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Health Finance Ed Center

Understanding how to connect your health and finances is more important than ever.

Our Health Finance Ed Center brings together industry – leading  education, tools and resources designed to help
you make the most of your health accounts.

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To get started, choose which health account you'd like to browse resources for:

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What is a health savings account (HSA)?   

An HSA is designed to work with a qualifying high-deductible health plan (HDHP). 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.

Unlike an FSA, 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.

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Explore the 5 Stages of Health Saving and Spending 

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Good health is a journey. So is saving the money needed to pay for qualified medical expenses. To connect health and finances, our Health Finance Journey™ model identifies five stages individuals move through when it comes to their HSA – decide, open, use, manage and optimize *.

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How do I know what stage I'm in?

Select your stage below based on your current usage and Behaviors – then browse browse related tools and resources tailored to your stage of health care saving and spending. Understanding what stage you’re in helps you make the most of your HSA.

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I'm thinking about opening an HSA but have questions about how it works and if I qualify.

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 Open

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I opened an HSA but I'm looking for more information on what to do next.

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 Use

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I understand how to use my HSA today but have questions about how to save for the future.

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I’m managing my HSA well but need tips on how to save and invest for retirement.

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I feel like an HSA pro. I've built up my balance and I’m ready to optimize my HSA for retirement.

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The Decide stage   

I'm thinking about opening an HSA but have questions about how it works and if I qualify.

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Britta's HSA story

After accepting her first post-college job, Britta needs to make benefit decisions including whether an HSA is right for her. Britta’s HR rep tells her one option is to enroll in a qualifying high-deductible health plan (HDHP) that is paired with an HSA.

Because Britta is learning about HSAs and deciding if an account is right for her, she falls into the DECIDE stage.

If you’re also trying to decide if an HSA is right for you, browse resources below. Or, if you’re ready to enroll, click the link below to learn more about the enrollment process.

Learn more

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Decide stage

There are a number of benefits to opening an HSA.  Here are the top 3 you should consider when deciding if an HSA is right for you.

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Maximize your tax savings

Contributions are income tax-free, savings grow income tax-free and withdrawals for qualified medical expenses are also income tax-free.

Learn more

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No "use it or lose it" rule

Unlike an FSA, you get to keep the money in your HSA, no matter what, even if you change jobs or move off a qualifying HDHP.

Learn more

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Save for you and your family

You can use your HSA to pay for qualified medical expenses for anyone you claim on your taxes, even if you have single coverage.

Learn more

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Resources for the Decide Stage

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Video: What is an HSA?

The first step to take charge of your health care savings is to open an HSA. Learn more about the tax benefits of opening an HSA and how you could start saving today.

Watch video

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Opening an HSA

Opening an HSA is easy – it takes takes less then 10 minutes.  Learn more about the requirements and easy steps to enroll in an HSA with Optum Bank today. 

Learn more

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Qualified medical expense search tool

Use our qualified medical expense tool to see a list of expenses that you can use an HSA to pay for.

Qualified medical expense tool

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The Open stage   

I opened an HSA, but I'm not sure how much money I should contribute each year and what expenses are qualified.

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Marcus and Michael's HSA Story

Marcus and Michael recently adopted their first child. They decided to open an HSA to be prepared for unexpected health care expenses today and in the future.

They’re trying to decide how much to contribute to their HSA and to understand what qualifies. They also want to understand how to use their HSA debit Mastercard® to make payments.

Because Marcus and Michael just opened their HSA, they fall into the OPEN stage.

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Open stage checklist

By opening an HSA, you've taken the first step toward financial wellness. 

Complete this checklist to start preparing for the Use stage.

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Register for online access

Register for online access to easily manage your account from anywhere.

Register today

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Set up your contributions

Take full advantage of all the HSA tax benefits by setting up contributions. 

Set up contributions

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Update your  preferences

Consider the environment — go paperless today by selecting online communication preferences.

Update preferences

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ACE YOUR HSA: EDUCATIONAL RESOURCES FOR THE OPEN STAGE

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Videos

Watch our HSA videos to learn more about the benefits of an HSA and how to use your HSA to start saving today.

What is an HSA?
How to use an HSA

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Tools

View a list of qualified medical expenses and use our calculator to estimate your annual contribution amount.

Qualified medical expense search tool
HSA contribution calculator

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Webinar

Learn how to save and pay for qualified medical expenses. Watch on-demand or register for one of our live webinars.

