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.
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.

HSA FAQ Resource
Find answers to your most common HSA questions in our comprehensive HSA FAQs section