HSA Calculator
See the tax you save with an HSA this year and project your invested balance over time with the triple tax advantage.
How it works
Tax saved = contribution × marginal tax rate · Projected balance = contribution × (((1 + g)^years − 1) ÷ g), the future value of a level annual contribution growing at rate g
A Health Savings Account, paired with a high-deductible health plan, is the only account with a triple tax advantage: contributions are pre-tax, the money grows tax-free, and withdrawals for qualified medical expenses are tax-free too. This calculator shows the immediate tax cut — your contribution times your marginal rate — and then projects the balance if you invest each year’s contribution rather than spending it. Because unused HSA funds roll over and can be invested, a long-held HSA becomes a powerful stealth retirement account.
Worked example
A $3,000 annual contribution at a 24% marginal rate saves $720 in tax this year. Invested at 6% a year for 20 years, those level contributions grow to about $110,357 — roughly $50,357 of it tax-free growth on $60,000 contributed.
Frequently asked questions
What are the HSA contribution limits?
For 2024, $4,150 for self-only coverage and $8,300 for family coverage, plus a $1,000 catch-up if you are 55 or older. You must be enrolled in a qualifying high-deductible health plan to contribute.
Why is an HSA called triple tax-advantaged?
Contributions reduce taxable income, investment growth inside the account is untaxed, and withdrawals for qualified medical costs come out tax-free. No other account offers all three, which is why many savers invest their HSA and pay medical bills out of pocket.
What happens to HSA money I don’t spend?
It rolls over indefinitely — there is no use-it-or-lose-it rule like an FSA. After age 65 you can withdraw for any reason paying only ordinary income tax, so an invested HSA doubles as retirement savings.
Related calculators
Educational estimate only, not tax advice. Contribution limits, catch-up amounts and tax rules change with each year and depend on your income and plan — confirm current figures with a qualified tax professional.