Accelerate progress toward a healthier future with an HSA that helps employees take control of their care, payments and overall health.
With health care growing more expensive and complex, we know it's increasingly challenging to support the health of your employees. We partner with you to leverage insights, reduce costs for everyone, drive benefit utilization and support better health outcomes.
As the No. 1 HSA provider in the United States,* we administer more than 8 million health accounts with over $17 billion in assets.
Investment choices for every kind of investor
Our HSA is easy for account holders to use to pay for qualified medical expenses and has robust investment options for account holders who are saving for their future.
Investment options include digitally managed funds for employees who want to set it and forget it, and mutual funds that provide diversification and convenience. Self-directed brokerage accounts offer a do-it-yourself option for savvy investors who want more flexibility and control.
Account holders don't pay income tax on:
The 5 Stages of Health Saving and Spending support how your employees use their HSA to meet their needs at any stage of life.
Watch video
Saving and spending for health care isn’t a sprint.
(Graphic of banner saying ‘saving & spending’ ripping in half)
It’s a journey. And you have questions. And you may not be sure where to begin.
Start with a health savings account or HSA.
From the moment you decide to open your account— to maximizing your health care dollars, your HSA journey will take you through five stages.
(Graphic of 5 Stages include: Decide, Open, Use, Manage, Optimize)
Before you decide to open an HSA, find out if you’re eligible.
The main requirement is that you’re covered under a qualifying high deductible health plan, or HDHP. There are also additional requirements defined by the IRS.
(Graphic of additional requirements checklist include: Not enrolled in Medicare, not covered by any other health plan, covered under an IRS qualifying HDHP and may not be claimed as a dependent on another taxpayer’s return).
An HSA offers you an easy, convenient, income tax-free way to save and pay for qualified medical expenses for you and your eligible dependents.
In general, contributions to your HSA are income tax-free.
And when the money is used to pay for qualified medical expenses-- it is also income tax-free.
Your savings can also potentially grow income tax-free.
Three very good reasons to say yes to an HSA!
Now that you’ve decided to open your HSA, it’s time to get your account up and running!
There are just a few simple steps to complete an application.
(Graphic of blank checklist being checked off)
Or, your employer may have already opened your account for you.
(Talk to your employer or visit optumfinancial.com)
(Graphic of coins bouncing)
You’ll also need to decide how much to contribute to your account; up to the current IRS limit.
An easy way to contribute to your HSA is through payroll deductions, if your employer offers this option. Or - you can make a one time or recurring contribution to your account online.
Remember - you can stop, start or change your contribution amount at any time.
The best part? The money in your account rolls over from year to year. And it’s always yours to keep. Even if you change jobs or retire.
Now it’s time to start using your HSA dollars to pay for qualified medical expenses.
It’s easy! You can use online bill pay or your Optum Financial debit card.
(Graphic of cursor clicking on computer screen)
You can also sign in to your account to request a reimbursement if you’ve already paid your bill out of pocket.
Questions? Online tools can keep you on track and help is always just a click away.
You’re doing a great job managing your HSA, way to go!
(Graphic of confetti flying)
You know making informed decisions at every stage of the journey is key to making the most out of your healthcare dollars.
Be sure to stay up to date with your account activity, view quarterly [YD1] statements and track your cash flow. Online tools can help you track your contributions and manage your receipts.
Also --- be sure to maximize your contributions. If you’re 55 or older, you can contribute an extra $1,000 annually as a catchup contribution.
(Stage 5 Optimize)
The fifth stage of your journey? Optimizing your health care dollars!
Once your HSA reaches a certain designated balance, known as the investment threshold, you can choose to invest a portion of your HSA dollars.
Unlike a 401k, if you happen to incur a large health expense—those dollars are yours to use at any time.
Save, invest and potentially grow those dollars to help you build a nice nest egg for retirement.
Decide. Open. Use. Manage. Optimize. The five stages of your HSA journey.
For questions or to learn more, visit optumfinancial.com.
