KJE.Default.TaxRate=24;KJE.Default.TaxRateRetire=22;KJE.Default.TaxRateCapGain=15;KJE.Default.StateTaxRate=8;KJE.Default.IncomeTaxTableCurrent="Use the ‘Filing Status and Federal Income Tax Rates on Taxable Income’ table to assist you in estimating your federal tax rate.
Filing Status and Federal Income Tax Rates on Taxable Income for 2023*
Tax RateMarried Filing Jointly or Qualified Widow(er)SingleHead of HouseholdMarried Filing Separately
10%$0 - $22,000$0 - $11,000$0 - $15,700$0 - $11,000
12%$22,000 - $89,450$11,000 - $44,725$15,700 - $59,850$11,000 - $44,725
22%$89,450 - $190,750$44,725 - $95,375$59,850 - $95,350$44,725 - $95,375
24%$190,750 - $364,200$95,375 - $182,100$95,350 - $182,100$95,375 - $182,100
32%$364,200 - $462,500$182,100 - $231,250$182,100 - $231,250$182,100 - $231,250
35%$462,500 - $693,750$231,250 - $578,125$231,250 - $578,125$231,250 - $346,875
37%Over  $693,750Over  $578,125Over  $578,125Over  $346,875
*Caution: Do not use these tax rate schedules to figure 2022 taxes. Use only to figure 2023 estimates. Source: Rev. Proc. 2022-45
";KJE.Default.StandardDeductionCurrent="
Standard Deduction for 2023 Federal Income Tax
Filing StatusStandard Deduction
Married Filing Joint$27,700
Qualified Widow(er)$27,700
Single$13,850
Heads of Household$20,800
Married Filing Separately$13,850
";KJE.Default.CapitalGainsRatesCurrent="long-term capital gains are taxed at lower, special capital gains rates and are calculated as follows (note that qualified dividends are taxed as if they were a long-term capital gain):
Long-term Capital Gain Tax Rates 2023*
Tax RateMarried Filing Jointly or Qualified Widow(er)SingleHead of HouseholdMarried Filing Separately
0%$0 - $89,250$0 - $44,625$0 - $59,750$0 - $44,625
15%$89,250 - $553,850$44,625 - $492,300$59,750 - $523,050$44,625 - $276,900
20%Over $553,850Over $523,050Over $492,300 Over $276,900
*Caution: Do not use these tax rate schedules to figure 2022 taxes. Use only to figure 2023 estimates. Source: Rev. Proc. 2022-45
";KJE.Default.IncomeTaxTableTaxYear="Use the ‘Filing Status and Federal Income Tax Rates on Taxable Income’ table to assist you in estimating your federal tax rate.
Filing Status and Federal Income Tax Rates on Taxable Income for 2022*
Tax RateMarried Filing Jointly or Qualified Widow(er)SingleHead of HouseholdMarried Filing Separately
10%$0 - $20,550$0 - $10,275$0 - $14,650$0 - $10,275
12%$20,550 - $83,550$10,275 - $41,775$14,650 - $55,900$10,275 - $41,775
22%$83,550 - $178,150$41,775 - $89,075$55,900 - $89,050$41,775 - $89,075
24%$178,150 - $340,100$89,075 - $170,050$89,050 - $170,050$89,075 - $170,050
32%$340,100 - $431,900$170,050 - $215,950$170,050 - $215,950$170,050 - $215,950
35%$431,900 - $647,850$215,950 - $539,900$215,950 - $539,900$215,950 - $323,925
37%Over  $647,850Over  $539,900Over  $539,900Over  $323,925
*Caution: Do not use these tax rate schedules to figure 2021 taxes. Use only to figure 2022 estimates. Source: Rev. Proc. 2021-45
";KJE.Default.StandardDeductionTaxYear="
Standard Deduction for 2022 Federal Income Tax
Filing StatusStandard Deduction
Married Filing Joint$25,900
Qualified Widow(er)$25,900
Single$12,950
Heads of Household$19,400
Married Filing Separately$12,950
";KJE.Default.CapitalGainsRatesTaxYear="Long-term capital gains are taxed at lower, special capital gains rates and are calculated as follows (note that qualified dividends are taxed as if they were a long-term capital gain):
Long-term Capital Gain Tax Rates 2022*
Tax RateMarried Filing Jointly or Qualified Widow(er)SingleHead of HouseholdMarried Filing Separately
0%$0 - $83,350$0 - $41,675$0 - $55,800$0 - $41,675
15%$83,350 - $517,200$41,675 - $459,750$55,800 - $488,500$41,675 - $258,600
20%Over $517,200Over $488,500Over $459,750 Over $258,600
*Caution: Do not use these tax rate schedules to figure 2021 taxes. Use only to figure 2022 estimates. Source: Rev. Proc. 2021-45
";KJE.definitions.set("**TAXCAPGAINS_CURRENT_DEFINITION**",KJE.Default.CapitalGainsRatesCurrent);KJE.definitions.set("**TAXCAPGAINS_TAXYEAR_DEFINITION**",KJE.Default.CapitalGainsRatesTaxYear);KJE.definitions.set("**TAXTABLE_CURRENT_DEFINITION**",KJE.Default.IncomeTaxTableCurrent);KJE.definitions.set("**TAXTABLE_TAXYEAR_DEFINITION**",KJE.Default.IncomeTaxTableTaxYear);KJE.definitions.set("**STANDARDDEDUCTION_CURRENT_DEFINITION**",KJE.Default.StandardDeductionCurrent);KJE.definitions.set("**STANDARDDEDUCTION_TAXYEAR_DEFINITION**",KJE.Default.StandardDeductionTaxYear);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.
Health Savings Accounts (HSA) Contribution and Limits
20232022Change
HSA Contribution LimitSingle: $3,850
Family: $7,750
Single: $3,650
Family: $7,300
Single: +$200
Family: +$450
HSA catch-up contributions*$1,000$1,000No change, not indexed to inflation
HDHP minimum deductibleSingle: $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
*Catch-up contributions can be made anytime during the year in which the participant turns 55.
**This includes deductible amount, co-payments and other non-premium payments.

