FSA Savings Calculator

Annual Out of Pocket Health Care Costs
Spent on:	Amount Spent Annually
Health plan deductible and co-insurance
Health plan co-pays
Other health care expenses not covered by insurance
Prescriptions
Over the counter items
(OTC medicines require a prescription.)
Eyeglasses, contacts and other vision expenses
Dental expenses not covered by insurance
Orthodontia not covered by insurance
Total annual out of pocket health care expenses

Annual Dependent Care Expenses
Weekly amount spent on day care
Number of weeks of day care annually
Total annual dependent care expenses
(Capped at the IRS limit of $5000.)

Salary, Contribution and Tax Rate Information
Annual Salary
FSA Contribution
This is the amount you indicated as your Total Annual Out of Pocket Health Care Expenses.
Dependent Care Expenses
This is the amount you indicated as your Total Annual Dependent Care Expenses.
What is your federal income tax rate?
What is your state income tax rate?

Potential Tax Savings by Enrolling in a Flexible Spending Account
	No FSA	With FSA
Annual Salary
FSA Pre-Tax Contribution
Dependent Care Pre-Tax Contribution
Taxable Income
Federal Income Tax
State Income Tax
Social Security Tax *
Net Income
After Tax Out of Pocket Health Care Expenses
After Tax Out of Pocket Dependent Care Expenses
Take Home Pay
Tax Savings by Implementing a Flexible Spending Account

*Contributing before tax dollars to an FSA may reduce your Social Security benefits since your contributions are not subject to FICA witholding.

There is no reduction in benefits for employees who pay the maximum FICA tax.

This calculator is meant for illustrative purposes only.

Please consult your tax advisor for specific information on your particular situation.