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HSA On Demand

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A unique solution that allows employees to access their full year’s contribution at any time of the year to pay for a medical expense.

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Learn more about HSA On Demand

HSA On Demand® is a unique Optum Financial solution that allows employees to access their full year’s contribution — including employee and employer elections — at any time of the year to pay for a medical expense.

If a participant incurs an eligible expense exceeding their account balance, funds are employer-backed and immediately accelerated to cover the expense — right at the point of service.

HSA On Demand is not a loan or a line of credit, but an acceleration of future contributions. There is no paperwork, interest, or penalty for HSA On Demand funds, and employees do not have to take any extra steps in order to pay the funds back.

Employees simply continue contributing to the HSA with each paycheck as usual, until the acceleration is repaid automatically through normal payroll deductions.

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HSA On Demand

Through HSA On Demand, your employees can access future health savings account contributions whenever they need extra funds to pay for qualified medical expenses and avoid out-of-pocket costs. Funds are automatically accelerated when needed for a qualified medical expense, right at the point of sale. Employees can ultimately take comfort in knowing that their expenses are covered.

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No one likes paying more than required for taxes, or hefty out-of-pocket medical expenses. With a health savings account, or HSA, you can take advantage of potential tax savings while building up funds to cover future medical expenses.

But what if it’s your first time enrolling into a high-deductible health plan and you’re worried about high upfront expenses? This is where HSA On Demand can provide an added value to your health savings account.

Through HSA On Demand, you can access your future health savings account contributions whenever you need extra funds to pay for qualified medical expenses and avoid out-of-pocket costs. Funds are automatically accelerated when needed for a qualified medical expense, right at the point of sale. You can ultimately take comfort in knowing your expenses are covered.

Let’s say, for example, you need $40 to pay for a doctor’s visit and a prescription. Your HSA balance is $0 at the beginning of the plan year…but that doesn’t matter. Luckily your employer offers HSA on Demand, and when you go to swipe your health savings account debit card to cover the visit and the prescription, the funds are there. Nothing to pay out of pocket! The accelerated funds will be paid back through future account contributions.

And what if you don’t have any upfront medical expenses to manage? Your account contributions will continue to accrue and can be carried over year after year…even through retirement!

HSA On Demand: simple, convenient, and offering peace of mind.

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FAQs

How it works

With most HSAs, employees can only use funds after they’ve been deposited into the account. This means that there may be times, especially near the beginning of the plan year, where the HSA balance might be insufficient to cover an employee’s eligible medical expenses.

With HSA On Demand, employees can access future contributions before they’re deposited, to cover these expenses.

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  • HSA On Demand allows access to funds before expected contributions are applied to the health savings account. It’s basically an acceleration of funds that enables access to future HSA contributions. The feature is optional, at the discretion of the employer. Your company can decide if employee, employer, or both types of contributions will be accelerated, and whether there is a cap on the accelerated amount.

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  • After setup, HSA On Demand works automatically. If an employee is paying for an eligible expense with the health care payment card, the program will automatically cover the amount needed — up to the available limit — right at the point of sale. It works the same way if an employee chooses to pay with personal funds and then requests reimbursement.

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  • Claims will pay first from any available HSA balance. If the HSA balance is not sufficient to pay the claim, then any available program funds can be used. HSA On Demand is plan-year specific, meaning accelerated funds can only be accessed for payment card transactions or claims submitted with dates of service in the current plan year.

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  • Accelerated funds are available on the first day of the plan year; however, accelerations are only available after a claim is incurred. Employees cannot access additional funds if there is no claim to pay.

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  • Since funds are accelerated future contributions, the amount available for employees to use decreases throughout the plan year. The amount available for use is visible at any time online.

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  • There is no paperwork, interest, or penalty for HSA On Demand funds, and employees do not have to take any extra steps in order to pay the funds back. Future HSA contributions are simply reduced by the amount used until it is all paid back, and the HSA balance will not increase until scheduled HSA contributions pay off the amount used.

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Self-directed mutual fund investment options are made available through the services of an independent investment advisor, or your plan sponsor. Discretionary advisory services are provided by Betterment LLC, an SEC-registered investment adviser, with associated brokerage transactions provided by Betterment Securities, Member FINRA/SIPC. For details and disclosures visit betterment.com. The Schwab Health Savings Brokerage Account is offered to certain account holders through Charles Schwab & Co., Inc., Member FINRA/SIPC. For details and disclosures, visit schwab.com. Brokerage services are offered to certain accountholders through TD Ameritrade, Inc., Member FDIC/SIPC and a subsidiary of The Charles Schwab Corporation. For details and disclosures, visit tdameritrade.com.

Orders are accepted to effect transactions in securities only as an accommodation to HSA owners. Optum Financial and its subsidiaries are not broker-dealer or registered investment advisors and do not provide investment advice or research concerning securities, make recommendations concerning securities, or otherwise solicit securities transactions.

Health savings accounts (HSAs) are individual accounts offered through Optum Bank®, Member FDIC, or ConnectYourCare, LLC, an IRS-Designated Non-Bank Custodian of HSAs, each 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 taxes may apply. Fees may reduce earnings on account.

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, “Employer-Sponsored Plans”) are administered on behalf of your plan sponsor by Optum Financial, Inc. or ConnectYourCare, LLC (collectively, "Optum Financial") 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. Federal and state laws and regulations are subject to change. Please contact 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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The promotional code OPTFSA7, OPTHSA5 and OPTHRA7 cannot be applied to previously placed orders, and cannot be combined with other promotional codes. Additionally, the code cannot be used for prescription drugs or virtual care visits. Promotional codes are not transferable or redeemable for cash or credit. To apply a promotional code you must enter it prior to completing the order.

Free and expedited shipping offers do not apply to shipping outside of the contiguous United States. Additional shipping restrictions may apply.

The Optum Store is an affiliate of the UnitedHealth Group family of companies.

Your employer sponsored plan may exclude reimbursement for certain categories of items. Check your plan document and summary plan description or contact your benefits department for specific coverage details. 

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