See How Much You Could Save
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Save $$$ with a Hiveworks HSA
Without an HSA, you need to take $5,838 in salary to cover $4,000 in health spending.
$1,838 goes to taxes due to a 31.48% marginal tax rate before you even pay for your healthcare.
$1,838 goes to taxes due to a 31.48% marginal tax rate before you even pay for your healthcare.
With a Hiveworks Annual HSA:
Your company pays $4,659 as a business expense, reducing taxable income.
This includes your $4,000 in health spending, the HSA fee, and required taxes.
You save $1,179 by eliminating the need to withdraw taxable salary for medical costs.
Show Calculation Details
How we calculated your savings
Step 1: Calculate pre-tax salary needed: $5,838 = $4,000 ÷ (1 - 31.48%)
Step 2: Determine tax amount: $1,838 = $5,838 - $4,000
Step 4: Your savings: $1,179 = $5,838 - $4,659
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Results from this calculator are for illustrative purposes only. Savings estimates are based on the information provided and may vary depending on individual circumstances. Potential savings from the Medical Expense Tax Credit (METC) are not included in this estimate.
For accurate tax information, please consult with a qualified tax professional.
For accurate tax information, please consult with a qualified tax professional.
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