Your employees can save money while they plan for their expenses
When your employees use an FSA, their taxable income is reduced by the amount they contribute, up to the annual IRS limits. They can use the FSA to plan ahead and budget for eligible expenses and pay less because of their tax savings. Choose from different FSAs to meet your employees’ needs and complement your medical plan.
Key employee benefits
At Optum Financial, we deliver benefits that matter.
Health care FSA
Our FSA’s provide the following eligible expenses: medical, dental, vision, prescription, and certain over-the-counter items. You can use your FSA to save up to 30%* on all kinds of go-to health product.
Limited purpose FSA
These are compatible with an HSA and offer vision and dental as eligible expense. They also protect your HSA balance for deductible expenses and help you save for the future.
Dependent care FSA
Designed for employees who require dependent care while they’re at work. These dependents are typically under 13 or older adults who are incapable of self-care.
The Optum Financial payment card
From bandages to braces, and contacts to chiropractors, your employees can use their card and know they’re saving time and money. Most payment card** claims are automatically verified as eligible expenses and do not require any additional paperwork. Employees should save receipts in case transactions need validation under IRS guidelines.
The Optum Financial mobile app
Empower your employees with our mobile app for convenient on-the-go banking. They can effortlessly upload claims, document expenses and manage finances from anywhere.
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Complementary solutions
Solution suite
Health Savings Accounts for Employers
Give your employees the tools to take control of their care and save their valuable time with an Optum Financial Health Savings Account (HSA).
Solution suite
Health Reimbursement Arrangements for Employers
Use an HRA to help offset employees’ healthcare costs while providing tax savings to the organization.
*Savings compares using pretax income in your FSA to using after-tax income for purchases and assumes a 30% combined tax rate from all applicable federal, state and FICA taxes. Results and amount will vary depending on your circumstances.
**Optum Financial payment cards are not available for dependent care FSAs.
Health savings accounts (HSAs) are individual accounts held at Optum Bank® , Member FDIC, unless otherwise indicated, and administered by Optum Financial, Inc. or ConnectYourCare, LLC, an IRS Designated Non-Bank Custodian of HSAs, 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 and/or local taxes may still apply. Fees may reduce earnings on account. Refer to your HSA account agreement for details.
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, “EmployerSponsored Plans”) are administered on behalf of your plan sponsor by Optum Financial, Inc. or ConnectYourCare, LLC 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. Consult 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.
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