The Optum Bank Experience
Overview: Intended for employers to use to encourage employees to open their HSA at Optum Bank.
The Optum Bank Experience- Why you should open an HSA
Choosing a banking institution to hold your health savings account (HSA) is an important decision. Optum BankSM, Member FDIC, is a leading HSA administrator and focused solely on health care banking. Deposits are insured by the FDIC for at least $250,000 for each depositor. Optum Bank makes it easier than ever to manage your health care financing.
You get convenient access to your HSA funds
· The Optum Bank Health Savings Account Debit MasterCard® can be used to access HSA funds for direct payment at a doctor’s office, pharmacy or any health care facility that accepts MasterCard®. In most cases, the card can be used to pay a bill received from a doctor’s office or health care facility.
· If you pay for qualified expenses out-of-pocket, your debit card can be used to reimburse yourself. Simply use your debit card at any ATM* displaying the MasterCard name to withdraw funds to reimburse the expense you paid out-of-pocket. Be sure to keep your receipt for the expense.
· You can pay bills online with just a few clicks of the mouse.
· You can also order Optum Bank checks for a small fee.
You have the opportunity to grow your money
· Optum Bank offers competitive interest rates.
· You can also invest some of your HSA dollars in mutual funds after you have reached the investment threshold in your account. You can make trades online or with our interactive voice response (IVR) system. Deposit and investment account balances and transactions are combined and viewable online.
Need more information? You have access to online tools and resources at Optumbank.com
· Review information about HSAs with our interactive demonstration and frequently asked questions.
· You can use our HSA calculators to see how much you can contribute to an HSA, your potential tax savings and the projected growth of your account.
· The Optum Bank Tax Resource Center has IRS forms, a list of qualified medical expenses, state tax information and general questions and answers.
· Forms associated with any HSA transaction can be downloaded directly from the site.
· The Health Savings Checkup is an industry leading tool that will help you get an estimate of your retirement health care costs, and includes guidance on ways that may help you stay healthy, spend less and save more.
*There is a $1.50 ATM withdrawal fee. Access fees may also be charged by the ATM owner.
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Health savings accounts (HSAs) are individual accounts offered by Optum BankSM, Member FDIC, and are subject to eligibility and restrictions, including but not limited to restrictions ondistributions forqualified medical expenses set forth in section213(d) of the Internal Revenue Code. State taxes may apply. This communication is not intended as legal or tax advice. Please contact a competent legal or tax professional for personal advice on eligibility, tax treatment, and restrictions. Federal and state laws and regulations are subject to change.
INVESTMENTS ARE NOT FDIC-INSURED, ARE NOT GUARANTEED BY OPTUMSM AND MAY LOSE VALUE.
FSEDU0248Cv02NV Rev 4/13