What this calculator shows you
- 2026 Limits Built In
- $4,400 self-only, $8,750 family, plus $1,000 at 55+
- Invest It vs. Spend It
- Compare paying bills from the HSA with letting it grow
- Tax Savings
- Federal, state, and payroll tax saved each year
- Honest Check
- Rerun everything at 6% in one click
What an HSA Is
A health savings account is a savings account for medical costs that you can also invest. Your contributions lower your taxable income, the money grows without tax, and withdrawals for qualified medical expenses are tax-free. No other account gets all three breaks. Unlike an FSA, there is no use-it-or-lose-it rule: the money is yours and rolls over every year, even if you change jobs.
Who Can Have One
You need an HSA-eligible health plan and no other disqualifying coverage. Usually that means a high-deductible health plan: for 2026, a deductible of at least $1,700 for self-only coverage or $3,400 for family, with out-of-pocket costs capped at $8,500 or $17,000. Starting in 2026, bronze and catastrophic marketplace plans also count, and certain direct primary care memberships no longer disqualify you. Once you enroll in Medicare, you can no longer contribute.
2026 Contribution Limits
You can put in up to $4,400 with self-only coverage or $8,750 with family coverage. At 55 and older, add $1,000. Your employer's contributions count toward the same limit. Contributions made through payroll also skip Social Security and Medicare tax, which is 7.65% more saved than contributing on your own.
Invest It or Spend It?
Many people use their HSA like a checking account for medical bills. If you can afford to pay those bills from your pocket instead, you can invest the HSA and let it grow for decades. Keep your receipts: there is no deadline to reimburse yourself, so a bill paid today can be reimbursed tax-free years later, as long as the HSA was open when the expense happened.
The Rules After 65
Medical withdrawals stay tax-free at any age. After 65, you can also take money out for anything else; it is taxed as income, like a traditional IRA, but there is no penalty. Before 65, non-medical withdrawals owe income tax plus a 20% penalty.
Questions people ask
Do states tax HSAs?
Most states follow the federal rules. California and New Jersey do not: contributions and growth are taxed at the state level there. If you live in either state, set the state tax rate in the calculator to 0%.
Can I invest the money in my HSA?
Usually, yes. Most HSA providers let you invest in funds once your balance passes a minimum, often around $1,000 to $2,000 kept in cash. Check your provider's investment options and fees.
What happens to my HSA if I change jobs?
It stays yours. You can keep it where it is or move it to another HSA provider. You just can't add new money unless you still have an HSA-eligible health plan.
Education only, not personalized financial, tax or investment advice. Results are estimates based on the numbers you enter; real returns vary and losses happen.