KJE.Default.SINGLE_COVERAGE=0;KJE.Default.FAMILY_COVERAGE=1;KJE.Default.COVERAGE_INDEX=[KJE.Default.SINGLE_COVERAGE,KJE.Default.FAMILY_COVERAGE];KJE.Default.COVERAGE_SELECTION=["Single","Family"];KJE.Default.MAXIMUM_INDIVIDUAL=3850;KJE.Default.MAXIMUM_FAMILY=7750;KJE.Default.MINIMUM_INDIVIDUAL=1500;KJE.Default.MINIMUM_FAMILY=3000;KJE.Default.CATCHUP_AGE=55;KJE.Default.CATCHUP_AMOUNT=1000;KJE.Default.MAXIMUM_POCKET_INDIVIDUAL=7500;KJE.Default.MAXIMUM_POCKET_FAMILY=15000;KJE.Default.RETIREMENT_CREDIT=500;KJE.Default.PREMIUM_DEFAULT_HSA_INDIVIDUAL=300;KJE.Default.PREMIUM_DEFAULT_HSA_FAMILY=1000;KJE.Default.PREMIUM_DEFAULT_TRAD_INDIVIDUAL=500;KJE.Default.PREMIUM_DEFAULT_TRAD_FAMILY=1400;KJE.Default.TRAD_DEFAULT_DEDUCTIBLE_INDIVIDUAL=1400;KJE.Default.TRAD_DEFAULT_DEDUCTIBLE_FAMILY=2500;KJE.Default.TRAD_DEFAULT_POCKET_INDIVIDUAL=5000;KJE.Default.TRAD_DEFAULT_POCKET_FAMILY=10000;KJE.parameters.set("PPO_EMPLOYEE_PREMIUM_SINGLE",2000);KJE.parameters.set("PPO_EMPLOYER_PREMIUM_SINGLE",4700);KJE.parameters.set("PPO_EMPLOYEE_PREMIUM_FAMILY",5650);KJE.parameters.set("PPO_EMPLOYER_PREMIUM_FAMILY",13150);KJE.parameters.set("HDHP_EMPLOYEE_PREMIUM_SINGLE",1850);KJE.parameters.set("HDHP_EMPLOYER_PREMIUM_SINGLE",4250);KJE.parameters.set("HDHP_EMPLOYEE_PREMIUM_FAMILY",5300);KJE.parameters.set("HDHP_EMPLOYER_PREMIUM_FAMILY",12300);KJE.Default.HSALimitsDefinition="This table shows the limits for HSA's in 2023.
HSA Contribution Limit | Single: $3,850 Family: $7,750 | Single: $3,650 Family: $7,300 | Single: +$200 Family: +$450 |
---|
HSA catch-up contributions* | $1,000 | $1,000 | No change, not indexed to inflation |
---|
HDHP minimum deductible | Single: $1,500 Family: $3,000 | Single: $1,400 Family: $2,800 | Self-only: +$100 Family: +$200 |
---|
HDHP maximum out-of-pocket** | Single: $7,500 Family: $15,000 | Single: $7,050 Family: $14,100 | Single: +$450 Family: +$900 |
---|
Please note, you are no longer eligible to make HSA contributions starting in the first month that you are eligible for and enrolled in Medicare Part A or B.
