Register for Aetna Navigator

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Blue365 Discount Program

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Blue Access Mobile
Benefits Value Advisors
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Dependent Verification
Wellness Program Overview
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FAQs About Medication Management
2013 Rates
2013 Rates with Wellness Discount
Plan Contact Information
Summary of Advocacy Services
Register for Aetna Navigator
Age 65 Reminder Email
How to Request STD and/or FMLA

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Blue365 Discount Program

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Blue Access Mobile
Benefits Value Advisors
Nurseline

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Dependent Verification
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ESPP Webinar
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Blue365 Discount Program

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Blue Access Mobile
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Transition of Care Summary
PPO Plan Changes Summary
Benefits Value Advisors
Blue365 Discount Program
Duty Calls Parenting App
Find Doctors App
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Blue Access Mobile

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Medicare, Social Security and Health Savings Accounts
FAQs About Medication Management
MetLife BMC Dental Plan
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Dependent Verification
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HSA & Medicare
Mythsmashers
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Blue365 Discount Program

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BMC 2016 Step Therapy Drug List
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2017 Plan Contacts
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2017 Step it Up Team Tip Sheet.pdf

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Blue Access Mobile
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Dependent Verification
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FAQs About Medication Management
Magellan Employee Assistance Program
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Benefit Presentations

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Annual Enrollment Presentation
Medicare, Social Security and Health Savings Accounts
Watch a recorded employee meeting
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Blue365 Discount Program
2018 Annual Limits

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Blue365 Discount Program
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Resources

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Blue365 Discount Program
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Blue Access Mobile
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Benefit Presentations

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Annual Enrollment Presentation
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Medicare, Social Security and HSAs Presentation
Medicare, Social Security and HSAs Recorded Meeting
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Resources

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Blue365 Discount Program
2021 Annual Limits
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Oct. 19 Compuware Meeting
Oct. 19 Compuware Meeting Presentation
Oct. 20 Compuware PPO/HSA Meeting Presentation
Oct. 20 Compuware PPO/HSA Meeting
Oct. 28/Nov. 3 Meeting Presentation
Oct. 28 Meeting
Nov. 5 Medicare, Social Security & HSAs Meeting
Nov. 5 Medicare, Social Security & HSAs Meeting Presentation
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Resources

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Blue365 Discount Program
2022 Rates
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BCBSTX Health Advocate Flyer

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Dependent Verification
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Benefit Presentations

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Medicare, Social Security and HSAs Recorded Meeting
Medicare, Social Security and HSAs Presentation
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Resources

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2023 Rates
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2023 New Hire Benefits Summary

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Blue365 Discount Program

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Dependent Verification
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Benefit Presentations

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Annual Enrollment Presentation
Medicare, Social Security and HSAs Presentation
Annual Enrollment Recorded Meeting
Medicare, Social Security and HSAs Recorded Meeting
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