FSA Tax Savings Calculator
FSA Tax Savings Estimator
Calculate tax savings from Healthcare FSA and/or Dependent Care FSA
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Formula
Tax Savings = FSA Contribution x (Federal Rate + State Rate + FICA 7.65%)
Frequently Asked Questions
What is the difference between an FSA and an HSA?
An FSA (Flexible Spending Account) is use-it-or-lose-it and does not require a high-deductible health plan. An HSA (Health Savings Account) requires an HDHP but funds roll over indefinitely and can be invested. HSAs have a triple tax advantage; FSAs only save on contributions.
What are the FSA contribution limits?
For 2024, the Healthcare FSA limit is $3,200 per year. The Dependent Care FSA limit is $5,000 per household ($2,500 if married filing separately). Some plans allow a $640 rollover for Healthcare FSA unused funds.
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