HSA mythbusters

While HSAs make it easy to manage your saving and spending, there are some old misconceptions hanging around. Download our HSA mythbusters flyer to get answers to common myths about HSAs.


Myth #1: I’m healthy, so I don’t need an HSA

HSAs are for everyone. Pre-tax dollars can be used to pay for ordinary expenses like certain approved over-the-counter medication, sunscreen, and dentist appointments. HSAs are the perfect way to pay for your health, dental and vision needs, whether they are pressing or just routine. If you’re currently healthy, take the opportunity now to build your funds for the future. 

The earlier you start building your HSA, the greater your balance grows for when you need it. If you’re lucky enough to not need all your HSA funds for health care, once you reach age 65, HSA funds can be used for additional expenses.*

Myth #2: If I don’t use my HSA funds in my plan year, the money is gone

Nope. Your HSA money is yours. You own it — you control it and the available funds. Even if you change jobs or health plan coverage, you take your HSA with you. It’s yours to keep, even after you retire. Any money you don’t use has the potential to grow over time to provide for your future.

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Resource library

Search our resource library for additional resources — from videos to financial wellness articles — that can help you learn more about how to save, pay and invest your health care dollars now and into retirement.

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*Note: regular income taxes apply.


Health savings accounts (HSAs) are offered or administered by Optum Bank®, Member FDIC, or ConnectYourCare, LLC, each a subsidiary of Optum Financial. HSAs 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. Flexible spending accounts/arrangements (FSAs), health reimbursement arrangements (HRAs), Commuter and Parking Benefits, Adoption Reimbursement Plans, Tuitions Reimbursement Plans, Surrogacy Reimbursement Plans, Lifestyle Plans, COBRA Benefits, and all other account types are administered on behalf of your plan sponsor by Optum Financial, Inc. or ConnectYourCare, LLC (collectively, “Optum Financial”) and are subject to eligibility and restrictions. Please contact a legal or tax professional for advice on eligibility, tax treatment, and restrictions. Please contact your plan administrator with questions about enrollment or plan restrictions. Federal and state laws and regulations and the design of your plan are subject to change.

Self-directed mutual fund investment options are made available through the services of an independent investment advisor, or your plan sponsor. Discretionary advisory services are provided by Betterment LLC, an SEC-registered investment adviser, with associated brokerage transactions provided by Betterment Securities, member FINRA/SIPC. For details and disclosures visit betterment.com. Certain brokerage services are offered through TD Ameritrade, Inc., member FDIC/SIPC and a subsidiary of The Charles Schwab Corporation.  For details and disclosures, visit  www.tdameritrade.com. The Schwab Health Savings Brokerage Account is offered through Charles Schwab & Co., Inc., member FINRA/SIPC. For details and disclosures, visit schwab.com.

Orders are accepted to effect transactions in securities only as an accommodation to HSA owners. Optum Financial and its subsidiaries are not broker-dealers or registered investment advisors and do not provide investment advice or research concerning securities, make recommendations concerning securities, or otherwise solicit securities transactions.

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