The present invention is directed to a shieldable blood collection set and a needle assembly for use therewith. The needle assembly includes a needle cannula having a puncture tip at a distal end, a hub which supports the needle cannula, and a shield. The hub and the shield are axially movable with respect to each other between a first sampling position, where the puncture tip is exposed from the shield, and a second shielded position where the shield covers the puncture tip. A gauze pad is connected to the shield through a tether. After a venipuncture procedure, the gauze is maintained over the needle puncture tip at the puncture site, and the needle is withdrawn from the patient by pulling on the hub. This movement causes the tether to tightly extend between the gauze and the shield, which causes the needle puncture tip to be withdrawn into the shield.