BMC Software - My Benefits

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.

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.

Yes No

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

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.

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

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.

Yes No

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

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.

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

No action is needed regarding an HSA.

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