Source and complete details on HSAs you may wish review: About Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans";KJE.definitions.set("**HSA_LIMITS_DEFINITION**",KJE.Default.HSALimitsDefinition);KJE.definitions.set("**HSA_MINDEDUCTIBLE_DEFINITION**","In 2023, for a HDHP, the minimum deductible amount is $1,500 for self-only coverage and $3,000 for family coverage.");KJE.definitions.set("**HSA_OUTOFPOCKET_DEFINITION**","For 2023, the HSA out-of-pocket maximum is $7,500 for self only coverage and $15,000 for family coverage.");KJE.definitions.set("**HSA_MAXIMUMCONTRIBUTION_DEFINITION**","For 2023, the maximum contribution to an HSA is $3,850 for self-only coverage and $7,750 for family coverage.");KJE.HSAGoalCalc=function(){this.YEARS_TO_SAVE=0;this.INSURANCE_DEDUCTIBLE_AMOUNT=0;this.TYPE_OF_INSURANCE_COVERAGE=0;this.MAXIMUM_ANNUAL_CONTRIBUTION=0;this.MONTHLY_ALLOWABLE_CONTRIBUTION=0;this.INFLATION_RATE=0;this.MSG_ERROR1=KJE.parameters.get("MSG_ERROR1","Deductible amount must be MINIMUM_INDIVIDUAL or greater for individual HDHPs.");this.MSG_ERROR2=KJE.parameters.get("MSG_ERROR2","Deductible amount must be MINIMUM_FAMILY or greater for family HDHPs.");this.MSG_ERROR5=KJE.parameters.get("MSG_ERROR5","Your current spending exceeds your maximum HSA contribution.");this.MSG_ERROR6=KJE.parameters.get("MSG_ERROR6","Deductible amount must be MAXIMUM_POCKET_INDIVIDUAL or less for individual HDHPs.");this.MSG_MADE=KJE.parameters.get("MSG_MADE","You are on track to meet your goal.");this.MSG_FAIL=KJE.parameters.get("MSG_FAIL","You need to make a few changes in your plan.");this.MSG_CHANGE_FAIL=KJE.parameters.get("MSG_CHANGE_FAIL","With a current balance of AMT_CURRENT, to reach your target of AMT_TARGET in YEARS_TO_SAVE years you need net savings of USE_SAVE_MONTH per month and have a rate of return of ROR_INVEST. Unfortunately, you are limited to a maximum monthly contribution of AMT_SAVE_MONTH. You may need to reduce your spending or change your HDHP to allow you to save more and meet your goal.");this.MSG_CHANGE_MADE=KJE.parameters.get("MSG_CHANGE_MADE","With a current balance of AMT_CURRENT, to reach your target of AMT_TARGET in YEARS_TO_SAVE years you need net savings of USE_SAVE_MONTH per month and have a rate of return of ROR_INVEST.");this.sSchedule=new KJE.Repeating()};KJE.HSAGoalCalc.prototype.clear=function(){this.AMT_TARGET=0;this.AMT_CURRENT=0;this.AMT_SPEND_MONTH=0;this.ROR_INVEST=0;this.PLAN_OWNER_FIFTYFIVE=false;this.PLAN_SPOUSE_FIFTYFIVE=false};KJE.HSAGoalCalc.prototype.calculate=function(A){var g=KJE;var k=this.AMT_TARGET;var B=this.AMT_CURRENT;var l=this.AMT_SPEND_MONTH;var u=this.ROR_INVEST;var z=12;var n=this.YEARS_TO_SAVE;if(this.TYPE_OF_INSURANCE_COVERAGE==KJE.Default.SINGLE_COVERAGE&&this.INSURANCE_DEDUCTIBLE_AMOUNTKJE.Default.MAXIMUM_POCKET_INDIVIDUAL){throw (KJE.replace("MAXIMUM_POCKET_INDIVIDUAL",g.dollars(KJE.Default.MAXIMUM_POCKET_INDIVIDUAL),this.MSG_ERROR6))}if(this.TYPE_OF_INSURANCE_COVERAGE==KJE.Default.FAMILY_COVERAGE&&this.INSURANCE_DEDUCTIBLE_AMOUNT>KJE.Default.MAXIMUM_POCKET_FAMILY){throw (KJE.replace("MAXIMUM_POCKET_FAMILY",g.dollars(KJE.Default.MAXIMUM_POCKET_FAMILY),this.MSG_ERROR7))}if(this.TYPE_OF_INSURANCE_COVERAGE==KJE.Default.SINGLE_COVERAGE){this.MAXIMUM_ANNUAL_CONTRIBUTION=KJE.Default.MAXIMUM_INDIVIDUAL}else{this.MAXIMUM_ANNUAL_CONTRIBUTION=KJE.Default.MAXIMUM_FAMILY}if(this.PLAN_OWNER_FIFTYFIVE){this.MAXIMUM_ANNUAL_CONTRIBUTION+=KJE.Default.CATCHUP_AMOUNT}if(this.PLAN_SPOUSE_FIFTYFIVE&&this.TYPE_OF_INSURANCE_COVERAGE==KJE.Default.FAMILY_COVERAGE){this.MAXIMUM_ANNUAL_CONTRIBUTION+=KJE.Default.CATCHUP_AMOUNT}else{this.PLAN_SPOUSE_FIFTYFIVE=false}this.MONTHLY_ALLOWABLE_CONTRIBUTION=g.round(this.MAXIMUM_ANNUAL_CONTRIBUTION/12,2);var m=this.MONTHLY_ALLOWABLE_CONTRIBUTION;var t=n*z;var w=KJE.ROR_PERIOD(u/100,z);var p=m-l;if(p<0){throw this.MSG_ERROR5}var a=KJE.HSAGoalCalc.solveForSaveAmt(k,B,w,t,p);var r="";var e=false;var o="";var q=0;if(a+l<=m){r=this.MSG_MADE;e=true;o=this.MSG_CHANGE_MADE;q=a}else{r=this.MSG_FAIL;e=false;o=this.MSG_CHANGE_FAIL;q=m-l}var y=this.DS_NEW=KJE.FloatArray(n);var f=this.DS_AFI=KJE.FloatArray(n);var j=this.cats=KJE.FloatArray(n);if(A){var h=this.sSchedule;h.clearRepeat();h.addHeader(h.sReportCol("Year",1),h.sReportCol("Interest",2),h.sReportCol("Amount Saved",3),h.sReportCol("Amount Spent",4),h.sReportCol("Balance",5));h.addRepeat(" "," "," "," ",g.dollars(B))}var d=KJE.HSAGoalCalc.solveAmtAtYear;var C=g.round(d(0,q,B,z,w),2);var c=0;var x=C;for(var v=0;vKJE.FV_AMT(e,c,b)+KJE.FV_BEGIN(e,c,d))};KJE.CalcName="Health Savings Account (HSA) Goal Calculator";KJE.CalcType="HSAGoal";KJE.CalculatorTitle="Health Savings Account (HSA) Goal Calculator";KJE.parseInputs=function(a){sCalculateByDrop=KJE.getDropBox("TYPE_OF_INSURANCE_COVERAGE",KJE.parameters.get("TYPE_OF_INSURANCE_COVERAGE",KJE.Default.SINGLE_COVERAGE),KJE.Default.COVERAGE_INDEX,KJE.Default.COVERAGE_SELECTION);a=KJE.replace("**TYPE_OF_INSURANCE_COVERAGE**",sCalculateByDrop,a);return a};KJE.initialize=function(){KJE.CalcControl=new KJE.HSAGoalCalc();KJE.GuiControl=new KJE.HSAGoal(KJE.CalcControl)};KJE.HSAGoal=function(c){this.MSG_GRAPH2=KJE.parameters.get("MSG_GRAPH2","Your maximum net savings of KJE1 per month leaves you short.");this.MSG_GRAPH3=KJE.parameters.get("MSG_GRAPH3","Net savings of KJE1 per month should allow you to meet your goal.");this.MSG_GRAPH1=KJE.parameters.get("MSG_GRAPH1","Ending Balance");this.MSG_GRAPH4=KJE.parameters.get("MSG_GRAPH4","After inflation");KJE.DollarSlider("INSURANCE_DEDUCTIBLE_AMOUNT","HDHP deductible amount",0,KJE.Default.MAXIMUM_POCKET_FAMILY,0,0,1);KJE.DollarSlider("AMT_CURRENT","Current HSA balance",0,10000000,0,0,3);KJE.DollarSlider("AMT_TARGET","HSA savings goal",0,10000000,0,0,3);KJE.DollarSlider("AMT_SPEND_MONTH","Monthly health care expenses",0,90000,0,0,9);KJE.InvestRateSlider("ROR_INVEST","Annual rate of return");KJE.NumberSlider("YEARS_TO_SAVE","Years before retirement",0,45,0);KJE.DropBox("TYPE_OF_INSURANCE_COVERAGE","HDHP