What is an HSA?
An HSA is designed to work with a qualifying high-deductible health plan (HDHP). The money goes in tax-free, grows income tax-free and comes out income tax-free when you use it for qualified medical expenses.
You can carry over unused funds from year to year and the account is yours to keep even if you change jobs, change health plans or retire.
Learn more about an HSA
Life has its surprises but with an Optum Bank HSA, paying for qualified medical expenses won't be one of them. Learn more about the benefits of an HSA.
Save money and save on taxes
Keep Uncle Sam out of your pocketbook. The money you contribute to your HSA goes in, grows and comes out income-tax free when used for qualified medical expenses. You know you're going to need it — so why not save on taxes, too?
There is no "use it or lose it" rule
You get to keep the money in your HSA, no matter what, even if you change jobs or move off a qualifying high-deductible health plan. When you, your employer or anyone else makes a contribution to your HSA, it stays there so you can use it when you need it.
It's a family affair
You can use your HSA to pay for the qualified medical expenses of anyone you claim on your taxes, even if you're only enrolled with single coverage. This is a great way to plan for unexpected medical expenses, from your deductible to an ER visit, for the whole family.
Invest your HSA dollars
In addition to contributing to your 401(k) you can also invest your HSA dollars to help grow your balance. Unlike a 401(k) when you use HSA funds for qualified medical expenses — it’s always 100% income tax-free. Learn more about our investment options.
Start planning for retirement
An HSA is a great tool to help you prepare for future health care costs and retirement. After turning 65 you can use your HSA funds for non-qualified expenses, like a boat or an exotic vacation. You’ll pay ordinary income tax on those funds, but the 20% tax penalty no longer applies. As you're planning for the future, your HSA can ease your mind and prepare you for retirement by saving money income tax-free.
Questions about your taxes?
The 2020 tax forms that you may need for your HSA are now available online. Sign in to your account to easily view and download your forms. Visit our tax center to learn more about the tax benefits and what you need to know at tax time.
Please note that the federal income tax filing and payments deadline – and as a result the HSA contribution deadline – has been extended from April 15, 2021 to May 17, 2021 (or to June 15 for TX, OK and LA). Learn more.
Getting started with your HSA
Investing your HSA
*Your FSA plan may exclude reimbursement for certain categories of items. Check your plan for specific coverage details.
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The Optum Store is an affiliate of the UnitedHealth Group family of companies.