See how much room you have left to contribute to your HSA this year and estimate your tax savings.
Health Savings Account contributions are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses - making them one of the most tax-advantaged accounts available.
Remaining Room = Annual Limit - Amount Already Contributed
Potential Tax Savings = Remaining Room × Marginal Tax Rate
With a $4,150 limit, $1,500 already contributed, and a 22% tax rate, you have $2,650 of room left, worth about $583 in potential tax savings if maxed out.
It compares your planned contributions against the annual IRS limit for your coverage type (individual or family), which is set and updated each tax year.
Contributions are typically tax-deductible (or pre-tax through payroll), growth is tax-free, and withdrawals for qualified medical expenses are also tax-free — a rare triple tax advantage.
Excess contributions are generally subject to a 6% excise tax each year they remain in the account unless corrected, so it's important to stay within the annual limit.