Following the transition, WealthCare Saver becomes the non-bank trustee and PNC remains the depository. This site requires javascript to display properly. Copyright 2023 WealthCare. 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. All rights reserved. Privacy Policy - WealthCare Please contact your Administrator for questions regarding access to this site or for questions about balances and statements. With the WealthCare investment platform, you only need an HSA cash account balance of $500 to start investing. Alegeus is uniquely positioned to drive your future success Our innovative solutions deliver tangible value for you, your customers and members - delivering flexibility to design and deploy a truly differentiated product experiences that will delight your customers and achieve your business goals. News about Employer and Consumer Business. When will a current employee see their new HSA online? Please enable javascript to improve your viewing experience. https://wealthcare.wealthcareportal.com/Page/PrivacyPolicy. 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. The Chief Counsel memo reiterates that FSA administrators must have a system in place to substantiate expenses and must deny reimbursement for any expenses that are not properly documented. Yes, approximately 30 days prior to March 13, 2021, Alegeus will send a notification by mail to accountholders who have an account custodied by PNC Bank as of approximately January 15, 2021 notifying them of the change in custodian. IRS Chief Counsel issues memo reiterating FSA substantiation This is an important period of time used to transfer over balances and audit to ensure accuracy. Were announcing an update regarding the custodian of your employees HSAs. No, accountholders debit cards will not change. Docs | Best Practices - Alegeus Developer Portal The region is dominated by the Jura Mountains, and much of . Adjudication APIs 626 0 obj <>stream CAPTRUST acts as investment advisor with respect to the investments available in your HSA. WealthCare Saver | We Know HSAs WealthCare - Apps on Google Play Please explore each tab on the site to get detailed information about the transition and the WealthCare HSA Saver product. The account is not subject to a funds inaccessibility window or spendingfreeze as a result of the custodial transition. Contact Information 1601 Trapelo Rd Lbby 2 Waltham, MA 02451-7357 Get Directions Visit Website (800) 369-9794 This business has 0 reviews Customer Complaints 14 complaints closed in last 3 years 8. There will be no impact on day-to-day account usage: Summary: The transition simply entails a legal change in the custodial entity and the employee notifications required by existing custodial agreements. Read about trends and forces shaping the benefits landscape. Copyright 2023 WealthCare. Check out our latest resources and actionable insights. Investments - WealthCare 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. Alegeus WealthCare Admin Yes, the new WealthCare Save HSA will be linked to their existing debit card for use once opened and funds have been deposited. Let us help Password * Forgot your Password? All Rights Reserved. This conversion period is scheduled to occur October 31, While account holders will be getting a new account number associated with their HSA, they will be able to access their Wealthcare Saver HSA using their same debit card. We are excited to welcome Melanie to Alegeus. As noted by the ECFC, this may also be an indication that plans will be more closely scrutinized during audits. With more than 25 years of growth and innovation, Alegeus is the market leader in SaaS-based healthcare payment solutions. 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. With WealthCare, access your latest account information at your fingertips. Investing your HSA funds may be a great option for you. *In Canada, trademark(s) of the International Association of Better Business Bureaus, used under License. What do you think? 2023, International Association of Better Business Bureaus, Inc., separately incorporated Better Business Bureau organizations in the US, Canada and Mexico and BBB Institute for Marketplace Trust, Inc. All rights reserved. Effective March13, 2021, WealthCare Saver will assume custodial responsibilities for all Health Savings Accounts (HSAs) offered through Independence. We are always on the lookout for passionate and talented professionals that are seeking an adventure, not just a job. Published on May 1st, 2023. Alegeus WealthCare Admin. In addition, you may choose to have CAPTRUST manage your HSA account on a discretionary basis. A custodian: Is responsible for protecting the employee, managing the account, communications, account opening process, funds movement, regulations & compliance, and more. Why? 1601 Trapelo Road | Main Building, Suite 301. Your HSA is a powerful investment vehicle and can help you better prepare for your future. All rights reserved. We deliver exceptional user experiences and differentiated capabilities that help our partners strengthen their product offerings, operate more efficiently, and unlock their full growth potential. This site requires javascript to display properly. SOC 2 Type 2, GDPR, CCPA compliant. 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. Yes, the balance in the deposit account will continue to be insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum amount permitted under FDIC guidelines. However, Accountholders are encouraged to review the new terms and conditions governing their account including the new accountholder agreement at www.wealthcaresaver.com/disclosures/wcsp. Overview. WealthCare empowers people to make the most from their healthcare dollars through the industrys first SMART HSA, a guided platform that maximizes their savings and minimizes their spend. Their account history will remain intact leading up to and following the transition. We currently offer two products: Administrative APIs and Participant APIs. Registered in all 50 U.S. states. WealthCare Savers Investment Solutions Flyer, WealthCare Savers Investment Solutions FAQ, Avidia Legal Account Holder Notifications, Scheduled Health Reimbursement Arrangement (HRA), https://www.wealthcaresaver.com/docs/WealthCare_Saver_HSA_Investment_Options.pdf. 32, Avenue de l'Observatoire, BESANCON, 25000, France. Our highly flexible, white-label platform powers account-based benefit programs such as HSAs, FSAs, HRAs, COBRA, wellness incentives, lifestyle benefits and beyond. With our white-label model, accounts and cards can become an extension of your brand and member experience, serving up frictionless and intuitive financial solutions designed to satisfy the expectations of modern consumers. No, the investment threshold will not change on 3/13/21. Attorney and policy expert Jason Lacey shares strategies for benefits professionals to remain compliant while helping employers support their impacted employees. neither WealthCare Saver*, nor its affiliates, shall be held liable for any adverse consequences that may result. 