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Optum Financial and its subsidiary, ConnectYourCare, administer health reimbursement accounts (HRAs) for Geisinger Health Plan members. In early May, Optum Financial learned Silicon Valley Bank (SVB) was closing and Optum Financial would be required to cease all new check issuance on the SVB disbursement account by May 24. A temporary solution has been put into place to minimize the impact of HRA payments on providers.

Optum Financial check issuance has been moved from SVB to Optum Bank. Checks issued between May 23 and at least July 30 will not include an Explanation of Payment (EOP). The EOP will be mailed separately and may arrive later than the check.


What to expect on the new checks:

  • The check will be drawn on Optum Bank rather than Silicon Valley Bank.
  • The check will temporarily have a number on the memo line to identify claim details associated with the check.
  • EOP will not be included with the check for checks issued between May 23 and at least July 30.
  • A separate mailing will give EOP details referencing the number on the memo line of each check.
  • EOP mailing will start June 6 and will include a catchup for checks issued between May 23 and May 31.

Starting July 31, Optum will resume including the EOP with the check.

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