1. Overview of your Health Savings Account (HSA)

2. HSA eligibility You are eligible to open and contribute to an HSA if:
You are covered by an HSA qualifying high deductible health plan (HDHP)
You are not covered by any other health plan that is not a high deductible plan
You are not enrolled in Medicare, TRICARE or TRICARE for Life
You are not claimed as a dependent on someone else’s tax return
You are not covered by a health care flexible spending account (FSA)
You have not received Veterans Administration (VA) benefits within the past three months, except for preventive care. If you are a veteran with a disability rating from the VA, this exclusion does not apply.

3. What is an HSA?
Health savings accounts (HSAs) are designed to help you save and pay for qualified medical expenses $
Deposit money into your HSA.
Save on taxes. $
No “use it or lose it”. The money stays with you year after year, even if you retire or change employers.
Use your HSA to pay for qualified medical expenses.
Invest your savings in mutual funds.

4. Contribution limits Amount of contribution
The IRS determines how much you can deposit into your HSA each year.
Contribution rules
In 2018, the limit for individuals is $3,450 and the limit for families is $6,850. For mid-year enrollments, you still qualify for the full limit as long as you remain enrolled in the qualified health plan for the entirety of the following calendar year.
Additional contribution
If you are 55 years of age or higher, you can contribute an additional $1,000/year.
Employer contribution
Remember that Carleton College contributes $1000 to your HSA if you carry individual coverage, and $2000 if you carry family coverage, and that money counts towards the IRS limit.

5. The IRS determines the list of qualified medical expenses
A few examples: 1
Medical tests and devices
Operations/surgeries (non-cosmetic)
Nursing services
Physical therapy
Psychiatric care
Acupuncture
Alcohol/drug addiction treatment
Dental treatment
Doctor’s visits
Eye exams, glasses or contacts
Smoking cessation
Hearing aids and batteries
Easily save your receipts with receipt vault
IRS.gov or optumbank.com

6. What if you use your HSA for non-qualified medical expenses?
Less than 65 years old?
You pay income tax on the funds
-AND-
20% penalty by the IRS
You pay income tax on the funds only
65 or older?

7. Medicare and your HSA
Once you enroll in Medicare (Part A or B), you can no longer contribute to your HSA.
However, you can still withdraw funds to pay for qualified medical expenses.
But…why not let your money continue to grow? 1

8. You can grow your HSA dollars by choosing to invest in mutual funds
Investing your HSA
You can grow your HSA dollars by choosing to invest in mutual funds
Find the full list of mutual funds at optumbank.com
Investments are not FDIC insured, are not guaranteed by Optum Bank®, and may lose value.

9. How it works Step 1: Step 2: Step 3:
Log into your HSA and set up your investment account by choosing the funds you want to invest in. Then indicate the amount that you want to transfer over.
Step 2:
You can set up recurring transfers/sweeps. Any funds over your threshold will automatically be transferred to your investment account.
Step 3:
When you want to pay for any qualified medical expenses, you can transfer your investment funds back into your HSA.
Investments are not FDIC insured, are not guaranteed by Optum Bank®, and may lose value.

10. Managing your HSA online
Check your balance
Pay bills to health care providers
Reimburse yourself for qualified medical expenses paid out-of- pocket
Use HSA calculators
Check the contribution tracker for YTD contribution amounts
Use the convenient receipt vault
Manage investment activities for your HSA
optumbank.com
Investments are not FDIC-insured, are not guaranteed by Optum Bank®, and may lose value.

11. #1 financial worries in retirement financial worries in retirement
Saving for retirement #1
Health care expenses are one of the
financial worries in retirement
financial worries in retirement
costs predicted to reach 500K 1

12. Saving for retirement
Wondering if you’ve saved enough money for health care during retirement?

13. MasterCard®: Safety and Security Benefits
Optum Bank provides cardholders with MasterCard ID Theft Protection – at no extra cost – to help detect and resolve Identity Theft.
This benefit includes:
• ID Theft Alerts – This service tracks thousands of websites to learn if a cardholder’s personal information is being bought or sold online. Cardholders can register for Advance Alerts for early detection at mastercard.us/idtheftprotection.
• Expert Resolution Services – Expert assistance is available to help cardholders 24/7 if they think their identity has been stolen. They can call MASTERCARD. They will be assigned their own personal certified specialist, who will guide them through the process every step of the way.
• Emergency Wallet Replacement – Experts assist cardholders to quickly cancel and re- order the content of their physical wallet such as social security card, driver’s license and more. They can call MASTERCARD for assistance.
To bring cardholders this benefit, MasterCard and Optum Bank have partnered with CSID®, an industry leader in identity protection and fraud detection solutions.

14. What if you have more questions?
Call Optum Bank customer service (844)
Visit optumbank.com