Current Provider: Optum Financial

  • Customer Service: 866-347-7276
  • Optum Financial HSA Introduction (PDF)
  • Website: Optum Financial
  • To login/register: Optum Financial uses a login experience called HealthSafe ID. This security feature uses two-factor authentication and allows you to use a single username and password when accessing other Optum sites that use HealthSafe ID. Download Step-by-step instructions (PDF) for creating a HealthSafe ID. Note: If you have previously used HealthSafe ID, you do not need to create a new one. You should click the Sign in button on the HealthSafe ID page to access your account. If you can’t remember your HealthSafe ID credentials, you can easily reset them during the sign-in process.

A Health Savings Account, or HSA, is a custodial account established to receive tax-favored contributions on behalf of eligible active employees enrolled only in a qualified WashU high deductible health plan to pay for qualified medical expenses.

Not all employees will be better off with an HSA as compared with traditional low deductible or co-pay health plans. Those who are currently infrequent users of health care and/or have higher incomes and are looking for sheltered savings opportunities are likely to be the first to find HSA’s attractive.

Eligibility

Regular faculty or staff members working 50% FTE or more are eligible to participate in the Health Savings Account (HSA) as long as the employee is enrolled in the High Deductible Health Plan (HDHP) and not enrolled in Medicare, Tricare or have had VA benefits within the last three months. You cannot be enrolled in both a Health Care Flexible Spending Account and the Health Savings Account at the same time. 

Employee Contributions

The maximum annual contribution amount for 2022 is $3,650 for an individual and $7,300 for a family. HSA participants who will be age 55 or older in calendar year 2022 may elect to make an additional “catch-up” contribution of up to $1,000. Note: If you are covering a domestic partner and/or child of a domestic partner under the HDHP and are NOT covering your dependent child, you may only contribute up to the individual maximum annual contribution amount. Under IRS rules, if you are covering a domestic partner and/or child of a domestic partner under the HDHP, you cannot be reimbursed from your HSA for health care expenses incurred by your domestic partner and/or child of your domestic partner.

University Contribution

The university will contribute $400 annually to your HSA account if you are enrolled in individual coverage under the HDHP and you contribute a minimum of $200 per year. The university will contribute $800 annually to your HSA account if you are enrolled in family coverage under the HDHP and you contribute a minimum of $200 per year, with one exception. If you are covering a domestic partner and/or child of a domestic partner under the HDHP and are NOT covering your dependent child, the university will contribute $400 to your HSA.

The $400 university contribution reduces the maximum amount you may contribute to $3,250 for an individual and the $800 university contribution reduces the maximum amount you may contribute to $6,500 for a family. In order to receive the university contribution to the HSA, you must be enrolled in the HDHP and the HSA as of January 1st of the calendar year. The university’s contribution will be a one time, lump sum deposit made in late January and available in the employee’s HSA no later than the first week of February. Note: If you participated in the Health Care FSA in the calendar year prior to enrolling in the HSA and you still have money in your Health Care FSA as of January 1, the university contribution will be delayed until April and available by the first week of May.

The university contribution can only be made to the HSA account that is sponsored by the university. If you elect not to open an HSA through Optum Financial, then you will not receive the university contribution.

WashU Couples: Both members of a WashU Couple may enroll in the HSA if they are each separately enrolled in WashU’s HDHP. Each member separately enrolled in the HDHP is eligible to receive the university contribution to the HSA applicable to their respective HDHP coverage level, provided they are making the minimum HSA contribution. The combined contribution elections made by the WashU couple cannot exceed the annual HSA contribution limit for family coverage.

Enrollment Period

Eligible employees may enroll and/or change their election at any time during the calendar year. Note: Your enrollment elections do not automatically carry over from year to year. You must re-enroll each year during open enrollment to continue your participation in this plan. 

Note: The university will pay the administration fees for all active employees who are currently participating in the plan. Once the employee terminates, retires, or discontinues participation in the HSA, the fees will be the responsibility of the employee.

Effective Date

Benefits eligible rehires and new hires become eligible for coverage on their date of hire. Changes made during the year will be effective as of the date the change is made. Changes made during the annual Open Enrollment period in November are effective January 1 of the subsequent year.

Filing Claims with Optum Financial

Eligible employees who enroll in the HSA will receive a healthcare payment card that they can use at the pharmacy, their doctor’s office, or at other health, dental or vision care providers. Enrolled employees may also use Optum Financial’s online and mobile Bill Pay Option, through which they can request a withdrawal from their HSA, payable either to themselves or to their health care provider.

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