We are working to minimize the impact of this transition as much as possible. Following the transition, WealthCare Saver becomes the non-bank trustee and PNC remains the depository. BBB Business Profiles are subject to change at any time. With the WealthCare platform, investing your HSA funds is as easy as 1, 2, 3! The balance in your HSA Investment Account is subject to investment risks, including fluctuations in value and the possible loss of the principal amount invested. Her proven track record of success in driving accelerated revenue growth, product and market expansion will greatly benefit our partnersthe backbone of our organization, said Leif OLeary, CEO, Alegeus. No, the online and digital experiences will not change. Accountholders may continue to use their online accounts and user credentials. hb```c``@(a?PIN k5p,QtsG1N*'"vvz\F9` ~7!H AKJAxe3051103^dd`X|.4:@33ndf,P4.@ @\f@VH-g4#m mS)`.%vN2MM;ZN And our unique partnership model empowers our clients to achieve outsized results growing their programs at a rate that is 3-4X the market, and with the highest net promoter scores (NPS) in the industry. On April 28, 2023, the Internal Revenue Service (IRS) released a Chief Counsel memorandum reiterating the substantiation requirements included in proposed IRS regulations for health flexible spending arrangements (health FSAs) and dependent care flexible spending arrangement (DCFSA).These substantiation rules are longstanding, and there were no changes to the rules in the proposed . BBB Business Profiles may not be reproduced for sales or promotional purposes. DriveWealth, LLC, a registered broker dealer and member of FINRA and SIPC. 578 0 obj <>/Filter/FlateDecode/ID[<1F87C3843737B64DAA188332D0B2F9AB>]/Index[527 100]/Info 526 0 R/Length 161/Prev 215589/Root 528 0 R/Size 627/Type/XRef/W[1 3 1]>>stream The blackout period will run from October 31st to November 4th. You may close this window or login again. With more than 25 years of growth and innovation, Alegeus helps our clients (and their customers and participants) achieve new levels of success using account-based programs. What do you think? Learn More Experienced I understand that I may consult a tax professional or legal counsel. This is an important period of time used to transfer over balances and audit to ensure accuracy. Click here to download details: https://www.wealthcaresaver.com/docs/WealthCare_Saver_HSA_Investment_Options.pdf. No spending freezes or funds inaccessibility windows during the transition. Overview. This memo serves to reinforce the importance of operating within the rules and helps you demonstrate to customers that youre not imposing undue scrutiny, but simply helping them to remain compliant. If you've forgotten your password, please contact your designated Administrator to have your account password reset. With more than two decades of channel experience in the employee benefits and consumer-directed healthcare space, Melanie most recently served as chief growth officer at Elevate, a fast-growing developer of employee benefits technology. Through the Wealthcare Saver HSA, they will have the ability to reinvest those funds on November 4, Account holders that contribute outside of payroll, or otherwise have their HSA routing and account number on file for transfer or bill pay arrangements, will need to update their information with their new routing and account number for their WealthCare Saver HSA. 1601 Trapelo Road | Main Building, Suite 301. Employees will be able to see their accounts on their Navia employee portal on September 29th. Please note the following: Your administrator must create an account for you prior to your first login. To support the WealthCare Saver transition, PNC has agreed to resign as the custodian and assign WealthCare Saver the successor custodian. Login | Alegeus Technologies Login We will maintain the confidentiality of your personal information in accordance with our privacy policy. Market leadership and scale %PDF-1.6 % I acknowledge that I have read and understood the terms and conditions applicable to a distribution, as set forth . Our highly flexible, white-label platform powers a range of account-based programs, including those listed here. Before we get any deeper, its important we define and clarify the difference in what a custodian is versus, what a depository is responsible for. When will funds be available after the transition? It also reminds administrators that the reimbursement must be provided within a reasonable period of time after the expense was incurred. This site requires javascript to display properly. Alegeus is the industry's most innovative API solution for benefit administration. News about Employer and Consumer Business. Let us help Password * Forgot your Password? *WealthCare Saver is a dba of Alegeus . Your investment accounts can be created and managed through the WealthCare portal. Please explore each tab on the site to get detailed information about the transition and the WealthCare HSA Saver product. WealthCare Saver is a leading custodian of health savings accounts (HSAs) with long-standing experience in the market. With WealthCare, access your latest account information at your fingertips. Learn how Alegeus can help you unlock the full potential of your account-based programs through our flexible solutions, continuous innovation and collaborative partnership model. They can also select investment options through the WealthCare Saver investment solution if their balance is greater than $1,000. Alegeus is PCI-DSS, SOC1 type 2 and SOC2 type 2 certified; our API requests use TLS1.2 encryption to give administrators precise control over access to data. We currently offer two products: Administrative APIs and Participant APIs. To sequence and deliver quickly, well be transitioning to a non-bank trustee model. The WealthCare Saver HSA experience guides consumers to make better healthcare decisions. This site requires javascript to display properly. 