How does enrollment in Medicare affect the individual's spouse?

If an individual’s spouse is not yet enrolled in Medicare, has HDHP coverage and meets the other HSA eligibility rules, he or she may contribute to an HSA opened in his or her own name. The individual who enrolled in Medicare is not allowed to transfer their HSA to their spouse’s name. However, since contributions to HSAs are tax-deductible and any person may contribute to another person’s HSA, the Medicare enrolled individual could contribute to the spouse’s HSA and the contribution would be an “above the line” tax-deduction for the spouse.

Introducing UMB HSA Saver

UMB HSA Saver is a unique investment platform designed with ease in mind. Account holders can easily research, buy and sell funds with a couple clicks.

How to Use ReceiptVault

HSAs are available to help pay for current qualified medical expenses as well as to save for future expenses, all in a tax-exempt account.

Take the guesswork out of HSA Administration

The UMB HSA empowers you with robust analytics, reporting tools and the communication support you'd expect from a top 10 HSA custodian