You can open an HSA if you enrolled in a Bronze or Bronze Plus coverage level. When it’s time for you to pay for care or prescription drugs, your HSA gives you options:
Use Your HSA Debit Card
Just use it when you’re ready to pay for qualified medical expenses. The funds will be taken directly from your account.
Make sure you only use the card for eligible expenses, and that you have enough money in your HSA to cover it.
Log on to Optum Financial's website at optumrx.com to check your balance beforehand.
Pay Out of Pocket
If you prefer, you can pay for your expenses up front and pay yourself back through your HSA later. You’ll log on to Optum Financial's website at optumrx.com to transfer money from your HSA to your regular bank account. If you need help with this, contact Optum Financial at 1.877.470.1771.
Set Up Direct Payments
Another option is to have Optum Financial make direct payments to your provider from your HSA. Log on to optumrx.com to set up direct payments.
You can find a complete list of eligible expenses at https://www.irs.gov/publications/p502.
Don’t forget! If you use money from your HSA to pay for nonqualified expenses, you’ll pay taxes on that money. You’ll also pay an additional 20% penalty tax if you’re under age 65. This applies to expenses such as child care, cosmetic surgery, health club fees, teeth whitening products, and vitamins.
Keep Your Receipts!
Always remember to save your receipts when you make payments from your HSA, in case you need to provide proof of your eligible expenses to the IRS.
Learn more in the HSA User's Guide (PDF).