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HSA Calculator

Use the following tool to assess long-term HSA value based on your contributions and spending.
Triple Tax Savings Calculator

Did you know that you (and your spouse) will need to set aside an average of $220,000* by the age of 65 for healthcare expenses alone? An HSA provides triple tax savings (qualified contributions, distributions and interest earned is tax-free) and can help you save for the important years ahead and get you where you need to be faster and easier, while providing annual assistance on current out-of-pocket medical expenses.

Use this HSA Calculator to estimate how much you can save with an HSA. If you're curious about products or services covered by an HSA, browse HSAStore.com for thousands of products and search our Eligibility List for information about medical services.

To start, please enter the following information about yourself. Your privacy is important to us, the information you input throughout this tool will not be recorded or stored by our system, nor will it ever be shared with a third party.

*According to a 2014 retiree health care cost estimate from Fidelity Benefits Consulting

Tax-Free Contribution Savings

1. ANNUAL INCOME

2. MARITAL STATUS

3. STATE

4. ANNUAL HSA CONTRIBUTION

The amount you will contribute to your HSA for the year. Wonder how much you should contribute annually to meet your long-term savings goals? Visit our HSA Future Value Calculator here.

5. ANNUAL HSA EXPENSES

The amount of money you plan to spend from your HSA for the year.

6. FEDERAL TAX BRACKET

0%

7. STATE TAX BRACKET

0%



Interest Tax Savings

8. INTEREST RATE

The rate of return determined by your HSA bank. If you are unsure, use the default of 2% for an estimate.

9. NUMBER OF YEARS YOU WILL CONTRIBUTE TO YOUR HSA

Number of Years You Will Contribute to Your HSA Tax savings will be calculated over the number of years and using the initial annual contribution amount you entered in #2.



HSA vs 401(k)

Calculated using your annual HSA contribution minus annual expenses times amount of years selected.

10. ANTICIPATED CONTRIBUTION FOR YEARS

$0.00

TRIPLE TAX SAVINGS

$0.00

TAX SAVINGS ON INCOME


$0.00

INTEREST TAX SAVINGS


*Assuming an annual contribution of the same value as the initial amount, if contributing for more than 1 year.

$0.00

TAX PENALTY SAVINGS BEFORE AGE 65


*Pentalty savings if you contribute to an HSA vs. a 401(k) (assuming withdrawal before age 65 and use for HSA qualified expenses).

Quick Facts About an HSA

  • How much can I contribute? The maximum amount you're allowed to contribute to an HSA in 2017 is $3,400 as an individual, or $6,750 as a family. If you are an HSA holder over 55 years old, you can contribute an extra $1,000, so that would be $4,400 as an individual and $7,750 as a family. Minimum annual deductibles are $1,300 for individuals or $2,600 as a family to qualify to make contributions to an HSA. Please note that HSA contributions are adjusted annually to reflect the cost of living.
  • Who can contribute to an HSA? If you are enrolled in a qualified High Deductible Health Plan (HDHP) with no other first dollar coverage, you are eligible to contribute to an HSA. Family members or employers can contribute to your FSA, as well. You must ensure that any contributions made do not exceed the annual limit.
  • What can I use an HSA for? You can use an HSA for various out-of-pocket expenses including those for your dependents, such as co-pays, deductibles, vision exams and dental care. For comprehensive details, visit our Eligibility List. You can also save the money in your HSA for future medical costs.

401(k) TAX PENALTY

Example: HSA contribution is $100,000. In a 401(k), $100,000 before age 60 would be taxed normal income taxes (see TAX SAVINGS ON INCOME) plus an additional 10%. If the tax bracket is 30%, $100,000-30% = $70,000, plus an additional 10% tax penalty on the withdrawal of the full $100,000 equals $10,000, so $40,000 loss in penalty.