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.HSAvsTraditionalCalc=function(){this.MSG_ERROR1="Annual deductible must be less than your maximum out of pocket expense.";this.MONTHLY_PREMIUM=KJE.FloatArray(2);this.ANNUAL_DEDUCTIBLE=KJE.FloatArray(2);this.MAXIMUM_ANNUAL_OUT_OF_POCKET=KJE.FloatArray(2);this.OTHER_EXPENSE=KJE.FloatArray(2);this.CO_INSURANCE=KJE.FloatArray(2);this.CO_PAY=KJE.FloatArray(2);this.CO_PAYDOC=KJE.FloatArray(2);this.HSA_CONTRIBUTIONS=KJE.FloatArray(2);this.bIncludCopaysInMaxOOP=KJE.parameters.get("INCLUDE_COPAYS_IN_OUTOFPOCKET_TOTAL",true);this.AVG_COST_PRESCRIPTIONS=KJE.parameters.get("AVG_COST_PRESCRIPTIONS",50);this.AVG_COST_DOCTOR_VISITS=KJE.parameters.get("AVG_COST_DOCTOR_VISITS",50);this.ANNUAL_PREMIUM=KJE.FloatArray(3);this.ESTIMATED_MEDICAL_EXPENSES=KJE.FloatArray(3);this.ESTIMATED_HSA_WITHDRAWALS=KJE.FloatArray(3);this.ESTIMATED_HSA_TAX_SAVINGS=KJE.FloatArray(3);this.TOTAL_ANNUAL_COST=KJE.FloatArray(3);this.TOTAL_MONTHLY_COST=KJE.FloatArray(3);this.HSA_UNUSED_BALANCE=0;this.bUseCopay=[false,true];this.MSG_HSA_BALANCE=[KJE.parameters.get("MSG_HSA_BALANCE1","Your entire HSA_CONTRIBUTIONS1 HSA contribution can be paid from HDHP qualified plan premium savings."),KJE.parameters.get("MSG_HSA_BALANCE2","Your HSA_CONTRIBUTIONS1 HSA contribution can be paid in part from HDHP qualified plan premium savings.")];this.DS_NEW=KJE.FloatArray(2);this.cats=[KJE.parameters.get("MSG_GRAPHCAT1","HSA"),KJE.parameters.get("MSG_GRAPHCAT2","Traditional")]};KJE.HSAvsTraditionalCalc.prototype.clear=function(){var b=this.MONTHLY_PREMIUM.length;for(var a=0;aA[x]){throw (this.MSG_ERROR1)}q[x]=m[x]*12;n=(e[x]?0:f*w+u*v)+r[x];var p=(e[x]?f*C[x]+v*d[x]:0);if(nA[x]){k[x]=A[x]+(c?0:p)}else{k[x]=l+(c?0:p)}}h[x]=(k[x]>t[x]?t[x]:k[x]);s[x]=j.round(t[x]*(o/100),0);a[x]=q[x]+k[x]-s[x];z[x]=j.round(a[x]/12,2)}q[2]=q[1]-q[0];k[2]=k[1]-k[0];h[2]=h[1]-h[0];s[2]=s[1]-s[0];a[2]=a[1]-a[0];z[2]=z[1]-z[0];this.HSA_UNUSED_BALANCE=t[0]-h[0];for(var x=0;xthis.ANNUAL_PREMIUM[2]?1:0)],e)}for(var b=0;b

