Social Security and Medicare Part A

If you wait until age 70 to collect Social Security and are still working, be aware that you will be automatically enrolled in Medicare Part A, backdated six months if you haven’t already enrolled. 

This is an issue if you have a HSA as new pre-tax contributions are not permitted under Medicare. You may continue to withdraw money from your HSA after you enroll in Medicare to help pay for medical expenses. 

If you want Social Security, you must be enrolled in Medicare Part A.

If you have already filed a tax return based on HSA contributions, you most likely have to amend your return. 

Additionally, you will need to work with your employer to select a new health plan. 

Backdating only applies to Part A and you have complete flexibility with Parts B and D.