Video Transcript: Optum Bank - How to Use an HSA

Save smart.

(OPTUMBank^® logo)

It’s easy to do with your OPTUMBank^® health savings account.

Start by simply making a deposit into your HSA.

One way is through payroll deduction, if you employer offers that option.

Decide how much you want to contribute from each paycheck and that amount is automatically deposited into your account.

You can also make an online deposit at Optumbank.com, either as a one time or recurring contribution.

And you’re not the only one who can contribute to your account, anyone can.

So, if your birthday is right around the corner, go ahead and put HSA deposit on your wish list.

Just remember that all deposits count towards the annual contribution limits set by the IRS.

Be sure to use the HSA calculator at optumbank.com to determine how much you can contribute, while you’re at it use it to estimate your tax savings.

(Graphic of calculator and a cursor clicking buttons)

Now it’s time to put your HSA to work.

You can use your HSA dollars to pay for qualified medical expenses for you and your eligible dependents.

The easiest way to pay is with you HSA debit card, you can use it on the spot or after you receive a bill.

You’ll receive your debit card in the mail shortly after your account is opened.

Another easy option is to pay online at optumbank.com, where you can send payments directly to healthcare providers, pharmacies, or other payees.

Already paid your bill out of pocket? No problem, it’s easy to reimburse yourself.

Login into your account to request an electronic or check reimbursement.

Finally, make sure you keep your receipts you can conveniently upload and store them on optumbank.com, this way you can organize you receipts into folders to help you keep track of them in case you’re ever audited by the IRS.

(Graphic of receipts being entered into safe, and locking the safe)

Just another way to help you save smart.

Still have question about your OPTUMBank^® HSA? Visit optumbank.com to learn more.

(OPTUMBank^® Member FDIC logo)

Heath savings accounts (HSAs) are individual accounts offered or administered by OPTUMBank^®, Member FDIC, and 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.