HSA Calculator — Health Savings Account Growth & Tax Savings

Triple Tax Advantage — Annual Savings

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Federal Tax Saved

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State Tax Saved

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FICA Tax Saved

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Total Annual Tax Saved

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Your Effective Cost

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Projected Balance at Retirement

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Total Tax Saved Over 25 Years

Year-by-Year Growth

Year	Annual Contribution	Medical Withdrawals	Investment Growth	Balance	Cumulative Tax Saved

How the HSA Triple Tax Advantage Works

The HSA is considered the most tax-efficient account available in the US — it offers tax benefits that even a 401k or Roth IRA can't match.

        Triple tax-free:
        Contributions are pre-tax (reduce taxable income)
Growth is tax-free (invest contributions, gains never taxed)
Withdrawals for medical expenses are tax-free

      

2024 Contribution Limits

Individual coverage: $4,150/year
Family coverage: $8,300/year
Age 55+ catch-up: additional $1,000/year

HDHP Requirements

To contribute to an HSA, you must be enrolled in a High-Deductible Health Plan (HDHP). For 2024, that means a deductible of at least $1,600 (individual) or $3,200 (family).

After Age 65

At 65, you can withdraw HSA funds for non-medical expenses (like a 401k), paying only regular income tax — no penalty. For medical expenses, withdrawals remain completely tax-free forever.

Investment Strategy

Many financial advisors recommend paying current medical expenses out-of-pocket (if you can afford it), letting your HSA investments grow tax-free for decades. Keep receipts — you can reimburse yourself for old medical expenses at any future date with no time limit.