Healthcare & Insurance Calculators
Make smarter healthcare financial decisions with our comprehensive calculators. Compare health plans, optimize HSA vs FSA contributions, estimate healthcare costs, and plan for medical inflation. Navigate healthcare expenses with confidence.
Healthcare Calculators
HSA vs FSA Optimizer
Which pre-tax health account is right for you?
Compare Health Savings Account (HSA) vs Flexible Spending Account (FSA). Check eligibility, calculate tax savings, investment growth potential, and get personalized recommendations based on your health plan and financial situation.
Healthcare Cost & Coverage Optimizer
Compare health insurance plans
Comprehensive health insurance plan comparison tool. Calculate total annual costs including premiums, deductibles, copays, out-of-pocket max, and prescriptions. Find the optimal plan for your health needs and budget.
Healthcare Inflation Estimator
Plan for rising healthcare costs
Project future healthcare costs with medical inflation (historically 4-6%/year). Plan retirement healthcare expenses, Medicare gaps, and long-term care. Factor in healthcare inflation for financial planning.
Which Healthcare Calculator Should I Use?
| Calculator | Best For | Time | Complexity | Key Feature |
|---|---|---|---|---|
| HSA vs FSA Optimizer | Pre-tax account choice | 8 min | Medium | Eligibility + tax savings |
| Healthcare Cost Optimizer | Plan comparison | 10 min | Medium | Total cost analysis |
| Healthcare Inflation Estimator | Future cost planning | 6 min | Medium | Medical inflation projections |
Find Your Perfect Calculator
💰 Choosing Pre-Tax Healthcare Account?
→ Use HSA vs FSA Optimizer
- • Check: Eligibility for HSA (requires HDHP)
- • Compare: Tax savings HSA vs FSA
- • Decide: Which account fits your situation
- • Plan: Optimal contribution amount
- • Factor: Investment growth potential (HSA only)
HSA Benefits:
- • Triple tax advantage (deductible, growth, withdrawals)
- • Rolls over year to year (no "use it or lose it")
- • Can invest for retirement
- • Portable (keep if you change jobs)
FSA Benefits:
- • Available with any health plan
- • Full amount available Day 1
- • Lower out-of-pocket max typically
- • Dependent care FSA option
🏥 Choosing Health Insurance Plan?
→ Use Healthcare Cost & Coverage Optimizer
- • Compare: HDHP vs PPO vs HMO
- • Calculate: Total annual cost by plan
- • Factor: Your expected medical usage
- • Optimize: Premium vs deductible tradeoff
- • Decide: Best plan for your situation
Compare:
- • Monthly premiums
- • Annual deductibles
- • Copays and coinsurance
- • Out-of-pocket maximum
- • Prescription drug costs
- • Doctor network coverage
📈 Planning Future Healthcare Costs?
→ Use Healthcare Inflation Estimator
- • Project: Healthcare costs over time
- • Factor: Medical inflation (4-6%/year)
- • Plan: Retirement healthcare budget
- • Estimate: Medicare gap coverage
- • Save: Healthcare emergency fund
🤔 Not Sure Where to Start?
Start with Healthcare Cost Optimizer to compare your health plan options during open enrollment, then explore HSA vs FSA and future cost planning.
Frequently Asked Questions
HSA vs FSA Questions
Q: What's the difference between HSA and FSA?
A: HSA requires High Deductible Health Plan (HDHP), rolls over year-to-year, can be invested, triple tax advantage. FSA available with any plan, "use it or lose it" (with small rollover), funds available Day 1, no investment option. Use our HSA vs FSA Optimizer to compare.
Q: Can I have both HSA and FSA?
A: No, you can't have HSA and general FSA simultaneously. You can have HSA + Limited Purpose FSA (dental/vision only) or HSA + Dependent Care FSA.
Q: How much should I contribute to my HSA?
A: 2024 limits: $4,150 (individual), $8,300 (family), +$1,000 if 55+. Consider expected medical costs, emergency fund, and retirement healthcare savings. Many max it out for retirement savings. Use our calculator.
Q: What is the HSA triple tax advantage?
A: 1) Contributions are tax-deductible, 2) Growth is tax-free, 3) Withdrawals for qualified medical expenses are tax-free. No other account has all three benefits.
Q: Does HSA money roll over?
A: Yes! HSA funds never expire and roll over year to year. This is a major advantage over FSAs which have "use it or lose it" rules (though most allow $610 rollover or 2.5 month grace period).
Q: Can I invest my HSA?
A: Yes. Most HSA providers allow investing after maintaining minimum cash balance ($1,000-2,000). Invest in index funds for long-term growth. Think of HSA as retirement healthcare account.
Health Insurance Questions
Q: How do I choose between health insurance plans?
