Planning Tools

Health Care Savings Calculator

Use this calculator to help you determine your potential savings when using a PayFlex health care account (FSA or HSA) for your eligible out-of-pocket expenses.

*Savings estimates assumes annual IRS FSA and HSA contribution limits or your total expenses, whichever is less. You should consult with your employer to determine the exact limits defined by your plan. For purposes of this calculation, a savings of 21% is used to assume Federal, state and social security taxes avoided by making pretax contributions. Please be advised that this calculation is only an estimate and is not tax advice. Be sure to consult a tax advisor to determine actual savings you may achieve by making pretax contributions. Actual tax savings depends on several variables, including state and local tax rates, your individual tax bracket and FICA tax rate.

Please contact your employer's benefits representative if you have questions about how your specific plan works. Carefully plan your contribution. Remember with an FSA, unused funds may be forfeited following the end of your plan year.

Dependent Care Savings Calculator

Use this calculator to help you determine your dependent care contribution amount and potential savings for the plan year. Keep the following in mind when estimating your expenses:

• This is for dependent care costs for children under 13; elderly parents; spouse or other relative incapable of self-care who spend at least 8 hours each day in your home.

• Amounts you pay for dependent care while you are off work due to vacation, holidays, illness or injury are ineligible expenses.

• Your employer will deduct your pretax contributions from your paycheck (in equal amounts during the year) and deposit into your dependent care FSA. This means your full contribution won’t be available at the beginning of the plan year.

• You may want to consult a tax professional to determine if a dependent care FSA or the deduction on your annual tax return is the right choice for you and your family. For a general idea, use our tax credit calculator.

*Savings estimates assumes annual IRS FSA and HSA contribution limits or your total expenses, whichever is less. You should consult with your employer to determine the exact limits defined by your plan. For purposes of this calculation, a savings of 21% is used to assume Federal, state and social security taxes avoided by making pretax contributions. Please be advised that this calculation is only an estimate and is not tax advice. Be sure to consult a tax advisor to determine actual savings you may achieve by making pretax contributions. Actual tax savings depends on several variables, including state and local tax rates, your individual tax bracket and FICA tax rate.

Please contact your employer's benefits representative if you have questions about how your specific plan works. Carefully plan your contribution. Remember with an FSA, unused funds may be forfeited following the end of your plan year.

Dependent Care Tax Credit Calculator

Use this calculator to help you determine the best way for you and your family to take advantage of the tax savings allowed by the IRS. You can take advantage of the dependent care FSA through your employer (if offered) OR take the Federal Tax Credit when you file your income tax return at the end of the year. Both are designed to help you save tax dollars on the money you spend for eligible dependent care expenses. Generally, if your household income is greater than $26,000.00 per year, a dependent care FSA will save you more money.

Please be advised that this calculation is only an estimate and is not tax advice. Be sure to consult a tax advisor to determine actual savings you may achieve. Actual tax savings depends on several variables, including state and local tax rates and your individual tax bracket.