We are excited for the opportunity to serve you and continue building your health savings. If you have a Health Savings Account (HSA), information is provided below to guide you through the transition. If you have a Medical Savings Account (MSA), click here for information regarding the MSA transition.
| Mar 27, 2024 | BenefitWallet and Bank of New York Mellon custodial resignation letter mailed to existing HSA account holders. |
| Apr 1, 2024 | Last day to start an investment account with your HSA on the BenefitWallet platform. |
| Apr 10, 2024 | Investor letter mailed to account holders with a BenefitWallet HSA investment account containing 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 Apr 15, 2024 |
HealthEquity® Welcome Kits and Visa® Health Account Cards2 begin arriving via First Class USPS mail, allowing you to access the HealthEquity Member Portal.
Contributions can begin on the HealthEquity HSA platform. Consider contributing to your HealthEquity HSA prior to the HSA blackout date if you need access to funds during the HSA blackout period. |
| Apr 26, 2024 2:00 pm ET |
Investment blackout period begins.
If you have a BenefitWallet HSA investment account, this is the start of the investment blackout period. After this date, changes to investments will be paused until May 10, 2024, when the transition to HealthEquity is complete. Last date and time to change or liquidate investments in your BenefitWallet HSA investment account and the last day that BenefitWallet automated investments (i.e., sweep) or scheduled investments will be processed. Any investments remaining in your BenefitWallet HSA investment account will be subject to market conditions, including the risk of loss in your existing account value. |
| Apr 30, 2024 4:00 pm ET |
HSA blackout period begins.
Final date and time to access your BenefitWallet HSA using the website or mobile app to initiate transactions of any type (e.g., contributions or distributions, other updates), except for debit cards. You will still be able to view your balance, recent transaction activity, and historical statements. You should stop presenting checks drawn against your BenefitWallet HSA. You will be unable to access your BenefitWallet HSA funds (except using your debit card as noted below) until May 10, 2024, following the transfer to HealthEquity. Carefully consider how the blackout period may affect your financial plans. |
| May 2, 2024 | If you have a BenefitWallet HSA investment account that 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. |
| May 2, 2024 8:00 pm ET |
Last date and time to use your BenefitWallet HSA debit card. |
| May 7, 2024 | Your BenefitWallet HSA is closed for transfer.
All prior transactions (e.g., checks) and any new transactions (e.g., ACH, EFT, Direct Deposit contributions or distributions) presented on your account will be rejected and returned. You will be responsible for any fees or penalties incurred as a result of any transactions being rejected and returned on your account. |
| May 9, 2024 | Account balances are transferred to the HealthEquity HSA platform.
For members with investments, your in-kind investment holdings are transferred to the HealthEquity HSA platform. |
| May 10, 2024 | HSA and investment blackout periods end.
Your funds will be available at HealthEquity, including any investment funds. Starting on this date, you will be able to invest in the mutual funds that are available on HealthEquity’s platform. You will need to take action on or after this date if you want to change your cash allocation option or investment holdings. You will need to reestablish any recurring transactions and pre-scheduled investments on the HealthEquity platform. |
Contact the HealthEquity Member Services team for support.
We’re here for you 24/7.
877.750.0934
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Contact the HealthEquity Member Services team for support.
We’re here for you 24/7.
HealthEquity Member Services:
877.750.0934
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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