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How to use an HSA

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How to Use an HSA

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Save smart. It’s easy to do with your health savings account or HSA. Start by simply making a deposit into your HSA. One way is through payroll deduction, if you employer offers that option. Decide how much you want to contribute from each paycheck and that amount is automatically deposited into your account.

You can also make an online deposit at optumfinancial.com, either as a one time or recurring contribution. And you’re not the only one who can contribute to your account, anyone can. So, if your birthday is right around the corner, go ahead and put HSA deposit on your wish list. Just remember that all deposits count towards the annual contribution limits set by the IRS. Be sure to use the HSA calculator at optumfinancial.com to determine how much you can contribute, while you’re at it use it to estimate your tax savings.


Now it’s time to put your HSA to work. You can use your HSA dollars to pay for qualified medical expenses for you and your eligible dependents.

The easiest way to pay is with your HSA debit card, you can use it on the spot or after you receive a bill. You’ll receive your debit card in the mail shortly after your account is opened. Another easy option is to pay online at optumfinancial.com, where you can send payments directly to healthcare providers, pharmacies, or other payees.

Already paid your bill out of pocket? No problem, it’s easy to reimburse yourself. Sign in to your account to request an electronic or check reimbursement.

Finally, make sure you keep your receipts. You can conveniently upload and store them on optumfinancial.com,  using our “virtual shoebox” called HSA Save-It! This helps you keep track of them in case you want to reimburse yourself at a later date, or if you’re ever audited by the IRS.

Just another way to help you save smart.

Still have questions about your HSA? Visit optumfinancial.com to learn more.

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Learn how to make deposits to and withdrawals from your health savings account (HSA).

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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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