coverage type");KJE.InflationRateSlider("INFLATION_RATE","Expected inflation rate");KJE.Checkbox("PLAN_OWNER_FIFTYFIVE","You are 55+",false,"Check here if you, as the plan owner, will be 55 or older this year.");KJE.Checkbox("PLAN_SPOUSE_FIFTYFIVE","Spouse is 55+",false,"Check here if your spouse will be 55 or older this year.");var a=KJE.gNewGraph(KJE.gCOLUMN,"GRAPH1",true,false,KJE.colorList[1],"KJE1");a._axisX._fSpacingPercent=0.1;a._legend.setVisible(true);a._titleXAxis.setText(KJE.parameters.get("MSG_GRAPH4","balance by year"));var b=KJE.parameters.get("MSG_DROPPER_TITLE","Health Savings Account (HSA) Goal Calculator Inputs:");KJE.addDropper(new KJE.Dropper("INPUTS",true,b,b),KJE.colorList[0])};KJE.HSAGoal.prototype.setValues=function(b){var a=KJE.inputs.items;b.INSURANCE_DEDUCTIBLE_AMOUNT=a.INSURANCE_DEDUCTIBLE_AMOUNT.getValue();b.TYPE_OF_INSURANCE_COVERAGE=a.TYPE_OF_INSURANCE_COVERAGE.getValue();b.AMT_SPEND_MONTH=a.AMT_SPEND_MONTH.getValue();b.ROR_INVEST=a.ROR_INVEST.getValue();b.YEARS_TO_SAVE=a.YEARS_TO_SAVE.getValue();b.AMT_CURRENT=a.AMT_CURRENT.getValue();b.AMT_TARGET=a.AMT_TARGET.getValue();b.INFLATION_RATE=a.INFLATION_RATE.getValue();b.PLAN_OWNER_FIFTYFIVE=a.PLAN_OWNER_FIFTYFIVE.getValue();if(b.TYPE_OF_INSURANCE_COVERAGE==KJE.Default.FAMILY_COVERAGE||(b.CHANGE_IN_COVERAGE&&b.NEW_TYPE_OF_COVERAGE==KJE.Default.FAMILY_COVERAGE)){a.PLAN_SPOUSE_FIFTYFIVE.enable();b.PLAN_SPOUSE_FIFTYFIVE=a.PLAN_SPOUSE_FIFTYFIVE.getValue()}else{a.PLAN_SPOUSE_FIFTYFIVE.disable();b.PLAN_SPOUSE_FIFTYFIVE=false}};KJE.HSAGoal.prototype.refresh=function(e){var d=KJE;var c=KJE.gLegend;var b=KJE.inputs.items;var a=KJE.gGraphs[0];a.removeAll();a._showItemLabel=(e.DS_NEW.length<8);a.setGraphCategories(e.cats);a.add(new KJE.gGraphDataSeries(e.DS_NEW,this.MSG_GRAPH1+" ",a.getColor(1),d.dollars(e.ENDING_BALANCE),this.MSG_GRAPH1+" "+KJE.MSG_YEAR_LBL));a.add(new KJE.gGraphDataSeries(e.DS_AFI,this.MSG_GRAPH4+" ",a.getColor(2),d.dollars(e.AMOUNT_SAVED_AFI),this.MSG_GRAPH4+" "+KJE.MSG_YEAR_LBL));a.setTitleTemplate(KJE.getKJEReplaced((e.MADE_IT?this.MSG_GRAPH3:this.MSG_GRAPH2),d.dollars(e.USE_SAVE_MONTH,2)));a.paint()};KJE.InputScreenText=" **GRAPH1** ";KJE.DefinitionText=" Health Savings Account (HSA)An HSA is a tax-advantaged account established to pay for qualified medical expenses of an account holder who is covered under a high-deductible health plan. With money from this account, you pay for health care expenses until your deductible is met. Any unused funds are yours to retain in your HSA and accumulate towards your future health care expenses or your retirement.In order to put money into an HSA you are required to have a High Deductible Health Plan (HDHP) in effect for either you or your family. A HDHP is simply health insurance that meets certain minimum deductible and maximum out-of-pocket expense requirements. **HSA_LIMITS_DEFINITION**
