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Health savings account (HSA) FAQs

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Get answers on contribution limits, qualified medical expenses, tax forms and more. 

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HSA frequently asked questions

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  • We’re here to help make sure you understand how to use your new health savings account (HSA) and prepare for financial wellness. You can visit our resource library for videos and other educational materials to help you make the most of your HSA.

    If you’ve just opened an HSA, you can also follow our new account holder checklist to get off to a good start. 

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  • HealthSafe ID is an enhanced, secure way to sign in to your accounts. It allows you to use a single username and password across multiple Optum and UnitedHealthcare websites. HealthSafe ID uses two-factor authentication and industry-leading technology to keep your account safe and secure.

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  • No. If you already have a HealthSafe ID username and password that you use to access other Optum or UnitedHealthcare websites, you do not need to create a new one. Your existing credentials will work across any websites that use HealthSafe ID sign-in technology.

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  • Find out whether your expense is qualified by checking out the qualified medical expense tool.  

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  • There are three ways to make a contribution to your HSA.

    Set up recurring contributions
    Sign in to your account to set up recurring contributions to ensure you’re contributing the maximum allowed by the IRS each year. 

    Make a one-time contribution
    If you haven’t contributed the maximum allowed by the IRS, you can make a one-time contribution to your account at any time.

    Employer payroll deductions
    Some employers offer payroll deductions. You should check with your employer to see if payroll deduction contributions are available to you.

    Visit our website to learn more about making a contribution to your HSA

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  • The IRS sets guidelines for how much you can contribute to an HSA each year. 

    2022 limits:
    An individual can contribute up to $3,650 (increase of $50 from 2021) for the year.
    An individual with family coverage can contribute up to $7,300 (increase of $100 from 2021) for the year.

    If you are age 55 or older, you can contribute an additional catch-up contribution of $1,000 per year. If your spouse is also 55 or older, he or she may establish a separate HSA and make a “catch-up” contribution to that account.

    Sign in to your account today and check your contribution limit. 

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  • The IRS sets guidelines for how much you can contribute to an HSA each year. 

    2021 limits:
    An individual can contribute up to $3,600 (increase of $50 from 2020) for the year.
    An individual with family coverage can contribute up to $7,200 (increase of $100 from 2020) for the year.

    If you are age 55 or older, you can contribute an additional catch-up contribution of $1,000 per year. If your spouse is also 55 or older, he or she may establish a separate HSA and make a “catch-up” contribution to that account.

    Sign in to your account today and check your contribution limit. 

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  • No. You can keep your account, and the money in it remains yours, no matter what, even if you change jobs or move off a qualifying high-deductible health plan.

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  • You do not have to close your account, and you can continue using the money in your HSA even in retirement. However, if you no longer participate in a qualifying high-deductible health plan, you can’t make additional contributions.

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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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