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Health Savings Account (HSA) Contribution Calculator

More Info & Help

This Health Savings Account (HSA) calculator determines the amount you are allowed to contribute to your HSA account for the current tax year. The maximum amount of money that can be deposited into an HSA depends on several factors including the accountholder's age, and whether the person has single or family coverage. In general for 2012, if you have a qualifying High Deductible Health Plan (HDHP), you can contribute up to $3,100 if you have individual coverage or $6,250 if you have family coverage per year. Your total contribution can also be increased if you are age 55 to 65 by with a $1000 "catch-up" contribution.*

* These amounts are for 2012. These amounts are indexed annually for inflation.
** By checking the box you are indicating your spouse is 55 or older this year and that they are eligible to contribute into an HSA.
*** Your marginal tax rate is used to calculate your potential tax savings. We assume that all contributions receive a tax deduction at the tax rate you enter here.


Definitions

Health Savings Account (HSA)

What is your HDHP deductible amount?

What was the first full month your HDHP was in effect?

Will you be 55 or older this year?

Will your spouse be 55 or older this year?

What is your type of HDHP coverage?

Did you change your coverage type during the year?

What is the first full month your new coverage was in effect?

What is your new HDHP deductible amount?

What is your new type of HDHP coverage?

What is your marginal income tax rate?



Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their accuracy or their applicability to your circumstances. The information provided by these calculators is for illustrative purposes only. The information entered may vary from your actual loan, mortgage, investment, or savings results. Interest rates are hypothetical and are not meant to represent any specific investment or loan product. Rates of return may vary over time. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. The results are not guaranteed to be accurate and are in no way endorsed, offered or guaranteed by Valley National Bank.