FSA Savings Calculator

Get a picture of the financial benefits provided by a Flexible Spending Account (FSA). Use this calculator to estimate your health spending for the year so you can make an informed decision on how much to contribute to your FSA. You’ll also be able to see how much tax savings your contributions can lead to.
Your information

Tell us about yourself and how you’d plan to use your FSA.

Annual income
i

Enter your annual income. We'll use this to calculate your average tax rate.

State
i

The state where you file your tax return. We'll use this to calculate your average tax rate.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District Of Columbia
Federated States Of Micronesia
Florida
Georgia
Guam
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Marshall Islands
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Northern Mariana Islands
Ohio
Oklahoma
Oregon
Palau
Pennsylvania
Puerto Rico
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virgin Islands
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Filing status
i

Choose the option that most closely represents your tax filing status. We'll use this to calculate your average tax rate.

Single
Married filing jointly
Married filing separately
Head of household
Will you be enrolling in a Health Savings Account (HSA)?*
i

This will determine your eligibility to use your FSA funds on medical expenses.

Will you be enrolling in a Medical FSA?*
i

Also referred to as a Healthcare or General Purpose FSA (GPFSA). This will determine your eligibility to use your FSA funds on medical expenses.

Will you be enrolling in a Dependent Care FSA?*
i

This will determine if you are eligible for a Dependent Care FSA (DCFSA).

Calculator Form Field Definitions

  • Medical FSA

    A medical FSA (Flexible Savings Account) is a pre-tax health account that can be used to pay for eligible healthcare expenses. It is also referred to as a FSA, healthcare FSA, or general purpose FSA.

  • Dependent Care FSA

    A Dependent Care FSA (DCFSA) is a pre-tax benefit account used to save and pay for child or dependent care services such as day care, nannies, babysitting, or adult day care. It helps individuals pay for services that allow them to work when they would otherwise need to be at home fulfilling caretaking duties. Learn more about DCFSAs.

  • Health Savings Account (HSA)

    An HSA is a tax-advantaged savings account that can only be used with a qualifying high-deductible health plan (HDHP).

  • FSA contribution amount

    The recommended annual FSA contribution amount based on your expected eligible out-of-pocket expenses for all applicable medical, vision, or dental expenses.

  • Dependent Care FSA contribution amount

    The recommended annual dependent care FSA contribution amount based on your expected eligible out-of-pocket expenses for all dependent care expenses.

  • Maximum contribution amount

    The limit for FSA or DCFSA contributions is set by the federal government. Please note that your employer is able to set a custom limit and this amount could be lower than the federal limit.

  • Estimated tax savings

    The amount you could save in federal and state (if applicable) income taxes for the year by contributing the recommended FSA or DCFSA contribution amount. We use your annual income, state, and filing status to calculate your projected tax savings.

Frequently Asked FSA Questions

  • What is an FSA?

    A Flexible Spending Account (FSA) is a tax-advantaged benefit that allows employees to set aside pre-tax money to pay for qualified medical expenses. They are used to deposit and save pre-tax money to pay for qualified medical, dental, or vision expenses.

  • Does an FSA rollover?

    This depends on your employer. If any funds remain in your Medical FSA at the end of the current plan year, your employer may either allow you to rollover up to $550 of your FSA savings to the following plan year or give you a 2 ½ month grace period following the end of the plan year during which you can use any remaining funds. A Dependent Care FSA plan allows for a reasonable time for you to submit claims after the plan year-end, but all dependent care expenses must be incurred by plan year-end. Learn more about FSA rollovers.

  • What are the advantages of an FSA?

    With an FSA, you can use pre-tax money to pay for qualified healthcare expenses that are not covered by insurance. The tax savings gives you more buying power and helps you be prepared to pay for out-of-pocket expenses.

  • What can I use my FSA on?

    You can use a Medical FSA for qualified medical, dental, and vision expenses. You can use a Dependent Care FSA for qualified care expenses, like child or adult daycare. Limited Purpose FSAs are only used for qualified dental and vision expenses. View a searchable list of all eligible expenses for each plan type.

  • What is a Dependent Care FSA?

    A Dependent Care FSA (DCFSA) is a pre-tax benefit account used to pay for childcare, custodial care, and elderly care services. It helps individuals pay for services so they can work when they would otherwise need to be at home fulfilling caretaking duties. Learn more about DCFSAs.

  • What is a Limited Purpose FSA?

    A Limited Purpose FSA (LPFSA) is a tax-advantaged benefit that allows employees to set aside pre-tax money for qualified dental and vision expenses. You can LPFSA and an HSA at the same time. Learn more about LPFSAs.

Other helpful resources

Health Plan Cost Calculator

Compare two health plans and project your estimated cost

Calculate
HSA Savings Calculator

See how much you can save with your HSA.

Calculate
HSA Contribution Limit Calculator

See how much you can contribute into your HSA.

Calculate

Get the most out of your FSA

Lively helps your healthcare dollars go further. Open your free Lively HSA and start saving.

This calculator is designed to be informational and educational only. It does not constitute investment or tax advice. We cannot and do not guarantee the applicability of accuracy of the calculator in regard to your individual circumstances. Your contributions and tax savings may vary based on multiple factors, including income, regulatory changes, and your state of residence. The limit for FSA contributions is set by the federal government but your employer is able to set a custom limit that may be lower. Please seek the advice of a financial services and tax professional before making any type of investment decision. Dependent Care FSA reimbursable expenses must be for a child under the age of 13 or an elderly parent or family member who is incapable of self care. The person or people for whom you provide care live must live with you full-time. Expenses incurred by or on behalf of a domestic partner are not reimbursable. Expenses must be incurred in order to enable the employee and the employee’s spouse to be be gainfully employed or seeking employment.