Using FSA funds for Medicare premiums

I retired in September and had $300 left in my Flexible Spending Account.  I just got a notice saying that I should submit more bills to get what’s left.  I don’t have any medical bills, but I have been paying for my Medicare insurance – the hospital part and the drug card.  Will the FSA pay for these?

New Retiree

Dear New Retiree,

No, you cannot pay your Medicare Part B or Part D premiums using funds from your Flexible Spending Account (FSA).   While this is an allowed expense for a Health Savings Account (HSA), it is not for an FSA.  See IRS Publication 502 for a complete list of expenses that an FSA can pay.  I hope you can find something that will help you retrieve your last $300.

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Linda Riddell

About Linda Riddell

A published author and health policy analyst with 25 years’ experience, Linda Riddell's goal is to alleviate the widespread ailment of not knowing what your health plan can do for you.