smartCDH

smartCDH is a health benefit account solution provided by Optum Financial. It aims to assist individuals and businesses in reducing healthcare costs by offering various health benefit accounts, including Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), and Commuter and Parking Benefits. smartCDH caters to businesses of all sizes and is utilized by professionals across industries such as human resources, benefits administration, healthcare, and financial advisory.

Key Features

Save on qualified medical expenses: smartCDH offers Health Savings Accounts (HSAs) that enable individuals to save for current and future healthcare expenses. According to the vendor, HSAs allow contributions with pre-tax dollars and tax-free withdrawals for qualified medical expenses. Individuals can contribute through payroll deductions and potentially grow their funds over time.

Save on medical and dependent care expenses: Flexible Spending Accounts (FSAs) provided by smartCDH allow individuals to use pre-tax funds for eligible medical and dependent care expenses. The vendor states that contributions to FSAs are made with pre-tax dollars, reducing taxable income. The funds can be utilized throughout the plan year for eligible expenses.

Help offset costs for eligible expenses: smartCDH offers Health Reimbursement Arrangements (HRAs), which are employer-funded accounts for healthcare expenses. HRAs can be used to reimburse employees for eligible medical expenses, including doctor visits, hospital stays, and prescription medications. The vendor emphasizes that employers have the flexibility to customize HRAs to meet their employees' specific needs.

Heading into work?: Commuter and Parking Benefits provided by smartCDH allow individuals to save on commuting costs using pre-tax funds. Employees can use their smartCDH account to pay for eligible commuting expenses such as public transportation passes or parking fees, thereby reducing their taxable income.

Improve your work-life balance: smartCDH offers Lifestyle Spending Accounts to promote work-life balance. These employer-funded accounts can be used for eligible expenses like gym memberships, wellness programs, and child care, contributing to employees' overall well-being.

HSA-FSA card: Pay the smarter way: smartCDH provides an HSA-FSA card, enabling individuals to pay for qualified expenses using pre-tax dollars. The vendor states that the HSA-FSA card covers a wide range of eligible products and services, offering savings of up to 30% on purchases.

Use your health account dollars wisely: smartCDH offers various tools and calculators to help individuals make informed decisions about their healthcare expenses. The HSA calculator provides details on contributions and potential savings growth, while the FSA calculator helps optimize the use of FSA funds. Additionally, smartCDH provides resources for retirement checkups, qualified expense searches, and information on commuter benefits.

Use your HSA/FSA dollars: The Optum Store is a platform where individuals can use their HSA or FSA dollars to purchase eligible products. The vendor emphasizes that the Optum Store offers a wide range of eligible items, including over-the-counter medications, medical supplies, and health and wellness products, with potential savings of up to 30%.