HPHC PPO Plus HSA

For employees who utilize WageWorks for the Health Savings Account (HSA) only, our HSA custodian will change from BNY Mellon to HealthyEquity Inc. effective May 21, 2020.

If you are contributing to the HSA via payroll, those contributions will continue as scheduled. Your account will automatically be transferred to HealthEquity Inc. on May 21, 2020. 
 
All other accounts with WageWorks will stay the same - FSA, Dependent Care Account, and the Commuter Benefit.
 
During the week of May 11, you will receive a HealthEquity welcome kit in the mail, which will include:
  • Your new Custodial Agreement,
  • The investment terms for the Money Market Fund
  • Your NEW HealthEquity Visa® Health Account Card2
  • Instructions on how to access your new HSA - there will be a NEW portal and customer service number for your HSA 

 

Important Tips
 
  • Review the letters you receive from WageWorks / BNY Mellon and HealthEquity Inc. carefully.
  • After you receive the HealthEquity Inc. Welcome kit you will need to log into your new account and begin using your new HealthEquity Visa® Health Account Card2.
  • The change to HealthEquity requires that you complete a new beneficiary designation (BNY Mellon HSA beneficiary information is not being transferred by BNY Mellon).
  • If your Account is over $1,000 and you have elected to invest your HSA dollars through BNY Mellon you will need to make new investment elections with HealthEquity. 

 

Important Dates 
 
  • Week of March 22, 2020 - You will receive a letter from BNY Mellon
  • Week of April 10, 2020 - Only Participants who have invested their money with BNY Mellon will receive a letter from HealthEquity regarding the liquidation of their investments and the new investment options through HealthEquity Inc.
  • May 8, 2020 – Last day to contribute or invest any additional dollars to BNY investments (not the cash account)  
  • Week of May 11, 2020 - You will receive your HealthEquity welcome kit in the mail
  • May 14, 2020 - Last day to use your WageWorks HSA debit card
  • May 19, 2020 – Last day to sell investments in BNY Mellon before BNY does it on May 20 
  • May 20, 2020 – BNY Mellon liquidates funds  
  • May 21, 2020 - HealthEquity becomes your new HSA custodian and funds are transferred to Health Equity
  • May 22, 2020 - Funds available to use at HealthEquity

 

Questions?

If you have questions, please contact 844.351.6849, where representatives will be available to assist you 24 hours per day, 7 days per week.

For additional information, please visit: www.healthequity.com/bnymellon2/members/

 

HPHC PPO Plus HSA

The PPO Plus HSA includes a Health Savings Account (HSA) that you can use to pay for eligible health care expenses. For 2018, the College is contributing 50% of your deductible to the HSA on your behalf ($750/individual coverage or $1,500/family coverage). You may elect to contribute as well; if you do, your contributions will be made on a pre-tax basis.

For more information about this plan, click on:

Additional Resources:

To contact Harvard Pilgrim, go to http://www.harvardpilgrim.org/wellesleycollege or call 1-888-333-HPHC. To contact WageWorks (for the Health Savings Account), go to www.WageWorks.com or call 1-877-924-3967.