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The following employer plan details may be dependent upon your coverage and other information:

Payroll frequency: i

Employer 401(k) Match: i

Employer HSA contributions: i

Employer HSA Match: i

What is your expected tax rate? i

As one way to utilize your contributions, it's assumed that: (1) you would prefer to cover HSA-qualified expenses and (2) get the best employer matches available with your contributions. After these assumptions, how would you like the rest of your contributions to be allocated (this setting may or may not affect the outcome)? i

Contribute to the HSA before the 401(k) - for unexpected expenses or as a flexible way to save for retirement (default)
Balance between the HSA and the 401(k)
Contribute to the 401(k) before the HSA

The amounts estimated for Self and Couple are based on average life expectancies and age-based medical costs. It is assumed that medical costs increase with inflation, and that your savings at retirement are invested to get a 0% return. You can also use one of the tools below and estimate the amount yourself:

AARP health care costs calculator
HealthView Services healthcare cost projector
ICMA-RC retirement health cost estimator
Search for others...

Cover your expected qualified expenses?

Paying your qualified expenses from your HSA allows you to pay with pre-tax funds, essentially getting a discount. Contributions to your HSA done through payroll are are not subject to federal income tax, Social Security, nor Medicare taxes. Also, anything you contribute to your HSA and don't use this year remains in the HSA for your future. By reducing your take-home pay by an extra $0.00 per pay period, you would be able to meet your expected expenses for the year, saving $0.00 in taxes.

Do you wish to increase your contributions to cover your qualified expenses?

Get your full employer match?

Your employer provides matching for up to $0.00 of your contributions, and you are not planning on getting all of the benefit. By reducing your take-home pay by an extra $0.00 per pay period you will end up getting $0.00 more per year from your employer. The extra combined savings this year could mean $0.00 by retirement.

Do you wish to increase your contribution to get the full employer match?

Save 0% of your income?

Many financial advisors suggest that you save at least 15% of your income towards retirement, including what your employer contributes. By reducing your take-home pay by an extra $0.00 per pay period (based on a 15% tax rate), you will end up saving 0%. The extra savings just this year could mean $0.00 by retirement.

Do you wish to increase your contribution to save 0% towards retirement?

Increase to $0.00?

By only decreasing your take-home pay by an extra $0.00 per pay period (based on a 15% tax rate), you would save an extra $0.00 this year, which could mean $0.00 by the time you retire.

Do you wish to increase your withholding to 0%?

Save 0% of your income?

By reducing your take-home pay by an extra $0.00 per pay period, you will end up saving 0% of your income. The extra savings just this year could mean $0.00 by retirement.

Do you wish to increase your contribution to save 0% towards retirement?

HSA home
Retirement Savings Maximizer

Maximize My Savings for

INSTRUCTIONS: This tool is intended to help you plan how much to contribute to both your HSA and 401(k) to best cover your expected health expenses now and during retirement.

Your information

What is the year of your birth? i

Total yearly pay (compensation)? i Note: the maximimum compensation for which employer matches will be considered is $270,000.

Total current HSA cash and investments? i

Total current 401(k) balance? i

Employee category? i

Medical coverage type? i

Self Family

Expected medical, vision, and dental expenses for the year? i

Average High Custom

HSA contributions from your employer wellness program you plan to earn
( available)? i

Click to see the details of your employer plan

Your employer

Payroll frequency? i

Employer HSA contributions? i

Offers HSA matching? i

No Yes

HSA match of?
(% match) i

on the first?
($ amount) i

Whole percentages for 401(k)? i

No Yes

Offers 401(k) matching? i

No Yes 2-Tier

401(k) match of?
(% match) i

on the first?
(% of pay) i

then a match of?
(% match) i

on the next?
(% of pay) i

Payroll withholding

How much would you like to save in your HSA and 401(k) together for your HSA-qualified expenses and towards retirement?

		Employer match	Maximum	Custom value
Withholding	i

Your HSA contribution	i
Your 401(k) contribution	i

Employer HSA contribution	i
Employer 401(k) contribution	i

You have chosen to deduct more from you paycheck then is possible. Please correct and continue.

You are missing out on $50.00 per year of your available employer match. It is recommended that you increase your withholding to get it all.

By withholding $50.00 each pay period going forward it is estimated that you will have $0.00 contributed into your HSA and $0.00 contributed into your 401(k) for the next year*.

*Note: This estimates is based on a full year of contributing the recommended amounts to each account. Because you are making these changes mid-year, the total contributed to your accounts this year may be significantly different from what is estimated.

