This tool is designed to help you compare an High Deductible Health Plan (HDHP) with a Health Savings Account (HSA) to a traditional health plan. By using HDHP/HSA solution, you can often realize significant savings on your insurance premiums and receive a deduction on your income taxes. Use this calculator to determine the possible savings.

Definitions

Annual prescriptions

Number of prescriptions you expect to fill annually.

Annual doctor visits

Number of times you expect to visit the doctor's office annually.

Marginal income tax rate

Use the table below to help you choose the appropriate federal marginal income tax rate.

Filing Status and Income Tax Rates 2009 Caution: Do not use these tax rate schedules to figure 2008 taxes. Use only to figure 2009 estimates.
Tax rate	Married filing jointly or Qualified Widow(er)	Single	Head of household	Married filing separately
10%	$0 - 16,700	$0 - 8,350	$0 - $11,950	$0 - 8,350
15%	$16,701- 67,900	$8,351- 33,950	$11,951- 45,500	$8,351- 33,950
25%	$67,901- 137,050	$33,951- 82,250	$45,501- 117,450	$33,951- 68,525
28%	$137,051- 208,850	$82,251- 171,550	$117,451- 190,200	$68,526- 104,425
33%	$208,851- 372,950	$171,551- 372,950	$190,200- 372,950	$104,425- 186,475
35%	over $372,950	over $372,950	over $372,950	over $186,475

Source: http://www.irs.gov/pub/irs-drop/rp-08-66.pdf

Monthly premium

Monthly premium for your proposed health insurance options.

Annual deductible

Annual deductible that you are required to pay before your health insurance begins coverage. We assume that after this threshold has been reached that your insurance covers 100% of your expenses. In 2009, for a HDHP, the minimum deductible amount is $1,150 for self-only coverage and $2,300 for family coverage.

Maximum annual out-of-pocket

Maximum out-of-pocket in a given year for your health insurance. This is the maximum total expense that you could incur in a given year with your proposed coverage. In 2009, for a HDHP, the highest annual out-of-pocket expense allowed is $5,800/individual coverage and $11,600/family coverage.

Co–pay for doctor visits and prescriptions

The fee you pay for each prescription and/or doctor's visit. These payments do not count toward your annual deductible or your maximum out of pocket expense.

Co–insurance

The percentage of your healthcare costs that your insurance will cover after your costs exceed your annual deductible. You are assumed to continue to pay this percentage of your healthcare costs until you reach your annual maximum out of pocket expense.

Other expenses

Any other expenses that would normally be covered by your health insurance. This would include lab fees and services other than prescriptions and doctor visits. Don't include medical expenses not normally covered by your insurance such as some elective surgery, contact lens solution or over the counter medications.

HSA Contributions

Total you expect to contribute to an HSA account per year. All contributions to a HSA account are tax deductible and withdrawals for qualified medical expenses are not subject to income tax. For 2009, the maximum contribution to a HSA is $3,000 for self-only coverage and $5,950 for family coverage.

HSA current balance

Total amount you have in an existing HSA account. If you do not have an HSA plan at this time this amount should be $0.