Input information:
HSA
Input information:
Traditional
**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**

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
Your estimated Federal marginal income tax rate. **TAXTABLE_CURRENT_DEFINITION**
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. **HSA_MINDEDUCTIBLE_DEFINITION**
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. A HDHP must also have a maximum out-of-pocket expense per year. **HSA_OUTOFPOCKET_DEFINITION**
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 health care costs that your insurance will cover after your costs exceed your annual deductible. You are assumed to continue to pay this percentage of your health care 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 an HSA account are tax-deductible and withdrawals for qualified medical expenses are not subject to income tax. **HSA_MAXIMUMCONTRIBUTION_DEFINITION**
";KJE.ReportText='

A HDHP with a HSA could save you TOTAL_MONTHLY_COST3 per month.

MSG_HSA_BALANCE Your unused HSA account balance is HSA_UNUSED_BALANCE for the year which rolls over to next year, tax-free (state taxes may vary). **GRAPH**
Input Summary
Annual prescriptions ANNUAL_PRESCRIPTIONS
Annual doctor visits ANNUAL_DOCTOR_VISITS
Marginal income tax rate MARGINAL_INCOME_TAX_RATE
HSA vs. Traditional Input Summary
 HDHP Qualified PlanTraditional Health Plan
Monthly premium MONTHLY_PREMIUM1 MONTHLY_PREMIUM2
Annual deductible ANNUAL_DEDUCTIBLE1 ANNUAL_DEDUCTIBLE2
Maximum annual out-of-pocket MAXIMUM_ANNUAL_OUT_OF_POCKET1 MAXIMUM_ANNUAL_OUT_OF_POCKET2
Co-pay for prescriptions CO_PAY1 CO_PAY2
Co-pay for doctor visits CO_PAYDOC1 CO_PAYDOC2
Other expenses OTHER_EXPENSE1 OTHER_EXPENSE2
Co-insurance CO_INSURANCE1 CO_INSURANCE2
HSA Contributions HSA_CONTRIBUTIONS1 HSA_CONTRIBUTIONS2

Results Summary
 HDHP Qualified PlanTraditional Health PlanDifference
Annual premium ANNUAL_PREMIUM1 ANNUAL_PREMIUM2 ANNUAL_PREMIUM3
Estimated medical expenses ESTIMATED_MEDICAL_EXPENSES1 ESTIMATED_MEDICAL_EXPENSES2 ESTIMATED_MEDICAL_EXPENSES3
Estimated HSA withdrawals ESTIMATED_HSA_WITHDRAWALS1 ESTIMATED_HSA_WITHDRAWALS2 ESTIMATED_HSA_WITHDRAWALS3
Estimated HSA tax savings ESTIMATED_HSA_TAX_SAVINGS1 ESTIMATED_HSA_TAX_SAVINGS2 ESTIMATED_HSA_TAX_SAVINGS3
Total annual cost TOTAL_ANNUAL_COST1 TOTAL_ANNUAL_COST2 TOTAL_ANNUAL_COST3
Total monthly cost TOTAL_MONTHLY_COST1 TOTAL_MONTHLY_COST2 TOTAL_MONTHLY_COST3
Unused HSA Account Balance* HSA_UNUSED_BALANCE $0 HSA_UNUSED_BALANCE

Your unused HSA account balance is HSA_UNUSED_BALANCE for the year which rolls over to next year, tax-free (state taxes may vary).

'; // 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