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HSA Tax Savings Example
Health Savings Accounts Offer Substantial Tax Savings
Substantial tax savings can result from maximizing your contribution to your Health Savings Account. The examples below do not include savings on state income taxes. All but a very few of the states that have state income taxes allow deductions for HSA contributions. More information can be found on our HSA state income tax page.
Health Savings Accounts offer generous deductions on Federal income tax for any deposits made to the account. See the charts below, or use our HSA Tax Savings Calculator.
Reduction in Federal Income Tax from HSA Contributions in 2009
(Illustrative Examples)
Single Taxpayer:
HSA Contribution |
Income Level |
|||||
$20,000 |
$40,000 |
$60,000 |
$80,000 |
$100,000 |
$120,000 |
|
$500 |
$75 |
$75 |
$125 |
$125 |
$140 |
$140 |
|
$1,000 |
$150 |
$150 |
$250 |
$250 |
$280 |
$280 |
|
$1,500 |
$225 |
$225 |
$375 |
$375 |
$420 |
$420 |
|
$2,000 |
$300 |
$300 |
$500 |
$500 |
$560 |
$560 |
|
$2,500 |
$375 |
$375 |
$625 |
$625 |
$700 |
$700 |
|
$2,650 |
$397 |
$397 |
$662 |
$662 |
$742 |
$742 |
Head of Household with 1 Dependent Child:
HSA Contribution |
Income Level |
|||||
$20,000 |
$40,000 |
$60,000 |
$80,000 |
$100,000 |
$120,000 |
|
|
$1,000 |
$100 |
$150 |
$250 |
$300 |
$250 |
$250 |
|
$2,000 |
$200 |
$300 |
$500 |
$600 |
$500 |
$500 |
|
$3,000 |
$300 |
$450 |
$750 |
$900 |
$750 |
$750 |
|
$4,000 |
$400 |
$600 |
$900 |
$1,200 |
$1,000 |
$1,000 |
|
$5,000 |
$500 |
$750 |
$1,050 |
$1,500 |
$1,250 |
$1,250 |
|
$5,250 |
$525 |
$788 |
$1,088 |
$1,563 |
$1,313 |
$1,313 |
Married Couple with No Dependents:
HSA Contribution |
Income Level |
|||||
$20,000 |
$40,000 |
$60,000 |
$80,000 |
$100,000 |
$120,000 |
|
|
$1,000 |
$100 |
$150 |
$150 |
$150 |
$250 |
$250 |
|
$2,000 |
$200 |
$300 |
$300 |
$300 |
$500 |
$500 |
|
$3,000 |
$300 |
$450 |
$450 |
$450 |
$750 |
$750 |
|
$4,000 |
$360 |
$600 |
$600 |
$600 |
$1,000 |
$1,000 |
|
$5,000 |
$360 |
$750 |
$750 |
$750 |
$1,250 |
$1,250 |
|
$5,250 |
$360 |
$788 |
$788 |
$788 |
$1,312 |
$1,312 |
Married Couple with 2 Dependent Children:
HSA Contribution |
Income Level |
|||||
$20,000 |
$40,000 |
$60,000 |
$80,000 |
$100,000 |
$120,000 |
|
|
$1,000 |
$0 |
$150 |
$150 |
$150 |
$250 |
$300 |
|
$2,000 |
$0 |
$300 |
$300 |
$300 |
$500 |
$600 |
|
$3,000 |
$0 |
$430 |
$450 |
$450 |
$750 |
$900 |
|
$4,000 |
$0 |
$530 |
$600 |
$600 |
$1,000 |
$1,200 |
|
$5,000 |
$0 |
$630 |
$750 |
$750 |
$1,250 |
$1,500 |
|
$5,250 |
$360 |
$655 |
$788 |
$788 |
$1,312 |
$1,562 |
HSA for America and its affiliates are not engaged in rendering tax, investment or legal advice. Federal and state tax regulations are subject to change. If tax, investment or legal advice is required, seek the services of a licensed professional.
