Contact Us
OptumHealth Financial Services
12501 Whitewater Dr.
Minnetonka, MN 55343
(866) 427-6804
engage@optumhealth.com
OptumHealthFinancial.com
Ask the Experts
Question: What if I have family HDHP coverage, my husband and I are both under 55, and I contribute $7,150 to my HSA in calender year 2010? What is my tax consequence for the excess contribution?
In the News
Todd Berkley, HSA businessleader, is quoted in an article on HSAs in National Underwriter.
Karli Dunkelberger, national vice president, regional sales, talks about creative ways to increase employee participation in health accounts in Employee Benefit Adviser.
Events Calendar
OptumHealth Financial Services will attend these events, and more, in November. If you also are attending, please visit us. See our upcoming calendar of events.
Webinar: How HSAs Work for America, November 5, 2010, 1:00pm - 2:00pm ET. Click here for more information and to register.
in this issue:
One Broker's Best Ideas for Choosing an HSA AdministratorMake Open Enrollment Season Easy On Your CustomersOTC Medicines, FSAs and Health Care Reform
One Broker's Best Ideas for Choosing an HSA Administrator
Beth Bennett of Tampa, Fla., makes it a point to tune her proposals to the needs not only of the business owners, but also their employees and families. No detail is too small — including the selection of a health savings account (HSA) administrator. She shared her criteria for making that choice.
Beth Benett's Best Ideas for Choosing an HSA Administrator
Beth Bennett co-founded Custom Outsourcing in Tampa with two partners in 1998. Today, she runs the six-person Tampa office of Brown & Brown, Inc., the large national insurance organization that bought Custom Outsourcing in 2008.
"Although we are now part of a large company, I still consider myself to be my clients' trusted advisor," Beth says. "High-deductible health plans (HDHPs) represent about 40 percent of our business, and our job is to gather proposals from several carriers in our market. I usually recommend one HDHP to each client."
Make Open Enrollment Season Easy On Your Customers
It's no surprise that companies that do a great job communicating during open enrollment get more employees to sign up for benefits. And it's no surprise that many HR departments don't have the communications support they need to move their communications from so-so to great.
That's where you can come in. Your customers need easy ways to educate their employees and tools to help increase enrollment rates. You can be a hero with your customers by providing them with the tools to get the job done.
Tools such as videos, webinars and self-guided tours are a great way to educate employees on the benefits of health accounts and can reduce the demands on you to hold open enrollment meetings for your clients.
OTC Medicines, FSAs and Health Care Reform
This fall you’ll want to share information about new restrictions on over-the-counter medication purchases with your clients and their employees who enroll in flexible spending accounts (FSAs).
Health care reform legislation signed by the President into law earlier this year changed the rules for health care FSA plans: Participants cannot use an FSA to pay for OTC drugs or medicines purchased after Jan 1, 2011 unless they are prescribed by a doctor or other health care professional.
OptumHealth Financial Services applies the best thinking in financial services to the finance of health care. Working with employers, health plans, financial institutions and government agencies, we create solutions that make health care simpler, more affordable and more accessible.
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12501 Whitewater Dr., Minnetonka, MN 55343 | (866) 427-6804 | engage@optumhealth.com | OptumHealthFinancial.com
© 2010 OptumHealth Financial Services, Inc. All rights reserved.
The information and comments expressed herein reflect the personal views of the individuals quoted, each in their individual capacities, and may not necessarily represent the views of OptumHealth Financial Services.
Health savings accounts (HSAs) are individual accounts offered by OptumHealth BankSM, Member FDIC, and are subject to eligibility and restrictions, including but not limited to restrictions on distributions for qualified medical expenses set forth in section 213(d) of the Internal Revenue Code. This communication is not intended as legal or tax advice. Please contact a competent legal or tax professional for personal advice on eligibility, tax treatment, and restrictions. Federal and state laws and regulations are subject to change.
Volume 2 | Issue IV | October 2010 | Share this newsletter »