Outcome

The following projection is based on you withholding $50.00 each pay period and saving $0.00 between your HSA and 401(k) each year towards retirement, increasing your contributions over time with inflation and investing your HSA.

Retirement Assumptions

At what age do you plan to retire? i

What do you expect the average inflation rate to be? i

Expected average rate of return

before retire? i

after retire? i

How much of your HSA will you keep in cash (not invested)? i

Amount needed at retirement for health costs? i

Self Couple Custom Click for help on this estimate.

Retirement Health Outcome

Health Expenses:

HSA:

401(k):

General assumptions:

You will save similarly for the next 20 years
Your contributions and expenses will increase with inflation
It is assumed that you will take advantage of the HSA "catch-up" contributions when you are eligible.
It is assumed that you will take advantage of the 401(k) "catch-up" contributions when you are eligible.

Will your HSA cover your retirement health expenses?

Congratulations, your HSA is projected to exceed an estimated $0 in medical expenses during retirement by $0K. The amount in your HSA that you don't use for qualified health expenses can be used just like a traditional 401(k) or IRA and would be taxed the same (taxed as ordinary income).

Congratulations, your HSA is projected to cover an estimated $0 in medical expenses during retirement. Any amount in your HSA that you don't use for qualified health expenses can be used just like a traditional 401(k) or IRA and would be taxed the same (taxed as ordinary income).

Unfortunately, you may have to use $13K from your 401(k) or other retirement sources (which may incur additional taxes) to cover an estimated $0 in medical expenses during retirement. Consider the following:

increase your HSA contributions
spend more effectively from your HSA, or pay out-of-pocket to let your HSA grow tax-free
adjust the retirement assumptions

Confirm

How does contributing $__ per pay period to your HSA compare to what you have been doing? i

Decrease Same Increase

How does contributing __% of your pay to your 401(k) compare to what you have been doing? i

Decrease Same Increase

I understand that I am responsibile to

ensure all HSA and 401(k) eligibility requirements as well as understand contribution limits,
follow my employer's guidelines to qualify for any of their contributions (matching or otherwise),
determine the amounts to defer to each of my accounts,
and make the changes to my payroll deferrals myself.

I understand my responsibilities

Summary

Based on the information you have input, the following is a summary of how much you can defer from your payroll to contribute towards your 401(k) and HSA.

401(k) - You would be contributing 15% of your pay (about $83.33 per pay period)

You would contribute $2,000 for the year
Your employer would contribute $1,250.00 for the year
NOTE: Consider whether you're taking advantage of the full employer match. For example, if you can't deduct fractional percentages of your salary towards your 401(k), contributing 20% now and increasing it towards the end of the year would allow you to max-contribute and get your full employer match each pay period.

Click on the following link provided by your employer to make the change: https://google.com

Please contact your employer if you don't know how to change your 401(k) contribution level.

HSA - You would be contributing $93.94 per pay period

You would contribute $2,254.56 for the year
Your employer would contribute $4,000.00 for the year
Estimated to spend is $2,000 and to save is $4,254.67

Click on the following link provided by your employer to make the change: https://google.com

Please contact your employer if you don't know how to change your HSA contribution level.

Send plan and summary to your email address i Enter email and click Send

DISCLAIMERS:

This tool is provided for informational and educational purposes only and does not constitute legal, tax, investment, medical, health savings account (HSA), or 401(k) advice. The results presented are hypothetical and may not reflect the actual performance of your HSA or 401(k). The tool does not account for some factors that can affect results (e.g., administration fees, loss of HSA eligibility, state taxes, etc.). HealthEquity is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by this tool, or for any human or mechanical errors or omissions. We strongly recommend that you consult a financial and/or tax professional before making any type of decision. We also encourage you to review your allocation and savings strategies periodically as your circumstances change.

HSAs are never taxed at a federal income tax level when used for IRS qualified medical expenses. After age 65, non-qualified HSA distributions may be subject to tax. Most states recognize HSA funds as tax-free with very few exceptions. Please consult a tax advisor regarding your state's specific rules.

Investments are subject to risk, including the possible loss of the principal invested, and are not FDIC or NCUA insured, or guaranteed by HealthEquity. Investing may not be suitable for everyone and before making any investments, review the fund's prospectus.

Cover your expected qualified expenses?

Get your full employer match?

Save 0% of your income?

Increase to $0.00?

Save 0% of your income?

Maximize My Savings for

Your infor­mation

Your em­ployer

Payroll with­holding

Out­come

Retirement Assumptions

Retirement Health Outcome

Will your HSA cover your retirement health expenses?

Confirm

Sum­mary

Your information

Your employer

Payroll withholding

Outcome

Summary