OCA Launches HSA High-Yield Interest Option

March 22, 2023 | HSA

New High-Yield Interest Option for HSA Participants

We are excited to launch a new High-Yield interest option that enables your employees to optimize the value of their OCA HSA. With this new option, account holders can take advantage of higher interest rates by choosing to have their HSA cash balance held in a High-Yield deposit account, backed by Pacific Life Insurance Company.

The OCA HSA account is a powerful tool to help your employees save money on healthcare expenses, and whether they’re a spender, saver, or investor*, they can now choose to get even more value from their HSA contributions.

How does it work?

Beginning May 15, 2023, employees with an HSA can choose the interest option that works best for them: Traditional or High-Yield.

Employees can update their preference directly within the mobile app or participant portal. Interest rates for both options are subject to change and can be viewed here: HSA Interest Rate Disclosure

Do Employers have to take any action?

No. We will proactively communicate this new feature to current HSA account holders the week of April 15, 2023. 

Is there any impact to the employee experience?

Existing employees with HSAs will remain in the same Traditional interest option they are currently enrolled in unless they change their preference within OCA’s mobile app or participant portal to the High-Yield interest option. Employees that enroll in an HSA after May 15th, 2023, will default to the High-Yield interest option but can change their preference at any time.

For all employees, there will be no impact to their account experience, regardless of which interest option they choose. Those enrolled in the High-Yield option will simply earn higher interest rates.

Have questions or want to learn more? We want to ensure you are aware of this new feature launch and encourage you to review our detailed FAQs listed below!

Set Up Your High-Yield

Beginning May 15, 2023, employees with an HSA can choose the interest option that works best for them: Traditional or High-Yield. Employees can update their preference directly within the mobile app or participant portal.

High-Yield FAQs

What is the High-Yield interest option?

The High-Yield interest option enables you to earn higher interest on your HSA by having your cash balance held in a deposit account that is backed by a highly rated insurance company, Pacific Life Insurance Company (“Pacific Life”).

Why is this option offered?

The OCA HSA is a lifetime savings vehicle that delivers value for everyone, regardless of whether you’re a spender, saver, or investor. We often talk about investments as a mechanism to maximize the long-term value of your HSA, but this new High-Yield interest option is a great way to take advantage of enhanced interest rates and maximize the savings potential of your HSA cash balance too.

What are the main differences between the new High-Yield interest option and the Traditional interest option?

Your interest earning potential: The High-Yield interest options offers you the potential to earn a
much higher interest rate on your cash balance.

Where your HSA balance is held: With the High-Yield interest option, instead of being held by a bank, your HSA cash account funds are held in a deposit account that is backed by a highly rated insurance company, Pacific Life.

In the Traditional option, your deposits are insured by the FDIC for up to $250k.

In the High-Yield option, your deposits are not insured by the FDIC.

With High-Yield, how is my money kept safe?

Insurance companies, including Pacific Life, are highly regulated by each state to ensure they can cover all their obligations to account holders. The risk of having an account at any depository institution (whether it’s an HSA or a standard bank account) is that the company responsible for holding the money is unable to cover its obligation to account holders. No assurance can be given that Pacific Life will not encounter financial difficulties that make it unable to honor its obligations to its policyholders.

Who is Pacific Life, and how can I learn more about them?

Pacific Life is an insurance company who provides a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals and businesses. They are highly trusted for their ability to deliver strong and stable products, with more than half of the 100 largest U.S. companies as their clients. They have exceptional company ratings from all major rating agencies and manage over $209B in assets.

Overall information about Pacific Life can be found at: https://www.pacificlife.com/content/plcorp/home/about.html

Deeper information on Pacific Life’s financial performance and ratings can be found at: https://

Is the Traditional interest option being eliminated?

No. We want to provide you with options to maximize the value of your account, but we ultimately want you to decide what choice is best for you.

When will the new High-Yield interest option be available?

Effective May 15, 2023, you will have the opportunity to decide the interest option that works best for you: Traditional or High-Yield.

How can I update my interest option preferences?

To update your preference, simply log onto the OCA mobile app or participant portal, go to your HSA account summary, and click on ‘interest options’ to make your selection (or change it at any time).

Will my account number or debit card change if I change my interest option?

No. Choosing a different interest option does not open a new HSA account or change your account experience. You keep the same account number and debit card, and continue to access your account via the same portal and mobile app.

Is there a limit to the number of times I can change my preference?

No. You can update your interest option preference as often as you would like. When your preference is updated, the interest rates associated with your new selection will take effect immediately.

Are there any fees associated with each of the interest options?

The interest option you choose has no impact on account fees. There are no additional fees associated with either of the interest options.

How do I view the terms and conditions governing my HSA High-Yield interest option?

To view the terms and conditions governing your HSA go to https://www.wealthcaresaver.com/disclosures/