HSA Tax Savings Calculator

HSA Tax Savings Calculator

Health Savings Accounts (HSAs) can help you financially prepare for the future — and manage eligible medical expenses with more confidence. If you’re enrolled in a high deductible health plan, you are eligible to contribute to an HSA. They can be used to pay for qualified medical expenses today, tomorrow and throughout your retirement years as long as there are funds in your account. The account is funded with pre-tax dollars, which can be used tax-free to pay for qualified medical expenses. Plus, the account is always yours to take with you. 

Check out our calculator to estimate how much you can save and understand the tax implications. 

Related Information

Health Account Solutions, including Health Savings Accounts, Flexible Spending Accounts, Commuter Benefits, Health Reimbursement Arrangements, and COBRA Administration offered by Voya Benefits Company, LLC (in New York, doing business as Voya BC, LLC). HSA custodial services provided by Voya Institutional Trust Company. For all other products, administration services provided in part by WEX Health, Inc.

This highlights some of the benefits of these accounts. If there is a discrepancy between this material and the plan documents, the plan documents will govern. Subject to any applicable agreements, Voya and WEX Health, Inc., reserve the right to amend or modify the services at any time.

The amount saved in taxes will vary depending on the amount set aside in the account, annual earnings, whether or not Social Security taxes are paid, the number of exemptions and deductions claimed, tax bracket and state and local tax regulations. Check with a tax advisor for information on whether your participation will affect tax savings. None of the information provided should be considered tax or legal advice.