Reach Your Health Savings Account Goal

HSA Information

The type of Health Savings Account plan you are saving to fund. Options are for either a single or family plan. The type of plan you have will impact your maximum monthly contribution.

Age 55 or older?

If you are age 55 or older, it will impact your maximum monthly contribution.

Spouse age 55 or older?

If your spouse is age 55 or older it will impact your maximum monthly contribution.

Plan deductible

The annual deductible for your High Deductible Health Plan. If you have monthly health care expenses, your HSA will be used to pay the annual deductible.

Your Information

HSA savings goal

The amount you want to save in your Health Savings Account.

Current HSA balance

The amount you currently have saved in your Health Savings Account.

Annual HSA savings

The amount you can save on a monthly basis for your Health Savings Account.

Years before retirement

The number of years before you retire and can save to fund your Health Savings Account.

Annual healthcare expenses

Your annual healthcare expenses.

Rate of return

The average rate of return you expect to receive Health Savings Account savings.

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HSA Savings Information
Maximum Annual Contribution	Planned Savings	Goal Savings

HSA Planned Savings vs Goal Savings
Savings Category	Amount
HSA Planned Savings
HSA Goal Savings

You should be saving money in an IRA or 401k to help fund your retirement years. You can also use a Health Savings Account (HSA) to boost retirement savings earmarked to cover medical expenses in retirement. Health savings accounts are not technically retirement plans, but you can make pre-tax contributions and the money deposited in your HSA will grow tax-free. Moreover, unlike Flexible Spending Accounts, you can roll over your HSA funds from one year to the next, and into retirement. You can also withdraw HSA funds at any time to pay for current qualified medical expenses. So, as you grow your HSA account balance to meet your retirement needs, you will want to consider those current medical expenses in your planning.

This calculator is intended for informational purposes only and is considered an estimate. The accuracy of this calculator is not guaranteed by General Electric Credit Union (GECU). The calculator and its results do not constitute the advice of, or reflect actual products, services, rates, and/or terms available. Nothing contained in the calculator shall constitute an offer or solicitation of a product or service by GECU. This calculator is not intended to offer any tax, legal, financial, or investment advice. Please consult with qualified advisors to discuss your specific needs.

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