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2022 AICPA & CIMA ENGAGE

ENG2205 - Contributing to an HSA Beyond Age 65 - Navigating Medicare's Rules (PFP, EST, TAX)


Jun 7, 2022 8:00am ‐ Jun 7, 2022 9:15am


Standard: $49.00

Description

For clients wishing to contribute to a Health Savings Account beyond age 65 due to eligible group health plan coverage, navigating the rules of enrolling in Medicare later are fraught with confusion. This session will review the rules to ensure that those who do defer Medicare enrollment can avoid the lifetime late enrollment penalties while also covering several common questions and pitfalls so you can best advise clients on their choices when working past age 65.

Learning Objectives:
  • Recognize scenarios where clients may be at risk for penalties due to late enrollment in Medicare or making ineligible contributions to a Health Savings Account.
  • Assess the maximum amount eligible taxpayers can contribute to their Health Savings Account in the year they plan to enroll in Medicare.
  • Apply the rules for HSA contribution eligibility alongside Medicare enrollment to specific scenarios involving married clients who do not retire at the same time.

Speaker(s):

  • Kelley C. Long, CPA/PFS, CFP®, Financial wellness coach and consultant, Financial Bliss with Kelley Long

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