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Southeast Missouri State University

A Health Savings Account is an interest-bearing account that can be used to pay for qualified medical expenses. However, HSA’s by IRS guidelines do not have the “use it or lose it” mandate as in the medical reimbursement account and instead allows participants to build savings accounts to pay for immediate or future medical expenses or even Medicare premiums at a later time. Visit the Optum Bank website to learn more about owning and managing a Health Savings Account.

For New Account Elected During New Hire Benefit Orientation

Contributions to your HSA will occur with each paycheck for monthly paid employees and with the first two paychecks each month for biweekly paid employees. Account holder must activate their accounts before their first pay check.  A debit card free of charge will be issued with this account. Once accounts are activated, Optum Bank will issue a welcome kit to the account holder, which includes account information plus a Beneficiary Form for completion and submission to Optum Bank.

For New Account Elected During Open Enrollment

Contributions to your HSA will occur with each paycheck for monthly paid employees and with the first two paychecks each month for biweekly paid employees. Half of university-provided cafeteria plan dollars that are funding a portion or all of the HSA will be contributed with the January payroll(s).

The remaining half will be contributed with the February through December payroll(s). New account holders for will need to activate their HSA with Optum Bank.  Account holders must activate their accounts prior to January 1.  A debit card free of charge will be issued with this account. Once accounts are activated, Optum Bank will issue a welcome kit to the account holder, which includes account information plus a Beneficiary Form for completion and submission to Optum Bank.

Additional Information

Optum Bank provides two fee schedules. Upon account activation, the eInvestor Fee Schedule product will automatically apply. Account holders have the option at any time to switch to the eSaver fee schedule product by contacting Optum Bank customer service at 1-800-791-9361 and selecting option 0. Initial account set-up and monthly maintenance fees will be waived while account holders are insured by the university’s medical Base Plan.

Visit the Optum Bank website to learn more about managing your new HSA: http://www.optumhealthbank.com. To contact Optum Bank directly, call the Customer Service toll-free number listed below.

Optum Bank Update: New website design and changes

Contact Information

Customer Service

Phone: (866)-234-8913
Fax: (866) 314-9795

Automated information is available 24 hours a day. Customer service representatives are available Monday through Friday, 8:00 am to 8:00 pm, Eastern Time.

Mailing Address

Optum Bank
P.O. Box 271629
Salt Lake City, Utah 84127-1629

Forms for Health Saving Account Transactions

HSA Form Trustee-to-Trustee

Form used to rollover Mellon HSA balance into Optum Bank HSA

HSA Rollover Transfer Form

Form used to rollover or transfer of HSA assets currently held by another custodian/trustee to Optum Bank

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