Disclaimer: Investments are not FDIC insured, are not guaranteed by Optum Bank or its subsidiaries, and may lose value.
Health savings accounts (HSAs) are offered through Optum Bank® Member FDIC or ConnectYourCare, LLC, each a subsidiary of Optum Financial. HSAs are subject to eligibility requirements and restrictions on deposits and withdrawals to avoid IRS penalties. State taxes may apply. Fees may reduce earnings on account. This communication is not intended as legal or tax advice. Federal and state laws and regulations are subject to change.
© 2021 Optum, Inc. All rights reserved. 137076-052021
Your employees can easily shop for HSA-eligible products at Optum Store and use their payment card to pay directly from their HSA.
Let your employees access their full year’s contribution (employee and employer) at any time of year to pay for a qualified medical expense. This feature is optional.
Watch video
Narrator:
No one likes paying more than required for taxes, or hefty out-of-pocket medical expenses. With a health savings account, or HSA, you can take advantage of potential tax savings while building up funds to cover future medical expenses.
But what if it’s your first time enrolling into a high-deductible health plan and you’re worried about high upfront expenses? This is where HSA On Demand can provide an added value to your health savings account.
Through HSA On Demand, you can access your future health savings account contributions whenever you need extra funds to pay for qualified medical expenses and avoid out-of-pocket costs. Funds are automatically accelerated when needed for a qualified medical expense, right at the point of sale. You can ultimately take comfort in knowing your expenses are covered.
Let’s say, for example, you need $40 to pay for a doctor’s visit and a prescription. Your HSA balance is $0 at the beginning of the plan year…but that doesn’t matter. Luckily your employer offers HSA on Demand, and when you go to swipe your health savings account debit card to cover the visit and the prescription, the funds are there. Nothing to pay out of pocket! The accelerated funds will be paid back through future account contributions.
And what if you don’t have any upfront medical expenses to manage? Your account contributions will continue to accrue and can be carried over year after year…even through retirement!
HSA On Demand: simple, convenient, and offering peace of mind.
Are you a current client looking for support? Contact your account representative directly or email employerservice@of.optum.com.
Help your employees budget and save for qualified expenses during the benefit plan year through pre-tax contributions.
Attract and retain talent in a competitive market, connect your benefits to your culture and show your care for your employees.
Remove complexity, save time and increase compliance with our unique administration capabilities.
*Devenir 2021 year-end report based on assets, March 2022.
back to top keyboard_arrow_upHealth savings accounts (HSAs) are individual accounts offered through Optum Bank®, Member FDIC, or ConnectYourCare, LLC, an IRS-Designated Non-Bank Custodian of HSAs, each a subsidiary of Optum Financial, Inc. Neither Optum Financial, Inc. nor ConnectYourCare, LLC is a bank or an FDIC insured institution. HSAs are subject to eligibility requirements and restrictions on deposits and withdrawals to avoid IRS penalties. State taxes may apply. Fees may reduce earnings on account.
Flexible spending accounts (FSAs), dependent care assistance programs (DCAPs), health reimbursement arrangements (HRAs), Commuter and Parking Benefits, Tuition Assistance Plans, Adoption Assistance Plans, Surrogacy Assistance Plans, Wellness Benefits, and Lifestyle Accounts (collectively, “Employer-Sponsored Plans”) are administered on behalf of your plan sponsor by Optum Financial, Inc. or ConnectYourCare, LLC (collectively, ""Optum Financial"") and are subject to eligibility and restrictions. Employer-Sponsored Plans are not individually owned and amounts available under the Employer-Sponsored Plan are not FDIC insured.
This communication is not intended as legal or tax advice. Federal and state laws and regulations are subject to change. Please contact a legal or tax professional for advice on eligibility, tax treatment, and restrictions. Please contact your plan administrator with questions about enrollment or plan restrictions.
Google Play and the Google Play logo are trademarks of Google LLC. Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc., registered in the U.S. and other countries.
© 2024 Optum, Inc. All rights reserved. Stock photos used.
