Best-in-class health plans should be coupled with the best Consumer Directed Healthcare administration
Rising costs for employers and the need for employees to take a more active role in responsibly managing their own care has made it essential for today’s health insurance plans to offer clients superior consumer-directed health care (CDH) and other tax-advantaged offerings.
With over 15 years of experience as a pioneer in the Consumer Directed Healthcare market, Optum Financial is an ideal partner for Consumer Directed Healthcare administration.
Couple your leading insurance benefits with our leading Consumer Directed Healthcare administration to help clients save time and money with an all-in-one Consumer Directed Healthcare administration platform – all with the peace of mind that comes from knowing your brand and service standards are well represented.
How Optum Financial Benefits Providers
- Best-in-class, flexible Consumer Directed Healthcare platform that offers a breadth of product offerings and scalability
- Customizable solutions with a variety of co-branding/white-label options
- Leading support model for ease of administration and enablement
How Optum Financial Benefits Employers
- Behavioral insights on macro employee population, and adoption analysis
- Educational tools to promote offering and increase adoption
- Streamlined service model with self-serving tools
Optum Financial has simplified the FSA process with a very well organized program and helpful customer service representatives.
How Optum Financial Benefits Employees
- All-in-one benefits platform and account payment cards resulting in streamlined, no-noise experience
24/7 U.S.-based customer service and superior claims processing resulting in high satisfaction rates
- Access to funds early in the plan year with On Demand functionality
Empower Employees from Day 1
Organizations have seen a 62% increase in HSA adoption as a result of offering HSA On Demand®.
Your clients can leverage this unique solution to address the #1 fear of employees in adopting CDH plans – greater financial risk – by giving them access to their full year’s HSA contributions at the start of the plan year.
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HSA and FSA Eligible Expenses for Mom, Baby, and Parents-to-be
Parenting and motherhood are some of the greatest joys in life, but it does require some financial planning! Thankfully, HSAs and FSAs exist to help parents offset the cost of medical expenses for their kids and themselves, and there is a long list of items and services that are eligible for every stage of childrearing. Check out all the eligible items in this post.
COVID-19 Personal Protective Equipment (PPE) Now Eligible for FSA, HSA, and HRA Reimbursement
On March 26 the Internal Revenue Service (IRS) released IRS Announcement 2021-7, which states that personal protective equipment such as masks, hand sanitizer, and sanitizing wipes that are purchased “for the primary purpose of preventing the spread of COVID-19” (COVID-19 PPE) are qualified medical expenses under Section 213(d) of the Code.
American Rescue Plan Act of 2021: Provisions for Dependent Care FSAs and COBRA
On March 11, the American Rescue Plan Act (ARPA) of 2021 was signed into law. As a result, temporary provisions have been announced that apply to COBRA, as well as Dependent Care Assistance Programs (DCAPs)—also known as Dependent Care Flexible Spending Accounts (FSAs). Read on for a brief summary of these provisions.