Making the most of your HSA

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Optum Bank Academy Courses

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Our Optum Bank® Academy interactive courses are designed to help guide you in making the most of your HSA.  Click the links below to view a short video about each HSA course recommended for the Open stage.
 
HSA courses:
  1. HSA - Start Saving Now
  2. Money Management: Using Your HSA to Take Control of Your Health Care Dollar

3 clicks to get started: Simply sign in. Click on Optum Bank Academy. Select your courses to watch and enjoy.

Optum Bank Academy courses are available exclusively to Optum Bank account holders.  If you don't have an HSA with Optum Bank, click here to learn how to enroll in an HSA today.

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The Use stage    

I understand how to use my HSA today but have questions about how to save for the future.

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Natasha's HSA Story

Natasha opened her HSA with her previous employer. She has been contributing what she can for the last few years to take advantage of all the tax savings.

During a doctor visit, she is diagnosed with bronchitis for which the doctor prescribes a generic medication. Natasha pays for it using her Optum Bank debit Mastercard® at the pharmacy. She then receives a bill from her health plan and, because she hasn’t yet met her deductible, uses her HSA to pay it.

Because Natasha is actively using her HSA, she falls into the USE stage.

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Use stage checklist

If you're in the Use stage, you understand how to save and pay for health care expenses but you may be thinking about how your HSA can help you continue to save for the future.

Complete this checklist to start preparing for the Manage stage.

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Manage your contributions

Sign into your account to check your contribution amount and make sure you're contributing the maximum allowed by the IRS.

Make a contribution

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Download the mobile app

Learn how to capture receipts, pay bills, search for qualified medical expenses and more while you're on the go. 

Download today

 

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Learn more about qualified expenses

Use our search tool to filter by account type and expense type to learn about qualified medical expenses.

View qualified list

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Ace your HSA: Educational Resources for the Use Stage

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Videos

Learn more about how to use your HSA to pay for qualified medical expenses and how to invest your HSA to start saving for your future.

How to use an HSAInvesting with an HSA

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Tools

View a list of qualified medical expenses and use our checkup tool to estimate your health care costs.

Qualified medical expense search tool
Health savings checkup tool

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Webinars

Our on-demand webinars will help you understand how to make the most of your HSA and learn more about the options to invest your HSA dollars.

Making the most of your HSAHSA investing made easy

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Optum Bank Academy Courses

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Our Optum Bank® Academy interactive courses are designed to help guide you in making the most of your HSA.  Click the links below to view a short video about each HSA course recommended for the Use stage.

HSA courses:
  1. Money Management: Using Your HSA to Take Control of Your Health Care Dollar
  2. The Savvy Health Care Shopper

3 clicks to get started: Simply sign in. Click on Optum Bank Academy. Select your courses to watch and enjoy.

Optum Bank Academy courses are available exclusively to Optum Bank account holders.  If you don't have an HSA with Optum Bank, click here to learn how to enroll in an HSA today.

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The Manage stage    

I’m managing my HSA well but need tips on how to save and invest for retirement.

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The Nolan family's HSA Story

Working full-time with two kids, Nancy and Bill need to be smart about budgeting and managing their HSA dollars.

Their son has asthma and their daughter needs braces this year. Because asthma is a chronic condition, and they were able to anticipate the cost of braces, they save the maximum annual contribution limit each year to cover the full cost of each. However, with their children getting older, they’re curious if they should also start investing their HSA to save for retirement.

Because the Nolans are confident in using and managing their HSA, they fall into the MANAGE stage.

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Manage stage checklist

If you're in the Manage stage, you understand how to maximize your HSA, but you still have a few questions about saving for retirement.

Complete this checklist to start preparing for the Optimize stage.

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Manage your contributions

Make sure you’re contributing the maximum allowed by the IRS.

Contribute today

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Learn more about your investing options

Discover how the investing features work with your HSA.

View options

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Complete your HSA checkup

Estimate health care costs during retirement and plan for your future.

Start checkup

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Ace your HSA: Educational Resources for the manage Stage

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Video: Investing with an HSA

Learn more about how to invest your HSA dollars to help grow your savings and start planning for your future. It's easy!

Watch video

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Tools

View a list of qualified medical expenses and sign in to your account to use our asset allocation calculator to decide which mutual fund(s) to invest in.

Qualified medical expense tool
Asset allocation calculator

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Webinar: HSA investing made easy 

This on-demand webinar will walk you through our investment options which include mutual funds and digitally managed investments with Betterment.