A: Calculate total annual cost = (Premium × 12) + Expected out-of-pocket costs based on your health needs. HDHP costs less upfront but higher deductible. Use our Healthcare Cost Optimizer to compare all plans.
Q: What is a High Deductible Health Plan (HDHP)?
A: Health plan with higher deductible ($1,600+ individual, $3,200+ family in 2024) and lower premiums. Required for HSA eligibility. Good for healthy people who want lower premiums and HSA benefits.
Q: Should I choose HDHP or PPO?
A: HDHP: Lower premiums, HSA eligibility, good for healthy people. PPO: Higher premiums, lower deductibles, better if you have ongoing medical needs. Use our calculator to model both scenarios with your expected costs.
Q: What's the difference between deductible and out-of-pocket max?
A: Deductible: Amount you pay before insurance starts paying (except preventive care). Out-of-pocket max: Maximum you'll pay in a year (includes deductible + copays + coinsurance). After reaching OOP max, insurance pays 100%.
Q: How much does health insurance cost?
A: 2024 average: $7,700/year individual, $22,000/year family (employer-sponsored). Marketplace/ACA plans vary widely by state and income (subsidies available). Self-employed: $450-900/month individual.
Healthcare Costs Questions
Q: How fast do healthcare costs rise?
A: Medical inflation averages 4-6% annually (higher than general inflation at 2-3%). Healthcare costs double roughly every 12-15 years. Use our Healthcare Inflation Estimator to plan for future costs.
Q: How much should I budget for healthcare?
A: Young/healthy: $3,000-5,000/year. Families: $8,000-15,000/year. Retirement: $6,000-12,000/year + supplemental. Factor in premiums, deductibles, prescriptions, dental, vision.
Q: What are average retirement healthcare costs?
A: Couple retiring at 65 needs $315,000 for healthcare in retirement (Fidelity 2023). Includes Medicare premiums, supplemental insurance, out-of-pocket costs, prescriptions. Doesn't include long-term care.
Q: What is medical cost sharing?
A: Alternative to insurance where members share medical costs. Lower monthly cost ($100-300/month vs $450+ insurance) but not technically insurance, limitations on coverage, and no ACA protections.
Eligible Expenses Questions
Q: What can I pay for with HSA/FSA?
A: Qualified medical expenses: Doctor visits, prescriptions, dental, vision, surgery, medical equipment, therapy, some over-the-counter items. See IRS Publication 502. FSA has slightly broader eligibility (depends on plan).
Q: Can I use HSA for dental and vision?
A: Yes! Dental cleanings, fillings, braces, eye exams, glasses, contacts, LASIK are all qualified expenses for HSA/FSA.
Q: Are over-the-counter medications HSA/FSA eligible?
A: Yes (as of 2020). Pain relievers, cold medicine, allergy medication, antacids, etc. are eligible without prescription. Keep receipts for tax records.
Key Healthcare Statistics (2024)
Health Insurance Costs
- • Average individual premium: $7,700/year
- • Average family premium: $22,000/year
- • Employee contribution average: 17% (individual), 30% (family)
- • Self-employed health insurance: $450-900/month
- • Marketplace average premium: $450-900/month (before subsidies)
Deductibles & Out-of-Pocket
- • Average individual deductible: $1,735
- • Average family deductible: $3,500
- • HDHP minimum deductible (2024): $1,600 (individual), $3,200 (family)
- • Average out-of-pocket maximum: $5,000 (individual), $10,000 (family)
- • Maximum OOP limit (ACA): $9,450 (individual), $18,900 (family)
HSA Contribution Limits (2024)
- • Individual: $4,150
- • Family: $8,300
- • Age 55+ catch-up: +$1,000
- • Total US HSA accounts: 35+ million
- • Average HSA balance: $4,300
FSA Limits (2024)
- • Healthcare FSA: $3,200
- • Dependent Care FSA: $5,000
- • Maximum rollover: $610 or 2.5 month grace period
- • No investment option
- • "Use it or lose it" (with exceptions)
Healthcare Costs & Inflation
- • Medical inflation rate: 4-6% annually
- • Healthcare costs doubling time: 12-15 years
- • Retirement healthcare (couple): $315,000 lifetime
- • Average ER visit: $1,400
- • Average hospital stay: $2,600/day
Medicare (Age 65+)
- • Medicare Part B premium (2024): $174.70/month
- • Medicare Part D (prescriptions): $30-100/month
- • Medigap supplemental: $150-350/month
- • Average retirement healthcare: $6,000-12,000/year
- • Medicare doesn't cover: Dental, vision, hearing, long-term care
Optimize Your Healthcare Spending Today
Choose the calculator for your situation:
Need healthcare advice? Use our calculators to make data-driven decisions during open enrollment.