| Expenses Without HSA | Savings Without HSA | Expenses With HSA | Savings With HSA | |
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Plan Specifications |
Deductible: $ Coinsurance: |
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Deductible: $ Coinsurance: |
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Estimated Annual Medical Expenses |
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Annual Premiums (A) |
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HSA Contribution (B) |
+ |
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+ |
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Tax Savings on Premium: Premium: Tax Rate: Allowable Deduction: (C) |
x .33 |
- |
x .33 |
- |
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Tax Savings on HSA: HSA Contribution: Tax Rate: (D) |
0 x .33 |
- |
x .33 |
- |
| Out of Pocket to Cover Deductible: (E) |
+ |
|
+ |
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| Out of Pocket to Cover Coinsurance: (F) |
+ |
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+ 0 |
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Total Out of Pocket Costs =(A+B) - (C+D) + (E+F) |
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| Amount of Current Year HSA Contribution Not Spent (You keep) |
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0 |
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The tax rate shown here is 33%. Change this number if your tax bracket is different.
Currently, the IRS allows a 70% deduction on health insurance premiums for self employed individuals.
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