Support on this site for Internet Explorer 9 and Internet Explorer 10 will end on April 18, 2018. You must update your browser prior to then to continue accessing and UBTgo Online Banking. Learn More Here >>

HSA & FSA: How Much Should You Save?

How Much Should You Save?

Here are 6 great resources to help you get it right.

Let's Go

Top 10 Tips

  1. 1. Know your health insurance coverage. Every health plan will have out-of-pocket costs in the form of deductibles, copays, and coinsurance, and each plan will have a maximum contribution limit to keep in mind.
  2. 2. Use your premium savings. If you chose an HSA eligible health plan that offers lower premiums – consider putting some, or all, of those savings into your HSA.
  3. 3. Know your account. Ask these important questions:
        •  What is your contribution limit?
        •  Is your employer contributing to the account?
        •  Can you take the account with you if you leave the company?
        •  Do unused dollars at the end of the year roll over, or do you lose them?
  4. 4. Consider your budget and financial goals. Ensure your contributions fit into your overall personal finances.
  5. 5. Think about your typical health care utilization. Ask yourself how many office visits, prescriptions, specialists, labs, and other procedures you're likely to need.
  6. 6. Factor in major purchases. Look up average costs for any major planned treatments or procedures.
  7. 7. Look back at prior years. Your prior year spending may give you a hint as to how much you are likely to spend this year.
  8. 8. Think about the future. Think beyond the plan year – health care will continue to be a significant expense, even in retirement. It's never too early to save for the future.
  9. 9. Build in a buffer. Life happens – build in contingency funds for the unexpected.
  10. 10. Familiarize yourself with eligible expenses. Don't leave money on the table because you didn't realize certain expenses were eligible.

Learn More About How Much to Save



Open Enrollment Center

Everything you need to know to prepare for your Open Enrollment is in one convenient place.

Get Started