Page 8 - Guide
P. 8
2017 Benefits Enrollment
How to Open an Optum HSA
If you are enrolled in the CDHP medical plan, you will have the option to
open a health savings account through Optum Bank. Follow these steps
to open your account.
Visit www.OptumBank.com
Select open an HSA
Follow the steps to open your HSA
Items you will be asked to complete
Your information including home address (must be a physical
address, PO Box numbers will not be accepted)
Employer: American Food and Vending
Group number: 71775
For assistance call 866.234.8913; available 8:00 a.m. to 8:00 p.m. EST.
How do Health Savings Accounts (HSAs)
and Flexible Spending Accounts (FSAs) Work
Together?
IRS rules prohibit an employee from contributing to a healthcare FSA
and an HSA at the same time. For you to be able to fund and use an HSA
beginning January 1, 2017, you cannot have a balance in a healthcare FSA.
In addition, you may not contribute to an HSA while your spouse is
contributing to an FSA through his or her employer. Conversely, a
spouse may not contribute to an FSA while you are contributing to an
HSA. Unlike the FSA, HSA funds are not available until they have been
accumulated in your HSA bank account.
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How to Open an Optum HSA
If you are enrolled in the CDHP medical plan, you will have the option to
open a health savings account through Optum Bank. Follow these steps
to open your account.
Visit www.OptumBank.com
Select open an HSA
Follow the steps to open your HSA
Items you will be asked to complete
Your information including home address (must be a physical
address, PO Box numbers will not be accepted)
Employer: American Food and Vending
Group number: 71775
For assistance call 866.234.8913; available 8:00 a.m. to 8:00 p.m. EST.
How do Health Savings Accounts (HSAs)
and Flexible Spending Accounts (FSAs) Work
Together?
IRS rules prohibit an employee from contributing to a healthcare FSA
and an HSA at the same time. For you to be able to fund and use an HSA
beginning January 1, 2017, you cannot have a balance in a healthcare FSA.
In addition, you may not contribute to an HSA while your spouse is
contributing to an FSA through his or her employer. Conversely, a
spouse may not contribute to an FSA while you are contributing to an
HSA. Unlike the FSA, HSA funds are not available until they have been
accumulated in your HSA bank account.
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