Working Past 65

What if I work past age 65?

If you plan to keep working past 65, are working for a company with 20 or more full-time employees, AND you are covered through their group health insurance, you may not need all parts of Medicare when you turn 65.

You can sign up for Part A (which is free for most people who have worked at least 10 years) and delay premium-based Part B and/or Part D without incurring a penalty and sign up for Parts B and D later when you retire or lose your job-related insurance. When you do retire, you will have a special election period to sign up for Parts B and D penalty free.

If you are planning to keep your employer’s coverage, you’ll want to compare those cost and benefits against Medicare to decide which is the most cost effective.

About Your HSA:

If you are staying on your employer’s group coverage, and you or your employer contribute to a Health Savings Account (HSA) on your behalf, do not sign up for Part A or B if you want to continue making contributions.

HSA contributions and Medicare

If you are delaying Medicare to stay on your employer’s coverage and want to continue making Health Savings Account (HSA) contributions, do not sign up for Medicare Part A or B.

You cannot continue contributions into your Health Savings Account if you sign up for Medicare, not even Part A. The IRS does not allow you to make contributions if you have two insurances, and Medicare would count as a second insurance if you are on your employer’s group plan.

If you enroll in Medicare past your 65th birthday, you should plan to stop making HSA contributions 6 months prior to enrolling in Medicare, because enrollment is retroactive up to six months.


  • You are 66 and applying for Medicare in June. You should stop contributions prior to December 1 of the previous year.
  • You are 65 in January but are waiting to apply in May. Part A would be retroactive to your 65 birthday in January, so you should stop HSA contributions before January 1.

Free Resource

Everyone’s situation is different. The experienced benefits consultants at Senior Financial Group can discuss your unique situation and help you evaluate whether or not you are ready for Medicare enrollment.

Click here to download a free resource: “Turning 65 and Still Working or Retiring Soon“.

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