Financial Calculators
HSA / FSA Contribution Calculator
Calculate your HSA or FSA tax savings based on your contribution and marginal tax rate. Projects HSA balance growth over time.
2024 limit: $4150
Actual Contribution
$3,000.00
Annual Tax Savings
$660.00
Projected Balance (10 yrs)
$41,914.93
Projected HSA balance growth
The HSA triple tax advantage
A Health Savings Account (HSA) is the only account in the US tax code that offers three simultaneous tax benefits:
- Pre-tax contributions: contributions reduce your taxable income (or are payroll-excluded)
- Tax-free growth: interest, dividends, and investment gains are not taxed
- Tax-free qualified withdrawals: funds used for qualified medical expenses are never taxed
This compares favorably to a 401(k) (pre-tax in, taxed out) or a Roth IRA (taxed in, tax-free out). To contribute to an HSA you must be enrolled in a High Deductible Health Plan (HDHP).
Contribution limits (2024)
| Coverage type | 2024 limit |
|---|---|
| Self-only | $4,150 |
| Family | $8,300 |
| Age 55+ catch-up (additional) | +$1,000 |
HSA vs. FSA comparison
| Feature | HSA | FSA |
|---|---|---|
| Rollover | Rolls over indefinitely | Use-it-or-lose-it (some plans allow up to $640 rollover) |
| Portability | Owned by you; stays when you change jobs | Tied to employer |
| Plan requirement | Requires HDHP | Works with most health plans |
| Investment options | Yes (above cash threshold) | No |
| Contribution changes | Anytime during the year | Only at enrollment or qualifying life event |
Investing HSA funds
Most HSA providers allow you to invest funds above a minimum cash balance (typically $1,000) in mutual funds, ETFs, or index funds. An HSA invested in a broad market index fund over a 20–30 year working career can accumulate substantial healthcare reserves. Unlike a 401(k), after age 65 HSA withdrawals for any purpose (not just medical) are taxed as ordinary income - making it function as a supplemental retirement account as well.