OptumHealth Bank is a bank that’s focused on financial solutions for health care. OptumHealth Bank offers a bank account called Health Savings Account (HSA) that’s dedicated to medical expenses. You can use it to plan, save and pay for qualified medical expenses if you have a high-deductible health plan.
With OptumHealth Bank, you can choose from among three account options to get an HSA that’s best for you:
- Health eAccess HSA. If you plan to use your account often for current medical expenses, this may be the best choice for you. It has the lowest fee for carrying a smaller balance.
- Health eSaver HSA. If you will be spending some now and would like to invest for future medical expenses, this account is a good option. It has competitive interest rates, moderate fees, and an option to invest for no additional fee.
- Health eInvestor HSA. If your expenses are minimal now, but you want to grow your HSA for future medical expenses, this account lets you start investing with a balance as low as $500.
Benefits of Health Savings Account
Combining an eligible high-deductible health plan with an Health Savings Account from OptumHealth Bank, you can:
- Deposit your health care dollars. Anyone can contribute to your HSA. They are you, your family, your employer or any other individual. Your employer may offer payroll deduction to help you deposit money into your HSA. You may pay a lower premium for your health plan because of its higher deductible.
- Grow your savings. Your deposits may earn interest and continue to grow over time. You may be able to invest a portion of your balance in mutual funds to help save for future health care expenses, depending on your account
- Save on taxes. Your deposits are exempt from federal income tax. As your savings grows, interest earned is tax-advantaged.
- Pay for health care now or later. Pay for qualified medical expenses for your spouse or dependents, even if they are not covered under your high-deductible health plan. Use The OptumHealth Bank Health Savings Account Debit MasterCard® for a simple way.
A guide to using your HSA
- Do not forget to always keep your personal information and preferences up to date so the bank can reach you as account alerts and important information sent to you from time to time.
- Statements for your account are posted monthly online so spend a little time monthly to log in to view your statements.
- Take steps to protect your account although OptumHealth Bank has taken every precaution to make sure your information and money are secure
- Designate a beneficiary or beneficiaries and keep that information up-to-date. If you don’t designate a beneficiary, the funds will go to your legal spouse if you have one. If you are not married at the time of your death, the funds will go to your estate.
About OptumHealth Bank
OptumHealth Bank is a member FDIC. OptumHealth Bank is dedicated to providing products and services that help people plan, save and pay for health care costs. The bank also provids accounts to hold life insurance benefits paid from some group insurance policies and offer a credit program for our HSA customers to help pay for out-of-pocket medical expenses.
To open an OptumHealth Bank Health Saving Account or looking for further information,please visit official website at www.optumhealthbank.com