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HSA vs FSA Calculator

An HSA (Health Savings Account) and FSA (Flexible Spending Account) both let you pay for medical expenses with pre-tax dollars, but they have very different rules. HSAs are only available with high-deductible health plans (HDHPs) and have a $4,150 individual / $8,300 family limit in 2026, but the money rolls over forever and can be invested. FSAs are available with any health plan, have a $3,300 limit, but money expires at year-end (with up to $640 carryover).

Use this calculator to compare your after-tax savings with each account type, decide which is better for your situation, and plan your annual election. Most people who qualify for an HSA should max it before contributing to an FSA.

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Disclaimer: This calculator uses simplified 2026 limits: HSA $4,300 self / $8,550 family; FSA $3,300. Actual limits and eligibility depend on your specific HDHP plan. For personalized advice, consult a tax professional or benefits administrator.

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Frequently Asked Questions

What's the difference between HSA and FSA?

HSAs require a high-deductible health plan, have higher contribution limits ($4,150 individual / $8,300 family in 2026), and money rolls over forever (no use-it-or-lose-it). FSAs are available with any health plan, have lower limits ($3,300 in 2026), and most expire at year-end.

Can I have both HSA and FSA?

You can have both, but FSA contributions are limited to 'limited-purpose' (dental and vision only) if you're also enrolled in an HSA. This is a common workaround for people who want the HSA's tax advantages but also want pre-tax dental/vision savings.

What can I use HSA money for?

HSA money can be used for any qualified medical expense: doctor visits, prescriptions, dental, vision, mental health, and (since 2020) over-the-counter medications and menstrual care products. After age 65, you can withdraw HSA money for any reason (taxed as ordinary income, like a traditional IRA).

Is HSA better than a 401k?

For most people, yes — HSAs are 'triple tax advantaged' (deductible going in, grows tax-free, withdraws tax-free for medical). 401(k)s are double tax advantaged (deductible going in, grows tax-free, taxed on withdrawal). Max your HSA after you max your employer 401(k) match.

Can I invest my HSA?

Yes — most HSA providers (Fidelity, Lively, HealthEquity) let you invest your balance in mutual funds or ETFs, just like a 401(k). The money grows tax-free. This is one of the HSA's biggest advantages over an FSA — you can build long-term wealth while saving for medical expenses.