Fine-Tune HSA to Fit into Your Retirement Goals

If you are looking at the Health Savings Account as a retirement account too, this calculator will help you estimate what you need to do to achieve your goal and carry over the desired amount into your retirement.

About Health Savings Accounts (HSA)

For further details on HSAs you can visit the U.S. Treasury at

HSAs are tax-advantaged accounts available to anyone enrolled in a qualified High Deductible Health Plan (HDHP). Contributions to these accounts are made tax-free and accumulated funds earn interest. HSAs pay tax-free for the qualified medical expenses of their account holders.

Any unused funds that have remained in the account, whether contributed by the employer or the employee, are the employee's to use for future health care expenses or for retirement.

Explanation of the fields that need to be filled:

HDHP coverage type

Choose the coverage type for your HDHP – either 'family' or 'single'.

HDHP deductible amount

Fill in the average amount you pay toward your medical expenses, in a given year, before the insurance begins to cover such expenses.

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

HSA savings goal

Fill in your desired amount in the HS account that you want to have when you get to retirement.

Current HSA balance

Fill in the amount you currently have saved in your HS account.

Years before retirement

How many years you have till retirement (the years you will be able to contribute to your HSA).

Monthly heath care expenses

The amount you expect to spend every month for qualifying medical expenses.

Annual rate of return

Fill in the expected annual rate of return on your HSA funds.

You should note that this is a hypothetical number – your rate of return will depend largely on the types of investments you choose and their performance.