FSA Calculator
Set your election, your tax bracket, how many paychecks a year you get, and what you realistically plan to spend on eligible care. The calculator shows the true tax saving - income tax plus the 7.65% payroll tax FSA money skips - and the amount riding on use-or-lose.
Employer flyers sell the FSA as free money and skip the forfeit math entirely. This one prices both sides: the bracket-plus-payroll saving stacking in your favor, and the grace-period or carryover rules deciding what happens to whatever is left on December 31.
How to use
- Election first: the 2026 ceiling is $3,400 unless your employer caps lower.
- Pick your marginal bracket from your last pay stub - that is the income tax slice.
- Enter planned expenses honestly; the risk figure is what forfeits if plans change.
Frequently asked questions
How much does an FSA actually save in taxes?
Your contribution times your bracket plus 7.65% payroll tax - about 29.6% total at the 22% bracket. On a $2,600 election that is roughly $770 that would otherwise have been taxed away.
What happens to unused FSA money?
Use-or-lose forfeits it at year end, with two softeners - plans offer either a 2.5-month grace period to spend into March, or a carryover of up to $660 into next year. Check which one yours runs; employers pick one.
What can I spend FSA money on?
Medical, dental, vision, prescriptions, therapy copays, glasses and contacts, braces, band-aids, sunscreen over SPF 15. Gym memberships and general wellness never qualify - the IRS list is narrower than people hope.
Is an FSA better than an HSA?
They rarely coexist: the FSA is spend-this-year, the HSA is save-forever, and an FSA generally blocks HSA contributions. If your plan is HSA-qualified, the HSA wins for anyone who can leave money untouched; the FSA suits known, recurring care.