HSA Calculator — Estimate Your Health Savings Account Growth

Annual Contribution ($)2024 limit: $4,150 individual / $8,300 familyEnter a valid amount.

Current HSA Balance ($)

Years Until You Need the FundsEnter a valid number of years.

Expected Annual Return (%)

Your Marginal Tax Rate (%)

Projected Future Value

—

Annual Tax Savings on Contributions

—

How to Use This Tool

Enter your annual HSA contribution and current balance.
Enter the years until you need the funds and your marginal tax rate.
Click Calculate for your projected future value and annual tax savings.

The "Triple Tax Advantage" of HSAs

Health Savings Accounts offer a unique triple tax benefit: contributions are tax-deductible (or pre-tax through payroll), growth is tax-free, and withdrawals for qualified medical expenses are also tax-free — making HSAs one of the most tax-efficient accounts available.

2024 Contribution Limits

Individual coverage: $4,150
Family coverage: $8,300
Catch-up (age 55+): Additional $1,000

You must be enrolled in a qualifying High-Deductible Health Plan (HDHP) to contribute to an HSA.

HSAs as a Retirement Tool

Unlike Flexible Spending Accounts (FSAs), HSA balances roll over indefinitely and can be invested for long-term growth. Many financial planners recommend paying current medical expenses out-of-pocket when possible, letting the HSA grow tax-free for decades, and using it as a supplemental retirement account — after age 65, non-medical withdrawals are taxed like a traditional IRA but incur no penalty.

Frequently Asked Questions

What happens to unused HSA funds at the end of the year?

Unlike an FSA, HSA balances roll over indefinitely with no "use it or lose it" deadline — funds remain yours and continue growing tax-free until you use them.

Can I use HSA funds for non-medical expenses?

Yes, but before age 65 non-medical withdrawals incur both income tax and a 20% penalty; after age 65, non-medical withdrawals are taxed as ordinary income but avoid the penalty, functioning similarly to a traditional IRA.

This calculator is provided for general informational and estimation purposes only. Results should not be treated as professional financial, tax, legal, medical, or engineering advice. Always verify critical calculations with a qualified professional or official source before making decisions.