Compare HSA vs. Traditional Health Plan

Compare a High Deductible Health Plan (HDHP) with a Health Savings Account (HSA) vs. a traditional health plan using this calculator and estimate the possible savings that HDHP with HSA can help you achieve.

Explanation of the fields that need to be filled:

Annual doctor visits

Fill in the usual number of visits to the doctor's office you do per year.

Annual prescriptions

Fill in the usual number of prescriptions you get per year.

Marginal income tax rate

In order to determine and fill in your marginal income tax rate you can use the table below.

Filing Status and Income Tax Rates (2013*)
Tax rate Single Head of household Married filing jointly or qualified widow(er) Married filing separately
10% $0 - $8,925 $0 - $12,750 $0 - $17,850 $0 - $8,925
15% $8,925 - $36,250 $12,750 - $48,600 $17,850 - $72,500 $8,925 - $36,250
25% $36,250 - $87,850 $48,600 - $125,450 $72,500 - $146,400 $36,250 to $73,200
28% $87,850 - $183,250 $125,450 - $203,150 $146,400 - $223,050 $73,200 to $111,525
33% $183,250 - $398,350 $203,150 - $398,350 $223,050 - $398,350 $111,525 to $199,175
35% $398,350 - $400,000 $398,350 - $450,000 $398,350 - $450,000 $199,175 to $225,000
39.60% over $400,000 over $450,000 over $450,000 over $225,000

*Note: Use the table only to figure 2013 taxes. Do not use them for 2012 estimates.
Source: Revenue Procedure 2011-52 http://www.irs.gov

Annual HSA contributions

Fill in the amount you expect to contribute into an HSA account annually.

Remember that such contributions are tax deductible but have a maximum contribution limit. For further details, check out our HSA Contribution Calculator.

Monthly premium

Fill in the monthly premiums for your proposed health insurance options.

Annual deductible

The deductible amount that you are required to pay annually before health insurance begins coverage.

In 2013, this minimum HDHP deductible amount is $2,500 for family coverage and $1,250 for single coverage.

Annual out-of-pocket

This field is for the maximum annual out-of-pocket for your health insurance; in other words, the maximum amount of expenses that you could incur annually with your proposed coverage.

In 2013, the highest annual HDHP out-of-pocket that is allowed is $6,250 for single coverage and $12,500 for family coverage.

Co-insurance

Fill in here the health care costs (as a percentage of your total costs) that your insurance will cover when those costs exceed your annual deductible.

It is assumed that you will continue paying this percentage until you reach your maximum out of pocket for this year.

Co-pay for doctor visits and prescriptions

Fill in the fee that you pay respectively for each doctor's visit and each prescription.

Note that these fees do not count toward your maximum annual out of pocket or your annual deductible.

Other expenses

Fill in all other expenses that normally your health insurance covers (e.g. additional lab fees).

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