High Deductible Health Plan (HDHP) deductible amountYour HDHP deductible amount is the amount you pay toward your own medical expenses, in a given year, before your insurance begins to cover any expenses. **HSA_MINDEDUCTIBLE_DEFINITION**
High Deductible Health Plan (HDHP) coverage typeChoose the insurance coverage type for your HDHP. Your choices are 'Family' or 'Single'. HSA savings goalThe amount you wish to have in your HSA account when you retire. Years before retirementThe number of years you will be able to save (contribute) into your HSA before you retire. Current Health Savings Account (HSA) balanceThe total amount currently saved in your HSA. Monthly health care expensesThe amount per month you expect to spend on qualifying medical expenses. Annual rate of returnThis is the annual rate of return you expect to receive on your HSA funds. **ROR_DEFINITION** Expected inflation rate**INFLATION_DEFINITION** You are 55+Check here if you, as the plan owner, will be 55 or older this year. Your age is used to determine if you are eligible to contribute additional catch-up contributions to your HSA. If you are 55 or older and your HDHP is in effect, you are eligible to deposit catch-up contributions. The catch-up contribution amount is $1,000 which is not indexed for inflation. By checking the box you are indicating you are 55 or older this year and are still covered by an HDHP. Catch-up contributions are not prorated. You can deposit the entire amount into your HSA as long as you are 55 or older at some point during the year.
Spouse is 55+Check here if your spouse will be 55 or older this year. Your spouse's age is used to determine what catch-up contribution amount they can deposit into their own HSA. By checking the box you are indicating your spouse is 55 or older this year and that they are eligible to contribute into an HSA. Please note, your spouse must have an HSA account established in their name and be eligible to make contributions into that account. For example, if your spouse is covered by your family HDHP and is over 55, but has enrolled in Medicare, they would be ineligible to make a catch-up contribution. ";KJE.ReportText=' CHANGE_MSG **GRAPH** High Deductible Health Plan (HDHP) coverage type | TYPE_OF_INSURANCE_COVERAGE |
High Deductible Health Plan (HDHP) deductible amount | INSURANCE_DEDUCTIBLE_AMOUNT |
HSA savings goal | AMT_TARGET |
Years before retirement | YEARS_TO_SAVE |
Current Health Savings Account (HSA) balance | AMT_CURRENT |
Monthly healthcare expenses | AMT_SPEND_MONTH |
Annual rate of return | ROR_INVEST |
Owner eligible for catch-up contributions? | PLAN_OWNER_FIFTYFIVE |
Spouse eligible catch-up contributions? | PLAN_SPOUSE_FIFTYFIVE |
Maximum monthly contribution* | AMT_SAVE_MONTH |
**REPEATING GROUP** ';
// 01/01/2023 Copyright 2023 KJE Computer Solutions, Inc. Licensed for use on learn.hellofurther.com learn-capitalbluecross.hellofurther.com learn-carefirst.hellofurther.com learn-horizonmyway.hellofurther.com learn-mymoneybcbsvt.hellofurther.com selectaccount-prod2.mindtouch.us