If you are enrolled in a GW HSP medical plan and have a Health Savings Account (HSA), there’s a new tool to help you visualize the “savings power” of your HSA with PayFlex. The new online HSA Calculator from Payflex makes it easier to see how contributing to your HSA and investing your HSA funds can make an impact on your future.
The calculator is divided into three parts:
- Contribute – Calculate tax savings
- Helps you determine potential tax savings for the year
- Provides a better understanding of the value of contributing to your HSA
- Save – Determine savings goal
- Find out how much you could save in taxes by the time you retire
- See what’s possible by growing your HSA balance for retirement
- Invest – Maximize savings potential
- Gives you a preview of how investing could boost your savings
- Helps determine the potential balance you could have at retirement — if you choose to invest
To access the calculator:
- Log in to payflex.com
- Within the HSA section of your dashboard, click Calculate my HSA savings under Account Actions.
- Get started by calculating your annual tax savings.
Questions?
Log into your PayFlex member website. Click Help & Support to email or chat with us. Or call us at 844.729.3539 (TTY: 711). We’re here to help Monday – Friday, 7 a.m. – 7 p.m. CT, and Saturday, 9 a.m. – 2 p.m. CT.
