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HSI: Health Savings Illustrator
How much could you save in an HSA account in 2 years? 10 years? by retirement? HSI from Assurant Health shows you! The answer depends on your age, how much you deposit and how much you use. Review the sample highlighted cells below. Contact your local insurance agent for an HSI demonstration on how much you can save.
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SAMPLE |
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Enter your birthday - mm/dd/yyyy |
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5/12/1962 |
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| 2 |
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Enter your spouse's birthday - mm/dd/yyyy |
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9/22/1964 |
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| 3 |
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Enter the first full month you are covered by a high deductible health plan |
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February |
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Enter the year you will begin depositing money into your HSA account |
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2007 |
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Indicate whether you have a single or family deductible |
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Family |
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| 6 |
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Enter your planned total annual deposit amount |
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$5,000 |
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The maximum allowable amount is $2,850 (single) and $5,650 (family). If you are an employee, consider the amount BOTH you and your employer may deposit. |
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HSI defaults to an assumed interest rate of 0% (this is the default). |
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0% |
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If you would like to see the financial impact of using a different interest rate, select a rate from the drop down box. |
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Health Savings Illustrator |
Year 1
Year 2
Year 5
Year 10 |
Funds Used (%) |
| 0% |
25% |
50% |
75% |
| $ 5,000 |
$ 3,750 |
$ 2,500 |
$ 1,250 |
| $ 10,000 |
$ 7,500 |
$ 5,000 |
$ 2,500 |
| $ 25,000 |
$ 18,750 |
$ 12,500 |
$ 6,250 |
| $ 50,000 |
$ 37,500 |
$ 25,000 |
$ 12,500 |
| Employee Age 65 |
$ 122,666 |
$ 91,999 |
$ 61,333 |
$ 30,666 | |
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The Health Savings Illustrator shows how an HSA may work. Illustrated results assume:
- Current regulation of HSAs, including allowable contribution amounts, remains unchanged.
- Each individual remains HSA-eligible to age 65 and then enrolls in Medicare.
- Annual interest is applied to average annual account balance.
- Individual and spouse make maximum catch-up amounts to separate accounts beginning at age 55.
- Funds withdrawn to pay eligible expenses do not add to accumulated funds.
Interest rates are not guaranteed. Your experience may vary.
HSAs are not a pension or retirement plan. HSAs should not be purchased in lieu of a qualified pension or retirement plan.
This is not tax or legal advice, which should only be sought from a qualified professional advisor. |
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