Estimate how much a Lively HSA could save you on taxes and premiums.

Get a picture of the financial benefits provided by a health savings account. Calculate how much you can potentially save over the course of a lifetime by making regular pre- and post-tax HSA contributions or investing your funds.

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.

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.

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

The estimated total amount you expect to contribute to your HSA each year.

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

The rate of return you expect to receive on unused funds which rollover from year to year in your HSA. This value is dependent on your plan to invest your HSA funds, and your risk tolerance will change based on market conditions.

The estimated amount of funds that you will have in your health savings account at your retirement age from making contributions and investing your funds.

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

The total contributions you will have made minus expenditures for qualified medical and healthcare costs by the year you may retire.

The estimated amount that your HSA contributions will grow based on your target rate of return and the estimated year you may retire.

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.

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

The IRS sets minimum-deductible and out-of-pocket maximums, as well as HSA-contribution limits for HDHPs and HSAs each year.

You can't be claimed as a dependent on anyone else's taxes and you can't contribute to an HSA once you start receiving Medicare Part A benefits.

Read more about HSA eligibility

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

The maximum HSA annual contribution limits for 2024 are $4,150 for individual coverage and $8,300 for family coverage. If you are 55 or older, you can contribute an additional $1,000 catch-up contribution.

The maximum contribution limits for 2023 are $3,850 for individuals and $7,750 for families. If you are 55 or older, you can contribute an additional $1,000 catch-up contribution.

You can read more about contribution limits in our HSA Guide.

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.

Other helpful resources


HSA Contribution Limit Calculator

See how much you can contribute into your HSA.


Health Plan Cost Calculator

Compare two health plans and project your estimated cost.


Payroll Tax Savings Calculator

See how much your company can save on payroll taxes.

Get the most out of your HSA

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

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