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HSA shoebox calculator
The HSA shoebox strategy: pay medical bills out of pocket, keep the receipts, leave the money invested in your HSA, and reimburse yourself years later. See what that money could grow to, and check the spreadsheet you already keep.
Your numbers
Up to 60 years. 6% is only a starting point. Returns vary, and they can be negative.
If the money stays invested
- Projected HSA value
- $16,035.68
- Growth
- $11,035.68
- You can reimburse later
- $5,000.00
If you leave $5,000.00 invested for 20 years at 6% a year, it could grow to about $16,035.68. You can still reimburse yourself the original $5,000.00 tax-free, as long as you have the receipts. The growth can stay in the HSA for later qualified medical expenses.
| Year | Projected value |
|---|---|
| 5 | $6,691.13 |
| 10 | $8,954.24 |
| 15 | $11,982.79 |
| 20 | $16,035.68 |
Educational illustration only, not tax, legal, or investment advice. Growth is compounded once a year at a fixed rate, and fees are left out.
Check your current HSA spreadsheet
Drop in the CSV or Excel file (.csv, .xlsx, or .xls) you already keep. You will see what is available to claim, which rows are missing a receipt, and likely duplicates.
Your file never leaves your browser. It is read on this page and is not uploaded or saved anywhere.
Up to 5 MB.
How the shoebox works
The IRS sets no deadline for reimbursing yourself from an HSA. The expense has to be a qualified medical expense, incurred after your HSA was opened, and not already reimbursed or deducted elsewhere.
Keep every receipt. If the IRS asks, you need to show that a withdrawal paid for a qualified medical expense, and that can be many years after the visit.
Investment growth inside an HSA is not taxed by the federal government when it is spent on qualified medical expenses. Some states, including California and New Jersey, tax HSA earnings.
Not tax advice. This page is for education only. Ask a tax professional about your own situation.
Save this to your own Google Drive with PocketHSA
Import the same spreadsheet. Every row is saved as an expense, and you check the preview first. Connect Google Drive and your receipt files go in a folder you own. Export everything on every plan.
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