2023 HSA Transfer

Your 2024 HSA is moving to Optum Financial.

As part of the 2024 transition of your health insurance benefits to Allegiant Care, your HSA plan will be under Optum Financial, Allegiant Care’s partner for HSA administration. Any contributions you make in 2024 will automatically be deposited into a new Optum Financial account. Any balance you have at year-end in your current account through Benefit Wallet will remain with Benefit Wallet unless you transfer your balance.

Follow the steps below to transfer your remaining 2023 balance under Benefit Wallet to your new 2024 account under Allegiant Care and Optum Financial. 

Why should I transfer my funds?

• All your HSA money will be in one account, saving time and recordkeeping tasks.
• In transferring your 2023 funds, you will avoid paying a $3.50 monthly to maintain your Benefit Wallet HSA Account.
• Transferring is easy! Complete the HSA Transfer of Assets Authorization form to have your 2023 HSA funds transferred to your new Optum Financial account.
• CLICK HERE to go directly to the HSA Transfer of Assets Authorization Form or you can scan the QR code above using your mobile device.

Important Dates:

• 11/17/2023: Deadline to complete the transfer form
• 12/29/2023: New Optum Financial HSA cards arrive
• 1/1/2024: 2024 HSA contributions are routed to Optum Financial
• 1/23/2024: Last day to access 2023 HSA through Benefit Wallet
• 1/23/2024 – 2/8/2024: 2023 funds are frozen during transfer from Benefit Wallet to Optum Financial HSA. Note: Any investments you have with Benefit Wallet will be liquidated (tax-free) and transferred as part of your HSA balance
  • If you need to access your 2023 HSA balance for health care expenses while the funds are frozen, you may:  
    • Pay your bill with your new HSA.
    • Ask your provider if you can pay your bill at a later date.
    • Pay out-of-pocket and request reimbursement once funds are transferred
• 2/9/2024: Transfer Complete. Your Benefit Wallet account will be closed. Any transferred funds will be available in your new Optum Financial account and on your HSA payment card.

What if I don’t complete the transfer form by the deadline?

• If you transfer your 2023 balance after 11/17/2023, you will incur a $25 transfer fee from Benefit Wallet.
• If your balance with Benefit Wallet falls below $1,000, you will be charged a $3.50 administration fee, which will be deducted from your account each month beginning January 1, 2024.