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.
- 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
- 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.
- 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/