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How does this affect my HSA participants?

Allegacy and HSA Bank will communicate directly to your employees with all the information they need to understand about the changes being made for your program. In addition to the mailings they will receive, your employees will have the opportunity to access details about the transition to HSA Bank on a special site for Allegacy members. This site URL will be provided on the member mailing from HSA Bank.

Timing Handled by Action
7/15/2025 Allegacy A letter will be sent by USPS mail to inform your participants about the assignment of the accounts to HSA Bank.
7/30/2025 Employee Your employees should ensure that their contact information is updated for their HSA account, including mailing address, phone number and email address. This will help ensure that debit cards and other communications regarding their new HSA Bank account are received. Contact information can be updated in Allegacy’s online banking site.
8/8/2025 HSA Bank An additional mailing with more details regarding the account transition, including details regarding existing HSA investment account actions required will be sent after the initial notification.
8/13/2025 HSA Bank HSA Bank Debit cards and welcome kits will be mailed to your employees on or about August 13, 2025. Employees should watch their mail
8/15/2025 Employee Contributions into the account through your company and also through personal contribution deposits will need to be completed by August 15, 2025 in order to completely process before the transition takes place. Contributions after this date may be processed into their new HSA Bank accounts as will be discussed during your program implementation.
8/15/2025 Employee The last day to request a reimbursement for out-of-pocket expenses either in the portal or via form request will be August 15, 2025. This will ensure that everything can process prior to the account transition. Once the new HSA Bank account is established and has been funded, employees can request reimbursements as needed from their new HSA Bank account.
8/15/2025 Employee Any employee accounts that have a $0 balance as of August 15, 2025, will be closed and will not be transferred to HSA Bank.
8/25/2025 Employee Current Allegacy HSA Debit Cards will no longer be available for use as of August 25, 2025, to prepare for the transition of the account. No account activity is permitted after this date. Once the transition is complete, the employee can use funds in the HSA Bank account, either by using their new debit card or by submitting a reimbursement request for out-of-pocket expenses.
Multiple dates Employee Effective July 30, 2025, no new enrollments will be permitted into the HSA Investment option. As of August 15, 2025, employees who use the Investment options in the HSA portal will no longer be able to buy into these investments.


Action will be needed by those with investments to liquidate all of their invested funds by August 15, 2025. Any funds not liquidated will then be forced liquidated on August 19, 2025, in order for the funds to be included in the transfer of the account to HSA Bank. Employees will be able to enroll in HSA Bank’s available investment programs once their new account has been established, and will receive details about this program.
8/29/2025 Employee On the transition date, funds will be deposited into the employee’s new HSA Bank account and will be available for use via the new debit card or through reimbursement requests. Employees will have access to their HSA account online and via the HSA Bank mobile app.
5/31/2026 HSA Bank After the account transition to HSA Bank, employees will continue to have access to their current Allegacy account online in a read-only instance through May 2026. Employees will receive instructions regarding how to access their prior account as the transition process moves forward.