HSA vs FSA Calculator 2024-2025
Compare Health Savings Account vs Flexible Spending Account
Your Information
Latest IRS Rules 2024-2025
- HSA 2024 Limits: $4,150 individual, $8,300 family, +$1,000 catch-up (age 55+)
- FSA 2024 Limits: $3,200 per participant, +$640 rollover allowed (employer discretion)
- HDHP Requirements 2024: Min deductible $1,600/$3,200, Max OOP $8,050/$16,100
- Triple Tax Advantage: HSA contributions are tax-deductible, grow tax-free, withdraw tax-free for medical
- FSA Use-It-Or-Lose-It: Up to $640 can roll over (employer choice) or 2.5 month grace period
- HSA Portability: Account stays with you when changing jobs
HSA vs FSA Calculator 2024-2025: How to Choose & Compare
Choosing between a Health Savings Account (HSA) and a Flexible Spending Account (FSA) can be tricky. While there’s no single physical calculator, using a simple decision framework—your personal “HSA vs FSA calculator”—helps you compare key rules and maximize your savings.
How to Use HSA vs FSA Calculator
Think of this as a side-by-side checklist. Run your situation through these three critical questions to get your “result.”
Step 1: Check Your Health Plan Eligibility
This is the most important filter.
· HSA: You must be enrolled in a High-Deductible Health Plan (HDHP). For 2024, that means a deductible of at least $1,600 (self) or $3,200 (family). For 2025, these rise to $1,650 and $3,300.
· FSA: You simply need an employer who offers it, with almost any health plan type.
Step 2: Weigh the “Use-It-or-Lose-It” Rule
· HSA: Your money rolls over year after year, forever. It’s your account.
· FSA: You generally forfeit unused funds at year’s end (though some plans offer a $610 rollover or a 2.5-month grace period).
Step 3: Compare the 2024-2025 Numbers
Input the annual limits into your decision.
· HSA Contribution Limits:
· 2024: $4,150 (self) / $8,300 (family)
· 2025: $4,300 (self) / $8,550 (family)
· Plus a $1,000 catch-up if you’re 55+.
· FSA Contribution Limits:
· 2024: $3,200
· 2025: $3,250
FAQ: (HSA vs FSA Calculator)
Q: Which has better long-term benefits?
A:The HSA is uniquely powerful. Funds roll over, you can invest them for growth, and they are yours forever, acting like a supplemental retirement account for medical costs.
Q: What if I have predictable medical expenses?
A:An FSA is excellent for planned costs like glasses, therapy co-pays, or dental work, as the full annual amount is available upfront.
Q: Can I have both?
A:Very rarely. You generally cannot contribute to both a general-purpose FSA and an HSA in the same year.
Final Calculation: If you have an HDHP and can afford the higher deductible, the HSA’s triple tax advantage and rollover make it the top choice for flexibility and growth. Use the FSA for predictable expenses on a non-HDHP plan.