We look forward to partnering together to build your employees’ health savings.
| Feb 20, 2024 | Last day to enroll new HSAs with BenefitWallet. |
| Week of Feb 26, 2024 |
Begin directing all new enrollments to HealthEquity.
Contributions can begin on the HealthEquity HSA platform. Consider contributing to your employees’ HealthEquity HSAs prior to the HSA blackout date if they require access to funds during the HSA blackout period. |
| Feb 28, 2024 | Bank of New York Mellon and BenefitWallet custodial resignation letter mailed to existing HSA account holders. |
| Mar 4, 2024 | Last day for members to start an investment account on the BenefitWallet HSA platform. |
| Mar 13, 2024 | Investor letter mailed with details about in-kind transfer, any anticipated liquidation of mutual funds, including Fidelity® Money Market Government Portfolio (FRGXX), and HealthEquity's investment platforms and terms.1. |
| Week of Mar 18, 2024 |
HealthEquity® Welcome Kits and Visa® Health Account Cards2 begin arriving via First Class USPS mail, allowing members to access the HealthEquity Member Portal. |
| Mar 28, 2024 2:00 pm ET |
Investment blackout period begins.
Changes to investments will be paused until April 12, 2024, when the transition to HealthEquity is complete. Last date and time to change or liquidate investments in BenefitWallet HSA investment accounts, and last day that BenefitWallet automated investments (i.e. sweep) or scheduled investments will be processed. Any investments remaining in an investor’s BenefitWallet HSA will be subject to market conditions, including the risk of loss in their existing account value. |
| April 2, 2024 4:00 pm ET |
HSA blackout period begins.
Last date and time for account holders to initiate transactions against their BenefitWallet HSA (except for debit cards). After this date, members will be unable to access their BenefitWallet HSA using the website or mobile app to initiate transactions of any type. Account holders should stop presenting checks drawn against their BenefitWallet HSA. Members will be unable to access their BenefitWallet HSA funds until April 12, 2024, following the transfer to HealthEquity. Members should carefully consider how the blackout period may affect their financial plans. |
| April 4, 2024 8:00 pm ET |
Last day for members to use BenefitWallet HSA debit cards.
If your BenefitWallet HSA investment account holds the Fidelity® Money Market Government Portfolio (FRGXX) or any other mutual funds not transferred in-kind, these holdings will be liquidated and proceeds will be moved to your cash account balance for the transfer. |
| April 9, 2024 | BenefitWallet HSAs are closed for transfer.
All prior transactions (e.g., checks) and any new transactions (e.g., ACH, EFT, Direct Deposit contributions or distributions) presented on members’ accounts will be rejected and returned. Members will be responsible for any fees or penalties incurred as a result of transactions being rejected and returned on their accounts. |
| April 11, 2024 | Account balances and in-kind investments are transferred to the HealthEquity HSA platform. |
| April 12, 2024 | HSA and investment blackout periods end.
HSA cash (including proceeds from liquidating holdings) and investments will be available at HealthEquity. Members can invest in the mutual funds available on the HealthEquity platform. Investors must take action if they wish to change their cash allocation options or investment holdings, or if they would like to reestablish recurring transactions or pre-scheduled investments on the HealthEquity platform. |
Contact HealthEquity Client Services for support:
877.750.0190 (M-F, 8am – 8pm ET)
Transitional Communications
Attend a Free Webinar
Join us for a webinar. We will walk you through transition details, and provide information about managing enrollment and contributions using the HealthEquity Client Portal.
If none of the webinar times work for you, you can view a prerecorded webinar and review the presentation deck.
Tools for Managing Your Employees’ Accounts:
Marketing Collateral
Experience our world-class customer support for yourself. Contact us:
HealthEquity Client Services:
877.750.0190 (M-F, 8am – 8pm ET)
1 Investments made available to HSA holders are subject to risk, including the possible loss of the principal invested, and are not FDIC or NCUA insured, or guaranteed by HealthEquity, Inc. Investing through the HealthEquity investment platform is subject to the terms and conditions of the Health Savings Account Custodial Agreement and any applicable investment supplement. You should carefully consider the investment objectives, risks, charges and expenses of any mutual fund before investing. A prospectus and, if available, a summary prospectus containing this and other important information can be obtained by visiting the Vanguard website at vanguard.com. Please read the prospectus carefully before investing. Consult your advisor or the IRS with any questions regarding investments or on filing your tax return.
2 This card is issued by The Bancorp Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. Your card can be used everywhere Visa debit cards are accepted for qualified expenses. This card cannot be used at ATMs and you cannot get cash back, and cannot be used at gas stations, restaurants, or other establishments not health related. See Cardholder Agreement for complete usage restrictions.
HealthEquity does not provide legal, tax or financial advice.
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