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Optum Bank, a part of Optum Financial, is connecting health and finances in unprecedented ways.
2020 tax filing & payment and HSA contribution deadlines extended
The federal income tax filing and payments deadline has been extended from April 15, 2021, to May 17, 2021. The amount of time that individuals have to make 2020 health savings account (HSA) contributions has also been extended to May 17. The 2020 tax forms that you may need for your health savings account (HSA) are now available online. Visit our tax center to learn more.
Using your health account dollars
An HSA is like no other savings account. The money goes in on a pre-taxed basis through payroll contributions, grows income tax-free and comes out income tax-free when you use it for qualified medical expenses. Plus, you can carry over unused available funds from year to year and the account is yours to keep even if you change jobs, change health plans or retire.
News and regulatory updates
Browse our resources below for the latest regulation and legislative changes that may impact your health accounts.
Regulatory update
Amounts paid for certain PPE treated as qualified medical expenses
Personal protective equipment such as masks, hand sanitizer and sanitizing wipes purchased for preventing the spread of COVID-19 is now treated as qualified medical expenses (IRS Notice 2021-7).
Regulatory update
American Rescue Plan Act of 2021
Employers may choose to amend their plans to increase the dependent care flexible spending account (DCFSA) contribution limit for 2021 only.
Regulatory update
2020 tax filing & payment and HSA contribution deadlines extended
The federal income tax filing and payments deadline, and the health savings account (HSA) contribution deadline, has been extended from April 15, 2021 to May 17, 2021.
Health Finance Ed Center
Introducing the new Health Finance Ed Center. Click the links below to find educational tools and resources designed to help you make the most of your health accounts.
HSA resources
Browse resources for your HSA
Learn more about the tax benefits of an HSA, contribution limits, how to invest your HSA and more.
FSA resources
Browse resources for your FSA
Learn more about the different types of flexible spending accounts, how to file a claim, upload a receipt and more.
Tax resources
Questions about your HSA and taxes?
Browse resources to learn more about the tax benefits and what you need to know at tax time.
Tax Education Center
Questions about your 2020 taxes? The 2020 tax forms that you may need for your health savings account (HSA) are now available online. Sign in to your account to easily view and download your forms. The federal income tax filing and payments deadline has been extended from April 15, 2021, to May 17, 2021. The amount of time that individuals have to make 2020 health savings account (HSA) contributions has also been extended to May 17. Learn more
TAX FORMS
There are three tax forms associated with an HSA: IRS Form 1099-SA, 5498-SA and IRS Form 8889.
- IRS form 1099-SA shows the amount of money you spent from your HSA during the tax year. IRS Form 1099-SA is available at the end of January. It is posted to your account and mailed. Note, you will only receive the IRS form 1099-SA if you had distributions in 2020.
- IRS form 5498-SA shows the amount of money deposited into your HSA for the tax year. IRS Form 5498-SA is available at the end of January. If you contribute in the new year for the previous tax year, you will also get another 5498-SA form in May.
- IRS form 8889 is the only form you fill out and submit with your tax return. Please use the information in your 1099-SA form, available online, to fill out IRS tax form 8889. IRS Form 8889 can be downloaded from IRS.gov at any time.
- You can get copies of your most recent tax forms by signing in to your account online and viewing the "Statements and Docs" section.
Tools and resources
Watch this short educational video to learn about the tax benefits of your HSA and what you need to know regarding your account during tax season.
FAQs
If you are looking for more information related to your HSA and tax time, visit the HSA Tax Center page to review frequently asked questions (FAQs).
*Your FSA plan may exclude reimbursement for certain categories of items. Check your plan for specific coverage details.
The promotional codes OPTFSA7 and OPTHSA5 offered by the Optum Store is intended for the sole use by Optum Bank flexible spending arrangement (FSA) and health saving account (HSA) members when making a purchase with their FSA or HSA. Promotional codes cannot be applied to previously placed orders and cannot be combined with other promotional codes. Promotional codes are not transferable or redeemable for cash or credit. To apply a promotional code, you must enter it prior to completing the order. Failure to adhere to these terms of use may result in the transaction being voided.
Free and expedited shipping offers do not apply to shipping outside of the contiguous United States. Additional shipping restrictions may apply.
The Optum Store is an affiliate of the UnitedHealth Group family of companies.