What is Optima Equity and can it benefit you?
What is a High-Deductible Health Plan (HDHP) and a Health Savings Account (HSA)?
Is preventive care covered?
Can I get help with investment decisions?
Does my investment go with me if I change jobs or health plans?
Is my Optima Equity account easy to manage?
What is Optima Equity and can it benefit you?
What are some Frequently Asked Questions about Optima Equity and Health Savings Accounts?
This innovative product has two parts -- a high-deductible health plan and the ability to manage your investment.
A high-deductible health plan.
You pay monthly premiums, which are significantly lower than many other types of health insurance. The money you save on premiums is then available for you to “invest” in the other part of this product – a savings fund that grows for you tax-free. Through Optima Health’s partner, HealthEquity® you may invest a designated amount of your pre-tax income to use for qualified health care expenses. Your employer may also make contributions on your behalf. Because your health plan comes with a high deductible, you can use the dollars invested in your fund to pay for health care services.
Ability to manage your investment.
Once your money is invested, you can use it or allow it to keep growing. As long as you use the funds for eligible health care expenses, you may withdraw the money tax-free. Remember, you own the investment. That means any money you don’t choose to use for health care services keeps growing for you tax-free.
back to the top
An HDHP can be thought of as a “low cost” plan. With an HDHP, the member is responsible for satisfying a deductible and paying for initial healthcare expenses. The health savings account may be used to cover those expenses. The Optima HSA qualified plans are called “Optima Equity. It’s a savings and spending account that offers members a way to pay for qualified medical expenses with pre-tax dollars, as well as a tax-free way to save for future medical and retirement healthcare expenses. In order to open an HSA, you must be enrolled in a qualified High-Deductible Health Plan (HDHP).
Preventive care is covered.
Preventive care includes periodic check-ups, well baby care, annual gynecological exams, lab work, X-rays, mammograms, PSA testing, and vision and hearing screenings for children up to age 18. These preventive care services are covered regardless of your deductible. There is a nominal copay for office visits for preventive care.
Our investment partner, HealthEquity® has skilled, experienced investment advisors who can help educate you about your options and help you make investment choices based on your needs.
HealthEquity® offers a variety of mutual funds in which you can invest your Health Savings Account (HSA) dollars without paying a fee. You determine the level of risk, return, and how your investment will be allocated among various funds.
back to the top
Every bit of your health care investment goes with you even if you change jobs. This is how Optima Equity is a health care investment you own instead of merely renting.
Whatever dollars you invest toward your health expenses will be yours to keep. And they keep growing tax-free as long as you keep them invested.
We make it easy for you to get information about your health plan or your HSA investments. While visiting www.optimahealth.com, you can benefit from the tools and resources of both Optima Health and HealthEquity® through this one access point .
You’ll find tools to help you estimate costs for various health care procedures, as well as information about your Optima Equity network of providers and much more. Investment information is also available, with experts standing by to help you 24 hours a day. If you’re concerned about saving money, taking charge of your health care spending, and benefiting from your investment in health care protection, Optima Equity could well be the ideal solution.
Take a closer look, and see if this innovative, tax-advantage health plan is the smartest solution for you. Learn more about these tools.
back to the top
Quick Links:
View Common Questions about Optima Equity
Return to Optima Equity
Optima Health is the trade name of Optima Health Insurance Company. Optima Equity HSA qualified high deducible PPO is underwritten by Optima Health Insurance Company. Benefit exclusions and limitations apply. For costs and complete details about coverage ask your broker or employer. The information provided in this document is not tax or legal advice. The tax treatments vary for each situation. Please consult your tax and or legal counsel for tax implication of your unique situation.