Glossary
Glossary - O
Open Date
In regard to Health Savings Accounts (HSAs), the original date the HSA opened at the custodian.
Open Enrollment Period
An 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 Expense
The dollar portion of healthcare expenses that is covered by an individual and not through their insurance plan.
Out-of-Pocket Maximum
The maximum dollar amount individuals have to pay for healthcare services covered under their insurance plan per calendar year.
Over-the-Counter (OTC) Drug
A medicine that does not require a prescription to purchase.
Invest in your HSA with UMB HSA Saver
Now you can invest your HSA savings in UMB HSA Saver and take advantage of our easy-to-use investing platform.
