HSA Calculator
HSA Growth Calculator
Calculate HSA tax savings and investment growth over time
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Formula
HSA Value = Sum of (Monthly Contribution × (1 + r)^remaining months). Tax Savings = Contributions × Tax Rate + Growth × Tax Rate. FICA Savings = Contributions × 7.65%.
Frequently Asked Questions
What is the HSA triple tax advantage?
The HSA triple tax advantage means: (1) Contributions are tax-deductible and reduce your taxable income, (2) Investments grow tax-free inside the HSA, (3) Withdrawals for qualified medical expenses are tax-free. HSA contributions also avoid FICA taxes, making it a quadruple benefit.
What are the 2024 HSA contribution limits?
For 2024, the HSA contribution limit is $4,150 for self-only coverage and $8,300 for family coverage. Those age 55+ can contribute an additional $1,000 catch-up contribution. Employer contributions count toward these limits.
Can I invest my HSA funds?
Yes, most HSA providers allow you to invest your balance in mutual funds, ETFs, and other securities once you reach a minimum cash balance (often $1,000-$2,000). Investing your HSA for long-term growth is one of the best tax-advantaged strategies available.
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