Watch webinar

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Optum Bank Academy Courses

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Our Optum Bank® Academy interactive courses were designed to help guide you in managing your HSA.  Click the links below to view a short video about each HSA course recommended for the Management stage.

HSA courses:
  1. Money Management: Using Your HSA to Take Control of Your Health Care Dollar
  2. Your HSA as an Investment Tool

3 clicks to get started: Simply sign in. Click on Optum Bank Academy. Select your courses to watch and enjoy.

Optum Bank Academy courses are available exclusively to Optum Bank account holders.  If you don't have an HSA with Optum Bank, click here to learn how to enroll in an HSA today.

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The Optimize stage     

I feel like an HSA pro. I've built up my balance and I’m ready to optimize my HSA for retirement.

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DAVID AND JENNY'S HSA STORY

With all their kids out of the house, David and Jenny enjoy traveling together and are looking forward to retirement.

In addition to saving in their mutual 401(k)s, they’ve been contributing the maximum allowed by the IRS to their HSA each year and investing that money. Since David is 55, he’s also contributing an extra $1,000 “catch-up” contribution each year. And, they know that after one of them turns 65, they can use their HSA funds for non-qualified expenses, like a boat or exotic vacation.

Because David and Jenny are proactively investing in mutual funds to save for retirement, they’re in the OPTIMIZE stage.

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Optimize stage checklist

 

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If you're in the Optimize stage you understand the importance of building up your HSA balance and investing your HSA dollars to start saving for health care costs during retirement.

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Start planning for retirement

Learn how your HSA can be a great tool to help you prepare for future health care costs in retirement.

Learn more

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Review our investment options

Options include mutual funds and digitally managed investments with Betterment.

Learn more

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Maximize your contributions

If you're 55 years or older, you can make your additional catch-up contribution of $1,000 per year.

Make a contribution

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Ace your HSA: Educational Resources for the Optimize Stage

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Video: Investing with an HSA

Learn more about how to invest your HSA dollars to help grow your savings and start planning for retirement.

Watch video

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Tools

Estimate health care costs during retirement and sign into your account to use our allocation calculator to decide which mutual fund(s) to invest in.

Health savings checkup tool
Asset allocation calculator

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Webinar: HSAs and retirement

In retirement, you can use your HSA dollars for more than just qualified medical expenses. Learn more about how to use your HSA as a tool to save for retirement.

Watch webinar

 

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Optum Bank Academy Courses

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Our Optum Bank® Academy interactive courses were designed to help guide you in making the most of your HSA.  Click the links below to view a short video about each HSA course recommended for the Optimize stage.

HSA courses:
  1. Money Management: Using Your HSA to Take Control of Your Health Care Dollar
  2. Your HSA as an Investment Tool

3 clicks to get started: Simply sign in. Click on Optum Bank Academy. Select your courses to watch and enjoy.

Optum Bank Academy courses are available exclusively to Optum Bank account holders.  If you don't have an HSA with Optum Bank, click here to learn how to enroll in an HSA today.

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What is a flexible spending account (FSA)?     

An FSA is an account that you can put money into to pay for certain out-of-pocket health care costs.  You don’t pay taxes on this money. This means you’ll save an amount equal to the taxes you would have paid on the money you set aside.

It’s important to understand that in most cases FSAs have a “use it or lose it” rule. Keep this in mind to avoid losing any unspent money left in your account at the of the plan year.

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Types of FSAs

Understanding how FSAs work can be confusing.  Watch these videos to learn more about the differnt types of FSAs.

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Dependent care FSA

Discover how a DCFSA helps you budget for eligible child and adult care expenses.

Watch video

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Limited purpose FSA

Learn how an LPFSA can be a great companion to a health savings account (HSA).

watch video

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Health care FSA

A HCFSA lets you cover eligible health care expenses with before-tax dollars.

watch video

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Tools and Resources

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Video

Upload a receipt

Discover how to upload a receipt for an Optum Bank Mastercard® purchase. 
Watch Video

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Educational Tools

Qualified medical expense tool

Understanding what you can pay for with your FSA can be confusing. Use our QME tool to filter by account type and expense type to learn about what qualifies.

See the list

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Video

File a claim

Do you have questions about how to file a claim?  Watch this video for step-by-step instructions on how to file a claim.
Watch video

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Additional Resources

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* Stages based on the proprietary Optum Bank 5 Stages of Health Saving and Spend model.