0 Join us in Denver from May 7-9 for the Alegeus Partner Success Summit, our annual learning and empowerment forum! Built by a deeply knowledgeable HSA and investment product team and powered by an API-driven, cloud-based brokerage platform the investment solution features auto-rebalancing, on-demand investment statements, historical performance of available funds, and an impressive investment stack: The WealthCare Saver HSA experience lives within a single platform for a seamless user experience. In order to ensure our members are aware that WealthCare Saver will be administering their Independence HSA plans, members will be notified via mail at least 30days prior to the March13 effective date, as required. BBB Business Profiles are subject to change at any time. Avidia Bank, the current custodian of your Health Savings Accounts (HSAs) with Navia, is reducing the HSA portion of its business. 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. We will be updating the impacted Health Spending Account member documents and forms and marketing materials on the member portal, the Marketplace, Broker Forms Online, Sales Portal and Employer Portal to reflect the WealthCare Saver name change by March13. Alegeus Technologies, LLC Company Profile - Dun & Bradstreet The WealthCare Saver HSA experience guides consumers to make better healthcare decisions. Backed by Pacific Life, the new option allows HSA account holders to take advantage of some of the highest interest rates in the market. Customers and members do not need to take any action and there is no impact to members enrolled in a 2021HSA plan or how they interact with their benefit or access their health savingsaccount: WealthCare Saver is a d/b/a of Alegeus Technologies, LLC, an Internal Revenue Service (IRS) authorized, nonbank, passive trustee operating as the custodian of HSAs. No funds movement or transfer to facilitate the transition. By leveraging our best-in-class technology and their industry-leading service and solutions, Alegeus clients are realizing the highest customer satisfaction (NPS) scores in the industry nearly +50 points higher than our closest competitors. Settle in Bourgogne Franche Comt - Welcome to France Helping clients win in a rapidly changing marketplace with the industrys largest and most comprehensive consumer healthcare funding platform. Alegeus Technologies is a leader in the consumer-directed account industry, supporting more than 30 million consumer and 225,000 employer health benefit accounts. We love helping people save money on healthcare expenses and work behind the scenes powering health benefit accounts for over 300 administrators to support millions of consumers in getting the most from their healthcare dollars. As previously stated, this is a legal change to the HSA custodian. Thank you for using WealthCare Administration System. Need to find a different location? Capture the HSA opportunity Create an additional revenue stream No bank transfers, investment liquidations, spending freezes, or opt-in actions. She did not inform me that when I had my account closed and moved to Fidelity, which was finalized on April 10th, I would be charged an additional $25 for absolutely no reason. You may close this window or login again. 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. Today, PNC serves as both the HSA custodian and depository. World University Rankings 2023. Want your HSA money to make you money? Alegeus provides software and services to support the administration of health-related consumer-directed accounts, such as health savings accounts and flexible spending accounts. WealthCare Saver is a dba of Alegeus Technologies, LLC, an Internal Revenue Service (IRS) authorized, non-bank passive trustee operating as the custodian of health savings accounts. Our client partnerships extend beyond the technology, as we lean in with you to drive adoption and usage ensuring your programs success, now and into the future. We are always on the lookout for passionate and talented professionals that are seeking an adventure, not just a job. 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). WealthCare Saver is Anthem's New HSA Custodian Customer Reviews are not used in the calculation of BBB Rating. I acknowledge that I have read and understood the terms and conditions applicable to a distribution, as set forth . 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. When will funds be available after the transition? Nothing about the day-to-day operation, employee account usage, or teams supporting the HSAs change. As a matter of policy, BBB does not endorse any product, service or business. Alegeus has led the consumer funding technology industry for more than 20 years, providing support to health plans and TPAs, and delivering a white-label HSA solution that will help you earn new revenue, achieve speed to market, manage operational costs and more. Developed by Alegeus, the WealthCare SMART App provides a single access point for members to manage their HSAs and other tax-favored benefit accounts. Who we help | Alegeus Self-Service Portal Sign In Self-Service Login Please enter your User ID & Password below to access your secure account. No changes to how you manage your HSA program.
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