Find Your Optimal HSA Contribution

Our guided Health Savings Account (HSA) contribution calculator can help you meet your short or long-term HSA saving and investing goals. Maximum savings today, maximum saving for tomorrow, or a mix of both. Whatever your goal is, find your optimal HSA contribution today.
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Your information

Answer a few questions about yourself and how you’ll be contributing to your HSA. We’ll use this information to build a contribution recommendation.

*Who is coverage for?
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Choose the insurance coverage type for your health plan.

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

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

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

Alabama
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California
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Connecticut
Delaware
District Of Columbia
Federated States Of Micronesia
Florida
Georgia
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Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
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Louisiana
Maine
Marshall Islands
Maryland
Massachusetts
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New York
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Northern Mariana Islands
Ohio
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Palau
Pennsylvania
Puerto Rico
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virgin Islands
Virginia
Washington
West Virginia
Wisconsin
Wyoming
*Current age
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Your age today. We'll use this to calculate how many years you have until retirement if you are planning to invest your HSA for the long-term.

*Do you currently have an HSA?
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Select "Yes" if you currently have an HSA with Lively or another provider. We'll then ask for your current balance to build your projections.

*Will you be contributing through your employer?
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Select "Yes" if your employer offers an HSA and you will be setting your contribution amounts through your employer.

Form Fields

  • Annual income

    The amount of income you earn the year you open your HSA. We use this to estimate your average tax rate and project the tax savings from your HSA contributions.

  • Filing status

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

  • 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).

  • Current HSA balance

    The amount you already have in your health savings account the first month after you open it.

  • Annual HSA expenses

    The estimated amount you'll pay each year from your HSA for qualified medical and healthcare costs.

  • Retirement age

    Everyone’s retirement age is different. This age could be the year you start receiving Medicare benefits. For HSA specifics, this could be the year you begin withdrawing funds from your HSA after you turn 65.

  • Maximum contribution amount

    The IRS sets limits each year for maximum contributions to HSAs and other tax-advantaged savings accounts. For 2021, HSA-eligible account holders are allowed to contribute $3,600 for individual coverage and $7,200 for family coverage.

  • Estimated tax savings

    The estimated amount you will save on Federal and State (if applicable) taxes by making contributions to your HSA.

HSA FAQs

  • What is an HSA?

    A health savings account (HSA) allows you to save tax-advantaged money (pre-tax for contributions made from paychecks, tax deductions for direct contributions) to be spent on qualified medical expenses. Those can include most medical, dental and pharmacy bills, co-payments and coinsurance. The most common way to access these funds is with an HSA debit card.

    You can also reimburse yourself from the account for your own medical expenses paid out-of-pocket (expense requirements are quite liberal). This means you're spending "tax-free" money for most medical costs, creating enormous potential tax savings when utilizing an HSA.

  • Who is eligible to open an HSA?

    Your health insurance must be classified as an HSA-eligible High Deductible Health Plan (HDHP). This insurance coverage type charges lower-than-normal premium payments, but the minimum HDHP deductible amount is high and changes annually.

    In 2021, the minimum deductible is at least $1,400 for an individual and $2,800 for a family plan.

    You can't contribute to an HSA once you start receiving Medicare Part A benefits.

    Read more about HSA eligibility

  • What designates a qualifying High Deductible Health Plan?

    A High-Deductible Health Plan (HDHP) is a health insurance plan traditionally defined by lower premiums and higher deductibles. For a health plan to be considered a qualifying, high-deductible health plan, or HSA-eligible, it must meet the IRS's annual minimum deductible and out-of-pocket maximum set annually. These two amounts are indexed annually for inflation.

    The health insurance plan must also be designed so that the individual or family (two or more individuals) pay the cost of healthcare up to the deductible before any insurance kicks in (preventative care excluded from this definition).

    Read more about HSA eligibility

  • What are the HSA contribution limits?

    The IRS sets limits each year for maximum contributions to an HSA. The maximum contribution limits for 2021 are $3,600 for individuals and $7,200 for families. If you are 55 or older, you can contribute an additional $1,000 catch-up contribution. If your spouse is also 55 or older, they may also be able to contribute an additional $1,000 catch-up contribution into their own account.

  • How can I open an HSA?

    Opening or transferring your HSA to Lively is easy and you won’t be surprised by hidden fees. You can sign up here.

    If your employer offers an HSA as an employee benefit, you can open one through them. Since each HSA is owned by an individual, you can open an account through any provider, at any time. You don’t have to wait until open enrollment.

  • What can I use my HSA to pay for?

    You can spend your HSA funds on qualified medical expenses for you, your spouse, or any dependents you claim on your tax return.

    Your funds can be used to pay for thousands of qualified expenses approved by the IRS. You can use our searchable What’s Eligible tool to see what’s covered.

Other helpful resources

Check out our other tools to help you maximize your HSA savings.
HSA Contribution Limit Calculator

See how much you can contribute into your HSA.

Calculate
HSA Savings Calculator

See how much you can save with your HSA.

Calculate
Health Plan Cost Calculator

Compare two health plans and project your estimated cost.

Calculate

Set up your contributions

Work with employer to set up your ideal contribution through ER payroll.

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This HSA contribution 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 or accuracy of the calculator in regard to your individual circumstances. Your HSA eligibility may vary based on multiple factors and regulatory changes. If you lose eligibility mid-year, you may need to prorate your HSA contribution limit. Please seek the advice of a financial services and tax professional before making any type of investment decision.