Glossary - O
Open DateIn regard to Health Savings Accounts (HSAs), the original date the HSA opened at the custodian.
Open Enrollment PeriodAn employer’s enrollment period when employees may enroll or re-enroll for their medical benefits without evidence of insurability or waiting periods.
Out-of-Pocket ExpenseThe dollar portion of healthcare expenses that is covered by an individual and not through their insurance plan.
Out-of-Pocket MaximumThe maximum dollar amount individuals have to pay for healthcare services covered under their insurance plan per calendar year.
Over-the-Counter (OTC) DrugA medicine that does not require a prescription to purchase.
Introducing UMB HSA Saver
UMB HSA Saver is a unique investment platform designed with ease in mind. Account holders can easily research, buy and sell funds with a couple clicks.