Can I have both an HSA and an FSA?

Generally no, unless the FSA is a 'Limited Purpose FSA' (LPFSA) which covers only dental and vision expenses.

Are HSA/FSA contributions subject to FICA taxes?

If made via payroll deduction, they are exempt from Social Security and Medicare taxes (7.65%), providing even more savings than just income tax alone.

HSA vs FSA Calculator

Decide between an HSA or FSA by comparing tax savings, limits, and rollover rules for 2026.

Calculate Your Results

Adjust the values to see how your numbers change

HSA vs FSA: Which should you choose?

Both HSAs and FSAs allow you to pay for healthcare expenses with pre-tax dollars, saving you money on income taxes. However, they have very different rules regarding eligibility, ownership, and what happens to your money at the end of the year.

HSA (Health Savings Account): Available only to those with a High Deductible Health Plan (HDHP). The money is yours forever, can be invested, and rolls over annually.

FSA (Flexible Spending Account): Available through your employer. It is generally a "use-it-or-lose-it" account, meaning if you don't spend the balance by the end of the year (or grace period), the money goes back to the employer.

How to Use This Calculator

Check your Tax Rate - Enter your marginal tax bracket (federal + state) to see real dollar savings.
Select Coverage Type - Toggle between Single or Family coverage to see the correct 2026 limits.
Input Contribution - Enter the amount you plan to contribute annually from your paycheck.
Result Comparison - Review the chart to see total financial advantage including employer matches.

Calculation Formula & Example

The Formula

Tax Savings = Contribution Amount × Marginal Tax Rate

Where:

Contribution = The pre-tax amount deducted from your paycheck.
Tax Rate = Your highest tax bracket (e.g. 24% Fed + 5% State = 29%).

Example Calculation

If you contribute $3,000 to an HSA and your combined tax rate is 25%, you save $750 in taxes ($3,000 × 0.25). Effectively, your $3,000 contribution only 'costs' you $2,250 in take-home pay.

Benefits of Using This Calculator

Triple Tax Advantage - In an HSA, contributions are pre-tax, growth is tax-free, and withdrawals for medical expenses are tax-free.
Avoid Use-it-or-lose-it - Use this tool to avoid over-contributing to an FSA and losing money.
Investment Growth - See how much HSA space you have left to use as a secondary retirement vehicle.

Calculator Use Cases

Open Enrollment

Compare plans during your company's benefits selection period.

New Baby or Surgery

Estimate how much to set aside if you know you have upcoming medical costs next year.

Frequently Asked Questions

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