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HSA Savings Calculator

How much are you leaving on the table?

See what your HSA could be worth if you invest instead of spend -- and track every receipt for tax-free withdrawals later.

Your numbers
Annual out-of-pocket medical expenses$3,000
What you spend on copays, prescriptions, dental, vision, and other HSA-eligible expenses each year.
$0$15,000
Annual HSA contribution$4,400
2026 limits: $4,400 individual / $8,750 family.
$0$8,750
Annual contribution growth3%
IRS contribution limits have risen around 3% per year historically. Assume the same for future years so your contributions keep pace.
Federal tax bracket22%
Your marginal federal rate.
State income tax rate5%
Estimate. Use 0% if you live in a state with no income tax.
Expected annual return7.0%
S&P 500 historical average: around 10% nominal, 7% real.
3.0%12.0%
Years until you reimburse20 years
There is no IRS time limit on HSA reimbursement.
5 yrs40 yrs
Your HSA could be worth
$242,883tax-free
After 20 years at 7.0% return, with contributions rising 3% per year to track IRS limits.
Total contributions
$118,230
Investment growth
$124,653
Tax savings from HSA
$40,967
Unreimbursed expenses over 20 years$60,000
If you cannot produce receipts, the IRS treats withdrawals as non-qualified -- subject to ordinary income tax plus a 20% penalty.
Potential penalty exposure$12,000
HSA IQ costs $19/year. That is $380 over 20 years to protect $60,000 in tax-free withdrawals.

HSA Balance Over Time

7.0% return · 20 years
$0$63k$125k$188k$250kYr 1Yr 5Yr 9Yr 13Yr 17Yr 20
Based on 7.0% annual return compounded over 20 years, starting at $4,400 per year and rising 3% annually to match projected IRS limits. Past performance does not predict future results.

How the Shoebox Strategy Works

STEP 01

Pay out of pocket

Cover medical expenses with post-tax dollars. Keep every receipt with the five data points the IRS requires: patient, provider, date, service, and amount.

STEP 02

Let your HSA grow

Contribute up to the annual limit, invest the balance, and let compound growth work tax-free. No required minimum distributions, no time pressure.

STEP 03

Reimburse yourself anytime

Withdraw tax-free against your documented expenses -- next year, ten years from now, or when you retire. There is no deadline and no penalty once you are 65.

For informational purposes only. Not tax advice. Consult a qualified tax professional before making HSA decisions.

Track every HSA expense and receipt across decades.

So you never lose a dollar of tax-free reimbursement. HSA IQ stores itemized receipts with all five IRS-required data points, year after year.

Start your free trial
$19/year individual · $29/year family

Frequently asked

Correct. IRS Notice 2004-50, Q&A-39 confirms that an HSA distribution can reimburse qualified medical expenses from any prior year, as long as the expense was incurred after the HSA was established. There is no deadline.