The Health Savings Account (HSA) calculator can help you:
Easily estimate your health care expenses and savings potential.
Make informed decisions about healthcare planning, saving, and spending.
Learn valuable tips for maximizing the benefits of your health savings account.
Triple tax advantages All contributions to your HSA are in pre-tax dollars. That means you pay no taxes on the amount you save in the account.
As the account grows due to investment returns and dividend reinvestments, you'll pay no taxes on those gains.
An HSA has the additional advantage of being the only savings or investment account for which you pay no taxes on withdrawals used to pay for qualified medical expenses.
Did you know?At age 55, you'll be eligible for catch-up contributions. This is an additional $1,000 above the annual contribution limit each year. This allows people nearing retirement age to maximize their tax savings while increasing their savings for health care in retirement.