HSA Savings Calculator - mgbtpa._savings

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					                                         HSA Savings Calculator

By changing you current health insurance plan to one with a high deductible and an HSA, you may
realize savings that result in additional money in your paycheck.

By using this calculator you can determine what your savings will be.

Enter your current Monthly Premium
           then your current annual premium =             $0
Enter your anticipated Monthly Premium
       then your anticipated annual premium =             $0

By changing plans, the amount you will save
                on your annual premium is:                $0

The savings in the highlighted blue field above could be used to fund your HSA. By putting this
amount in your HSA, you are spending the same amount on health care as in the current year, but
instead of paying just your premiums, you have also put aside money to pay towards your deductible

Enter the deductible for your new plan

The deductible is the maximum amount that can be put in the HSA. This is also your maximum out-
of-pocket expense for the year. So, if you fully fund your HSA you will be able to pay all of your
health care expenses pre-tax through distributions from the HSA.

Assume that you place 100% of your savings on annual premium (from the blue field) into your HSA.
The difference between your savings and the maximum allowed contribution to the HSA is:

 By changing plans there is no change in your annual premium savings.
     You can contribute additional money to your HSA, in the amount of           $0

Assume that you fully fund your HSA, but your claim amount does not exceed your deductible. The
unused portion of your HSA will roll over to the next year.

Enter your anticipated claims for the year                $0
          Unused portion of fully funded HSA =            $0

The unused portion of your HSA will automatically roll over to the following year. It can be used at
any point in the future for qualified medical expenses. After the account holder reaches age 65, the
HSA can be taken out for retirement expenses, taxed at a rate similar to an IRA.