Retiree Health Savings Account Calculator
Plan HSA growth before Medicare and tax-free withdrawals after.
Contribution Strategy
Coverage:individual
Max Limit:$ 5150
Catch-up (age 55+):$1,000
Your Contribution:$ 4000
Years Until Medicare:5
Last year to contribute: 2030. Cannot contribute after Medicare enrollment.
HSA Growth to Medicare
Starting Balance:$ 30000
Balance at Medicare:$ 60391
Assumes 5% annual return and $ 4000 contributions for 5 years.
Tax Savings
Annual Tax Savings:$ 960
Total Contribution Savings:$ 4800
Tax-Free Withdrawals:$ 24000
Assumes 24% marginal tax rate. Triple tax advantage: deductible contributions, tax-free growth, tax-free withdrawals.
HSA vs Taxable Account
HSA Balance at Medicare:$ 60391
Taxable Equivalent:$ -24124
HSA Advantage:$ 108515
Taxable account loses 24% of gains to taxes annually.
Post-Medicicare Use
Annual Withdrawal:$ 5000
Est. Medicare Premiums:$ 3000/yr
Can use HSA for Medicare Part B, D, and supplemental premiums. Cannot contribute after Medicare, but can still withdraw.
HSA Retirement Strategy
- Maximize contributions before age 65/Medicare enrollment
- Catch-up: extra $1,000/year if age 55+
- Cannot contribute after Medicare (Part A or B)
- Can still use HSA funds after Medicare (tax-free)
- Use for Medicare premiums, long-term care insurance
- After 65, can withdraw for non-medical (penalty-free, but taxed)
- Consider HSA as additional retirement account