FSA Tax Savings & Open Enrollment Calculator
See exactly how much you save on taxes by contributing pre-tax dollars to a Healthcare Flexible Spending Account under Internal Revenue Code Section 125.
Calculate Your Annual Tax Savings
Selected: 22% bracket (Single income: $47,150 - $100,525)
Estimated Total Tax Savings
$866
That's real money back in your pocket instead of going to taxes.
Federal Income Tax
$550
at 22% rate
FICA (SS + Medicare)
$191
7.65% exempt
State Income Tax
$125
~5.0% est. state
How Much Should You Elect?
Click any scenario to load a suggested contribution into the calculator:
Single, generally healthy (glasses/dental/OTC)
$1,000 - $1,500
Apply →
Individual with chronic prescriptions or therapy
$2,000 - $2,500
Apply →
Couple / Family with young children (routine care)
$2,500 - $3,000
Apply →
High planned expenses (LASIK, braces, surgery)
$3,400 (Max)
Apply →
Golden Rule: Elect what you know you will spend. Any amount above your employer's carryover limit ($660 in 2026) will be forfeited if not spent by the deadline. SpendRebel tracks this deadline automatically so you never lose a dollar.
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Frequently Asked Questions
What is the FSA contribution limit for 2026?
Per IRS Revenue Procedure 2024-40, the healthcare FSA contribution limit for 2026 is $3,400 per employee. If you and your spouse are both employed and offered an FSA, your household can contribute a combined total of $6,800.
How much do I actually save in taxes with an FSA?
Most Americans save between 30% and 40% on every dollar contributed. FSA contributions avoid Federal income tax (e.g. 22%), FICA taxes (Social Security 6.2% + Medicare 1.45% = 7.65%), and state income taxes (averaging ~5%). For example, contributing $3,000 saves approximately $1,040 in taxes.
What happens to my FSA balance at the end of the year?
Under IRS Section 125, FSAs are use-it-or-lose-it by default. However, your employer can choose to offer either: (1) A carryover of up to $660 into 2027, or (2) A 2.5-month grace period (until March 15) to spend funds. Employers cannot offer both options.
Can I change my FSA election mid-year?
Generally no. You can only adjust your FSA contribution during open enrollment, unless you experience a Qualifying Life Event (QLE) such as marriage, divorce, birth or adoption of a child, or a change in employment status.