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Health Savings Account (HSA)

Discover the benefits of an HSA.

An HSA helps employees manage health care spending and enables them to plan, save and pay for health care through a tax-advantaged account.

Unused funds carry over from year to year, and the account is theirs to keep even if they change jobs, change health plans or retire.

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Tax benefits

HSAs offer triple tax savings: 

  • Income tax-free payroll contributions
  • Income tax-free payments for qualified medical expenses
  • Income tax-free growth from interest or any investment earnings

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$12B in managed assets1

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17% higher average HSA balances than industry norm2

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52% more account holders investing than industry norm3

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Digital solutions

Employees can access their health accounts and funds right from their smartphone. Our mobile app is ranked number one in the category and allows account holders to track and manage their health accounts at any time. 

Members can link their health account funds to Apple Pay, Google Pay or Samsung Pay on their mobile device to pay for qualified purchases on the go. We can also help answer questions and provide educational resources through Amazon Alexa and Google Home, as well as through 24/7 virtual online chat assistance. 

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It's more than just a health savings account

Our HSA includes many features and benefits. There are also multiple ways to engage with Optum Bank®.

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Sources

  1. Optum Bank book of business as of January 31, 2020
  2. Includes non-funded accounts. Optum Bank Book of Business compared to 2019 year-end Devenir Research HSA Market Statistics and Trends, March 3, 2020.
  3. Ibid.