HSA Tax Savings Calculator

See exactly how much
you're leaving on the table.

Move two sliders. Watch the IRS give you money back. No account required — just the math.

$75/mo
$25$300
Annual tax saved
$198
at ~22% effective rate
Balance at graduation
$756
after covered expenses
Without HSA (2 yrs)
$1,440
full post-tax cost
Where your money goes
With HSA
$900/yr
Without
$1,098/yr

Estimates assume ~22% combined fed + state marginal rate for ~$12K part-time income. 2026 HSA contribution limit: $4,300 individual. Not tax advice.

Find Your HSA Plan in 90 SecondsJust show me the math → PDF worksheet
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IRS-eligible expenses

Things you already pay for.
Now tax-free.

The IRS list has 200+ eligible items. Here are the ones your group chat has definitely Googled.

Mental HealthMost claimed
Therapy copay (weekly)
$960/year·$80/mo
Prescriptions
Generic Lexapro (30-day)
$456/year·$38/mo
Prescriptions
Generic Adderall (30-day)
$504/year·$42/mo
Vision
Annual eye exam
$75/year
Vision
Contact lenses (3-month)
$336/year·$28/mo
DentalYou've been postponing this
Wisdom teeth extraction
$400/year
Dental
Cleaning + X-ray
$280/year
Primary Care
Campus clinic copay
$60/year
Primary Care
Urgent care visit
$150/year
EmergencyCovered
ER visit (one time)
$650/year
Devices
CPAP / sleep apnea device
$180/year
Feminine CareSince 2020
Menstrual care products
$144/year·$12/mo
Average student's annual eligible expenses
$1,847
Tax you'd save on that amount
~$406
Calculate mine →

Prices reflect 2026 national averages. Actual costs vary by pharmacy, provider, and insurance plan.

Side-by-side breakdown

HSA vs. FSA vs.
just paying for it.

For a student with $1,200/year in medical costs and a part-time job.

Best for you
HSA
Health Savings Account

Triple tax advantage: contributions, growth, and withdrawals are all tax-free for medical expenses.

2026 contribution limit$4,300
Rolls over each yearYes ✓
Earns interest / investsYes ✓
Requires HDHPYes
Tax on contributionsNone
Tax on withdrawalsNone (medical)
Effective cost of $1,000 in medical bills$780
Employer-only
FSA
Flex Spending Account

Pre-tax dollars through your employer — but you lose unused funds at year-end.

2026 contribution limit$3,300
Rolls over each yearUp to $660
Earns interest / investsNo
Requires HDHPNo
Tax on contributionsNone
Tax on withdrawalsNone (medical)
Effective cost of $1,000 in medical bills$780
What you're doing now
OOP
Out of Pocket

Paying medical bills with after-tax dollars. Every dollar spent is a dollar fully taxed.

2026 contribution limitN/A
Rolls over each yearN/A
Earns interest / investsNo
Requires HDHPNo
Tax on contributionsFull rate
Tax on withdrawalsAlready taxed
Effective cost of $1,000 in medical bills$1,000
HSA savings by income bracket — $1,200/yr medical expenses
$12K (part-time)
$14412%
$24K (full-time)
$26422%
$45K (first job)
$52822%

Based on 2026 federal brackets + average 10% state rate. Actual savings vary.

Compound growth projection

Your HSA doesn't stop
at graduation.

Unlike an FSA, your HSA balance rolls over every year — and earns interest. Start at $75/month junior year, leave school with a real financial asset.

HSA balance
Out-of-pocket spend
$0$2.25K$4.5K$6.75K$9KGraduationSophJrSrY+1Y+3Y+5$7,800
Monthly contribution
$75
Balance at graduation
$1,860
Balance at year 5
$7,800
Tax saved (5 yrs)
$990

Assumes $75/month contribution from junior year, 4.5% average annual return after graduation, $1,200/yr in qualified expenses. Illustrative only.

→
After 65, you can withdraw for anything — not just medical.
An HSA effectively becomes a traditional IRA at retirement. Starting at 20 means 45 years of compound growth. The student who opens one today is not just saving on therapy copays — they're building a retirement account.
90-second assessment

Find your HSA plan.

Five questions. Personalized savings number. No account required.

StartStep 1 of 5Results
Question 1 of 5

Are you on a high-deductible health plan?

An HDHP has a deductible of at least $1,650/year. Check your parents' insurance card or the plan name — "HDHP," "HSA-eligible," or a deductible over $1,600 usually means yes.

Just show me the math — download PDF worksheet, no email required