United Health One HSA -Health Savings Account

Opening a health savings account is as easy as opening a regular savings account, and the monthly deposits ($25 minimum) make it a truly affordable health insurance option. Funds are administered by Optum Health Bank (OptumHealthBank.com), a leading HSA administrator and member of FDIC.

Once enrolled, if you elect Optum as your bank of choice, you will be issued a HSA card that functions like a debit card, and is accepted at any doctor's office or pharmacy that accepts MasterCard debit cards. Your card can also be used at any ATM displaying the MasterCard debit card logo for a fee of $1.50 (participating ATM banks might also charge an additional fee).

Optum Bank has a 24/7 interactive web site and phone line, allowing easy access for managing your account from anywhere in the world. This is really convenient if you have a job that involves frequent travel. Particularly attractive is the flexibility of choice in service providers that this HSA offers.

The plan also allows lump sum contributions in addition to your monthly deposit, so that you can build a balance in your account quickly as a hedge against emergencies in the early days of coverage. You can also purchase a hospital indemnity rider for a reasonable premium ($40 for singles and $150 for families) that will pay for hospital stays beginning the third day after the plan goes into effect.

If you are willing to bear some of the cost of office visits and can afford a higher deductible, the balance in your HSA will grow faster and be available for future emergencies.

If you are a healthy single person, or a young family with limited health problems, this Health Savings Account is an affordable, flexible way to ensure you have the health coverage you need, when you need it.