How much worth the Health Savings Account (HSA) will be for you over the savings period? (HSA) Health Saving Account Calculator is equipped to formulate your savings strategy for Health Savings Accounts. With the help of this HSA savings calculator, it’s easy to compare different situations like reduction in expenditures or increase in allowable deductibles.
Health Savings Account (HSA)
If you have registered for High Deductible Health Plan (HDHP) and if you are a U.S. tax payer, you will be eligible to get tax advantage under the Health Savings Account (HAS). Visit the United States treasury site for detail knowledge about the minimum and maximum amount you can get.
High Deductible Health Plan (HDHP) deductible amount
The medical expenses you incur before your medical insurance starts to cover your healthcare expenses. In 2013, the minimum deductible amount was $1,250 for individual and $2,500 for family.
High Deductible Health Plan (HDHP) coverage type
Select the type of HDHP coverage. This will determine the minimum amount of deductible.
Current Health Savings Account (HSA) balance
Current available amount in your Health Savings Account.
Monthly Health Savings Account (HSA) contribution
Amount of dollar you have planned to put into the health savings account. This financial calculator will not consider any catch-up amount and will assume that your monthly payments are made at the starting of each month.
Monthly heathcare expenses
Expected amount of monthly qualified medical expenses.
Years before retirement
Number of years remaining before you have planned to go for retirement.
Annual rate of return
The rate of return you expect to earn every year from the fund invested on Health Savings Account (HSA). The type of investment you choose has an effect on the actual rate of return.
Expected inflation rate
Your anticipated average rate of inflation over the long-term. You can estimate this rate using the average price change in the Consumer Price Index (CPI).
Marginal income tax rate
The marginal rate of federal tax applicable for you. Following chart shows category wise tax rate as on 2013. Contact your tax advisor for better understanding.