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What is a health care FSA?

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Health Care Flexible Spending Account


Making your money work for you. That’s the idea behind the Optum Financial health care flexible spending account, or FSA. Offered through your employer, an FSA is a smart, income tax-free way to help you pay for eligible medical expenses.

It’s simple to enroll. Decide how much you want to set aside from your paycheck – before it’s taxed -- for eligible health care expenses during your benefits plan year. When the year starts, all of that money is put into your FSA. You don’t have to wait for it.

When it’s time to pay for eligible expenses, you can use a personal check or a credit card. Just submit a claim request online – or use our mobile app. Either way, you’ll be able to easily keep track of your transactions anytime, anywhere.

As you get started, there are a few things to remember. Check your plan documents to see what expenses are covered. Generally, things like doctor visits, eye exams and diagnostic tests are covered. Things like cosmetic surgery, teeth whitening or vitamins are typically not covered.

An FSA is also a “use it or lose it” account. Some plans have a grace period or a carryover provision, but if you don’t use all your FSA dollars in a given year -- you’ll typically lose the remaining cash.

Finally, an FSA is also a great supplement to other eligible health accounts you may have – be it a health reimbursement account or a dependent care FSA.

Together, it all works for you. Check your benefit information to see if you’re eligible. The Optum Financial health care flexible spending account. The smart, income tax-free way to pay for eligible health care expenses!

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Video on what health care flexible spending accounts (FSAs) are and how they work.

Related resources

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What is a dependent care FSA?

Learn how you can use tax-free money to pay for dependent care.
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Spending your FSA dollars

Learn more about how to manage your FSA funds so you don't lose them.
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What is a limited purpose FSA?

Find out why pairing a limited purpose FSA with an HSA may be a smart choice.

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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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. The Schwab Health Savings Brokerage Account is offered to certain account holders through Charles Schwab & Co., Inc., Member FINRA/SIPC. For details and disclosures, visit schwab.com. Brokerage services are offered to certain accountholders through TD Ameritrade, Inc., Member FDIC/SIPC and a subsidiary of The Charles Schwab Corporation. For details and disclosures, visit tdameritrade.com.

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

Health savings accounts (HSAs) are individual accounts offered through Optum Bank®, Member FDIC, or ConnectYourCare, LLC, an IRS-Designated Non-Bank Custodian of HSAs, each a subsidiary of Optum Financial, Inc. Neither Optum Financial, Inc. nor ConnectYourCare, LLC is a bank or an FDIC insured institution. 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 (FSAs), dependent care assistance programs (DCAPs), health reimbursement arrangements (HRAs), Commuter and Parking Benefits, Tuition Assistance Plans, Adoption Assistance Plans, Surrogacy Assistance Plans, Wellness Benefits, and Lifestyle Accounts (collectively, “Employer-Sponsored Plans”) 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. Employer-Sponsored Plans are not individually owned and amounts available under the Employer-Sponsored Plan are not FDIC insured. This communication is not intended as legal or tax advice. Federal and state laws and regulations are subject to change. 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.

Google Play and the Google Play logo are trademarks of Google LLC. Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc., registered in the U.S. and other countries.

The promotional code OPTFSA7, OPTHSA5 and OPTHRA7 cannot be applied to previously placed orders, and cannot be combined with other promotional codes. Additionally, the code cannot be used for prescription drugs or virtual care visits. Promotional codes are not transferable or redeemable for cash or credit. To apply a promotional code you must enter it prior to completing the order.

Free and expedited shipping offers do not apply to shipping outside of the contiguous United States. Additional shipping restrictions may apply.

The Optum Store is an affiliate of the UnitedHealth Group family of companies.

Your employer sponsored plan may exclude reimbursement for certain categories of items. Check your plan document and summary plan description or contact your benefits department for specific coverage details. 

© 2022 Optum, Inc. All rights reserved

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Investments are not FDIC insured, are not bank issued or guaranteed by Optum Financial or its subsidiaries, including Optum Bank, and are subject to risk including fluctuations in value and the possible loss of the principal amount invested.