This includes deductibles, co-insurance, prescriptions, dental and vision care, and more. Access fees may also be charged by the ATM owner. The more you save in your HRA, the more funds you will have to pay eligible medical expenses when they occur. Your employer funds your HRA pre-tax. HRAs are only funded by your employer. 2023 HSA contribution limits: An individual with coverage under a qualifying high-deductible health plan (deductible not less than $1,500) can contribute up to $3,850 up $200 from 2022 for the year to their HSA. ATM and outbound transfer fee: $2.50 per ATM transaction that Optum Bank charges. Free and expedited shipping offers do not apply to shipping outside of the contiguous United States. 2023 Optum, Inc. All rights reserved. We've outlined the fees, how they may apply to your account and, where possible, how to avoid certain fees in the chart below. These limits exist as a safeguard against fraudulent activity. For details and disclosures visitbetterment.com. What are the differences between Healthcare FSAs, Limited Purpose FSAs, and Dependent Care FSAs? Alternatively, if you have an FSA or Limited Purpose FSA, you may be eligible to roll over up to $500 of your contribution to the next plan year, provided your employer has changed the plan documents to allow this. $3.00 Waived if average balance is $5,000 or more*. If your employer is not obligated to offer you COBRA and/or you choose not to elect COBRA, you are eligible to be reimbursed for qualified expenses incurred while you were employed and the account was active. Remember your payment card and you can forget about the paperwork since your purchases will be recorded and, almost always, automatically verified. 2022 HSA contribution limits: An individual with coverage under a qualifying high-deductible health plan (deductible not less than $1,400) can contribute up to $3,650 up $50 from 2021 for the year to their HSA. To apply a promotional code you must enter it prior to completing the order. If your spouse is also 55 or older, he or she may establish a separate HSA and make a "catch-up" contribution to that account. Orders are accepted to effect transactions in securities only as an accommodation to HSA owners. App Store is a service mark of Apple Inc., registered in the U.S. and other countries. The number of debit card transactions allowed per day is limited and varies based on how the card is used or types of transactions processed. Can I use my HSA debit card after I terminate employment? Money that would otherwise be lost to high premiums could be invested in a tax-free, interest-bearing HSA. If you are covered by another health plan (such as through your spouse's employer), that health plan must meet the criteria outlined above for a qualified HDHP. If you are 55 or older, you can contribute an additional $1,000 each year. Use our qualified medical expense tool to filter by account type and expense type to see if it qualifies. The promotional code OPTFSA7, OPTHSA5 and OPTHRA7 cannot be applied to previously placed orders, and cannot be combined with other promotional codes. If youve forgotten your PIN or need to change it, call the customer service phone number on the back of your debit card. Limited purpose flexible spending account, Language Assistance / Non-Discrimination Notice, Asistencia de Idiomas / Aviso de no Discriminacin. For details and disclosures visit betterment.com. Federal and state laws and regulations are subject to change. If you are age 55 or older, you can contribute an additional catch-up contribution of $1,000 per year.
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