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Patient tool · HSA & FSA

Grow your HSA calculator

Compare investing your HSA and paying small bills from cash against spending it as you go.

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Uses 2026 figures
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Your results will appear here.
Adjust the numbers, then press Calculate.

Assumptions
  • Monthly contributions and costs, monthly compounding, no fees. Investment returns are not guaranteed and can be negative.
  • HSA withdrawals for qualified medical expenses are tax-free; after 65, other withdrawals are taxed like a traditional IRA.
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Most people use their Health Savings Account (HSA) like a checking account for medical bills. If you can afford to pay smaller bills from your regular budget, you can leave HSA money invested instead, where it grows tax-free. This calculator shows the difference over time.

How it works

You enter your current balance, what goes in each year (including any employer money), what you spend on medical care each year, how many years to look ahead, and an expected investment return.

The calculator follows two paths:

  • Invest: every contribution stays in the account and grows. You pay medical bills from cash and keep the receipts.
  • Spend as you go: each year's medical costs come out of the HSA, and only what's left grows.

It also adds up the receipts you'd collect on the invest path. You can reimburse yourself for those later, tax-free, whenever you need the money.

Example

Alex has $2,000 in an HSA, adds $4,400 a year and spends about $1,500 a year on care. With a 7% return over 20 years:

  • Investing and paying bills from cash grows the HSA to roughly $200,000.
  • Spending as you go leaves roughly $130,000.
  • Alex would also hold about $30,000 in receipts that could be reimbursed later, tax-free.

Is this right for you?

Investing your HSA only helps if paying medical bills from cash doesn't put you into debt or drain your emergency savings. Start small if you're unsure, and keep enough cash in the HSA to cover your deductible.

FAQ

Frequently asked questions

Is there a deadline to reimburse myself?

No. As long as the expense happened after you opened the HSA and you keep the receipt, you can reimburse yourself years later.

What can I invest HSA money in?

Many HSA providers offer mutual funds or index funds once your balance passes a minimum. Investments can lose value, so many people keep a cash cushion in the account.

What happens to my HSA at 65?

Medical withdrawals stay tax-free. Other withdrawals are taxed as income, like a traditional IRA, but no longer carry the 20% penalty.

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