Estate planning at Optum Bank
How to protect 7 Optum Bank accounts — manage beneficiaries online, fund a trust by mail, and file death claims
Customer Service
Phone1-866-234-8913
Mailing Address
Optum Bank, P.O. Box 271629, Salt Lake City, UT 84127-1629
UHC HSA Members
MyCDH HSA Members
FSA / HRA / Dependent Care
Medicare Advantage MSA
Commuter Benefits
Retiree Reimbursement (RRA)
Employer Support
Providers / Health Plans
COBRA / HealthSafe ID
WebsiteLearn more→
Customer Service
Phone1-866-234-8913
Mailing Address
Optum Bank, P.O. Box 271629, Salt Lake City, UT 84127-1629
UHC HSA Members
MyCDH HSA Members
FSA / HRA / Dependent Care
Medicare Advantage MSA
Commuter Benefits
Retiree Reimbursement (RRA)
Employer Support
Providers / Health Plans
COBRA / HealthSafe ID
WebsiteLearn more→
Death Claims / Beneficiary Distributions
Phone1-866-234-8913
Mailing Address
Optum Bank, P.O. Box 271629, Salt Lake City, UT 84127-1629
Verified Apr 2026
Optum Bank has 7 accounts, each with different rules for what happens when the account holder dies. Of those, 1 can name a trust as beneficiary or be retitled into a trust. The right combination of beneficiary designations and trust ownership can keep the entire portfolio out of probate.
Account holders can update their beneficiary designations at Optum Bank online, by mail, and by phone. Accounts can also be retitled into a trust to keep them out of probate entirely.
There are two sides to estate planning at Optum Bank: setting things up while you're alive, and the process survivors follow after a death.
Preparing your estate
Beneficiaries and trust funding
How to manage beneficiaries online, fund a trust by mail, and review 7 account types at Optum Bank.
View details →When someone dies
Death claim process
4-step process, 6 required documents, and contact information for survivors.
View details →Frequently asked questions
An HSA (Health Savings Account) is individually owned, portable between employers, has no use-it-or-lose-it rule, and allows beneficiary designations. An FSA (Flexible Spending Account) is employer-owned, does not transfer between jobs, has use-it-or-lose-it rules (with limited carryover of up to $680 for the 2026 plan year), and does not allow beneficiary designations. HSAs require enrollment in a High Deductible Health Plan; FSAs do not. The 2026 Dependent Care FSA limit is $7,500 per household ($3,750 married filing separately). HSAs have significant estate planning implications; FSAs generally do not.
Yes. After age 65, HSA funds can be withdrawn for any purpose without the 20% penalty (though withdrawals for non-medical expenses are subject to regular income tax, similar to a Traditional IRA). Withdrawals for qualified medical expenses remain tax-free at any age. This dual-purpose flexibility makes HSAs a powerful retirement savings vehicle. Optum Bank offers investment options through their mutual fund lineup to facilitate long-term growth.
Sources
Data sourced from Optum Bank primary sources (11 pages reviewed). How we research.
Customer Service
Phone1-866-234-8913
Mailing Address
Optum Bank, P.O. Box 271629, Salt Lake City, UT 84127-1629
UHC HSA Members
MyCDH HSA Members
FSA / HRA / Dependent Care
Medicare Advantage MSA
Commuter Benefits
Retiree Reimbursement (RRA)
Employer Support
Providers / Health Plans
COBRA / HealthSafe ID
WebsiteLearn more→
Customer Service
Phone1-866-234-8913
Mailing Address
Optum Bank, P.O. Box 271629, Salt Lake City, UT 84127-1629
UHC HSA Members
MyCDH HSA Members
FSA / HRA / Dependent Care
Medicare Advantage MSA
Commuter Benefits
Retiree Reimbursement (RRA)
Employer Support
Providers / Health Plans
COBRA / HealthSafe ID
WebsiteLearn more→
Death Claims / Beneficiary Distributions
Phone1-866-234-8913
Mailing Address
Optum Bank, P.O. Box 271629, Salt Lake City, UT 84127-1629
Verified Apr 2026
Estate planning articles
Learn how to protect your Optum Bank accounts and other assets with trusts, beneficiary designations, and estate planning documents.
