How to name beneficiaries and fund a trust at Optum Bank
Covers 7 deposit accounts — beneficiaries can be managed online
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 Jul 2026
Preparing your Optum Bank accounts for estate transfer involves two primary strategies: designating beneficiaries on individual accounts and, where supported, retitling accounts into a revocable living trust. Both approaches bypass probate, but they work differently depending on the account type.
The transfer rules at Optum Bank vary across 7 accounts. Below is a breakdown of beneficiary options, trust funding, and which products support each method.
Optum Bank Health Savings Account (HSA)Medicare Advantage Medical Savings Account (MSA)Health Care Flexible Spending Account (FSA)Limited Purpose FSADependent Care Flexible Spending Account (DCFSA)Health Reimbursement Arrangement (HRA)Commuter Benefits Account
1
Navigate to beneficiary settings:
- Sign in to your Optum Bank account at optumbank.com
- Select Settings from the black drop-down menu
- Choose Beneficiaries
- Select + Add a New Beneficiary
2
Enter beneficiary information and submit:
- Provide the beneficiary's full legal name, date of birth, and Social Security number
- Designate the beneficiary as primary or contingent and assign allocation percentages
- Review the information and select Submit
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- If no beneficiary is designated, HSA funds default to your legal surviving spouse, then to your estate
- A trust, charity, or organization can be named as an HSA beneficiary
- If a spouse is named as beneficiary, the HSA transfers to the spouse as their own HSA (tax-free)
- If a non-spouse is named as beneficiary, the fair market value is taxable income to the beneficiary in the year of death (IRC 223(f)(8)(B))
- If the estate is the beneficiary, the fair market value is included on the decedent's final tax return
- Missing or incorrect information can delay processing or prevent timely distribution
- Beneficiary designations on the HSA override any conflicting instructions in a will
- Primary beneficiary allocations must total 100%; contingent beneficiary allocations must also total 100%
Sources
Data sourced from Optum Bank primary sources (11 pages reviewed). How we research.
Download these Optum Bank instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Optum Bank primary sources. Bring it to the branch or keep it beside the phone.
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 Jul 2026
Estate planning articles
Learn how to protect your Optum Bank accounts and other assets with trusts, beneficiary designations, and estate planning documents.
