Important Dates and Information Regarding HSA Transfers to HealthEquity

Important Dates and Information Regarding HSA Transfers to HealthEquity

Effective November 30, 2015, Health Savings Accounts (HSAs) previously held by The Bancorp Bank will be moving to HealthEquity. Welcome kits are being mailed to HSA members, and will include a new HealthEquity debit card, along with a Cardholder Informational Handout.

Important Dates For This Transition

Dec 1, 2015 
  • Final day to use Funds Transfer and Bill Pay from The Bancorp Bank
Dec 4, 2015
  • Final day to use The Bancorp Bank card
  • Final day to write checks from your HSA with The Bancorp Bank
Dec 5-6, 2015
  • Account balances will be automatically transferred from The Bancorp Bank to HealthEquity
  • The Bancorp Bank card will be deactivated
  • Balances no longer visible at The Bancorp Bank
Dec 7, 2015
  • The Bancorp Bank funds become available at HealthEquity
  • You can start using your HealthEquity debit card
Mar 31, 2016
  • Online access to The Bancorp Bank accounts disabled

Please note the following:

  • Through the online HealthEquity member portal, you will now have the options for HealthEquity to pay the provider directly (free online bill pay), request reimbursement ($2.00/reimbursement check; free for direct deposit reimbursement), or you may use your HealthEquity debit card to pay the provider. You will no longer receive checks drawn on your HSA to pay providers.
  • A monthly administration fee of $2.50 will be waived if the balance in the account is $1,500 or more on the first day of the month.
  • There is a paper statement fee if you do not elect electronic statements (go online to elect).
  • Cards for additional signers on the account can be ordered by calling (866) 346-5800. The first three cards are free of charge.
  • HealthEquity will offer investment options if your HSA balance exceeds $2,000.
  • Mobile App available with HealthEquity for Apple and Android devices.
  • CDSA will take care of getting all of the new routing and account numbers for participants.

For additional information please visit the following link: http://healthequity.com/hsamemberguide

Feel free to reach out to your CDSA Administrator if you have specific questions regarding this transition.