1901 Market Street | Philadelphia, PA 19103. Our partnerships with the industrys leading health plans, third-party administrators, financial services and benefit solution providers give Alegeus unparalleled reach in the market, with access to more than 100 million commercially insured Americans. No changes to how you manage your HSA program. Investing through the WealthCare Saver investment platform is subject to the terms and conditions of the Health Savings Account Custodial Agreement and any applicable investment supplement(s). Need to file a complaint? Alegeus is the market leader in SaaS-based benefit funding and payment solutions. 101 Southhall Lane Suite 400Maitland, FL 32751, Copyright 2023 Alegeus Technologies, LLC. Nothing about the day-to-day operation, employee account usage, or teams supporting the HSAs change. No, accountholders debit cards will not change. endstream endobj startxref Prior to Elevate, she served as chief growth and marketing officer at benefitexpress, which was acquired by Wex (NASDAQ: WEX), a leading global benefits company. In 2016 the Franche-Comt rgion was joined with the neighbouring rgion of Burgundy to form the new administrative entity of Bourgogne-Franche-Comt. Investment products and services are not deposits, are not FDIC-insured, are not insured by any Federal government agency, are not guaranteed, and may go down in value. Learn how Alegeus can help you unlock the full potential of your account-based programs through our flexible solutions, continuous innovation and collaborative partnership model. WealthCare Saver will become the authorized, nonbank trustee responsible for managing the funds in an HSA account on March13. Complexity, Handled With the industry's most comprehensive API solution, Alegeus simplifies administration of even the most complex plan designs. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. We use cookies to optimize site functionality and give you the best possible experience. All Rights Reserved. Copyright 2023 WealthCare. We are working to minimize the impact of this transition as much as possible. Alegeus, the market leader in healthcare payment solutions, today announced the appointment of Melanie Hallenbeck as chief growth officer. No, while the HSA Custodian is changing, the Employer and Navias responsibilities as part of the agreement will remain the same. Melanie will play an integral role in helping partners to achieve sustained growth through our unique partner-powered business model fueled by her extensive industry expertise, her intimate knowledge of our partners businesses, and her deep experience in driving go-to-market strategies for account-based benefit programs., I have long admired Alegeus, both as a client and as a market player in consumer-directed healthcare, said Hallenbeck. Adjudication APIs Powered by our scalable, customizable SaaS-based platform, Alegeus clients are growing and driving account adoption at a pace that is 3-4X the market. 32, Avenue de l'Observatoire, BESANCON, 25000, France. There are also no spending freezes associated with this transition. Through our partnerships with the industrys largest health plans, TPAs, human capital management (HCM) and financial services solution providers, Alegeus reaches more than 100 million consumers. The blackout is a period of time that employees will not be able to access their Avidia HSA Balance accounts while we are transitioning it to the WealthCare Saver HSA. Sign in Username * Forgot your Username? WealthCare Saver leverages all the current HSA functionality and features you know, but includes a fully integrated, modern investment experience. No enrollment, funding/contribution, or reporting changes. International Association of Better Business Bureaus. With more than two decades of channel experience in the employee benefits and consumer-directed healthcare space, Hallenbeck most recently served as chief growth officer at . BBB Business Profiles are provided solely to assist you in exercising your own best judgment. Once the conversion is complete on November 4th, funds will be available after end-of-day processing, typically by 7pm CT. Account holders can use their existing card for all carded accounts with Navia, including their WealthCare Saver HSA funds. As a result, your employees HSAs will be migrated to our new WealthCare Saver HSA product. Investments funds will automatically be liquidated on October 24th. WealthCare Saver, a dba of Alegeus Technologies, LLC, is a licensed Non-Bank Custodian of HSA cash accounts. As previously stated, this is a legal change to the HSA custodian. Managing your benefit account (s). They may continue using their cards leading up to and following the transition. Add Company ID: I900808825 to your ACH Bank filters for HSA funding with your bank. endstream endobj 528 0 obj <>/Metadata 47 0 R/Pages 525 0 R/StructTreeRoot 91 0 R/Type/Catalog/ViewerPreferences<>>> endobj 529 0 obj <. No, there will be no funds inaccessibility window to facilitate the custodial transition. Independence Blue Cross offers products through its subsidiaries Independence Hospital Indemnity Plan, Keystone Health Plan East and QCC Insurance Company, and with Highmark Blue Shieldindependent licensees of the Blue Cross and Blue Shield Association. CapFinancial Partners, LLC (CAPTRUST) is an investment adviser registered under the Investment Advisers Act of 1940. Employers found out of compliance could be held responsible for all back payroll taxes and associated penalties, issuance of corrected W2s which would then require all employees (past and present) to file amended tax returns, likely resulting in additional taxes and penalties. You are encouraged to deliver an employee notification email on February 4, 2021. Corporate Relations Get the big picture on a company's affiliates and who they do business with. No funds movement or transfer to facilitate the transition. HSAs are becoming commodities, as administrators cut fees and sacrifice value to attract more clients. Bonus fact: Any investment earnings you make with your HSA are tax free! Copyright 2023 WealthCare. When will a current employee see their new HSA online? I also can't see how a functioning business can claim they will follow up on inquiries, only to fail to do so repeatedly.At this point the only thing I want is the fees reversed and the original total of $83.32 transferred to my Fidelity account.
Bulimia Cheeks Celebrities,
Belfast City Hospital Consultants,
Articles A