When is this going to happen?
To ensure a smooth transition of your program, several steps will be taken as follows:
| Timing | Handled by | Action |
|---|---|---|
| By 7/07/2025 | Employer | Let your HSA participants know that they will receive communications from Allegacy regarding the account movement to HSA Bank. Encourage all participants to update their contact information if needed, including their mailing address, phone number, and email address. They can update this information via Allegacy’s online banking site and should do so by July 30, 2025. |
| No later than 7/30/2025 | Employer | Please ensure that your participant census information is updated in the HSA Employer Portal, including termination dates for anyone no longer participating in the program and updates due to health plan coverage changes (Individual or Family). This information will be shared with HSA Bank to assist in the smooth transition of your program. |
| By late July | HSA Bank | The HSA Bank Implementation team will reach out to schedule your implementation meeting to establish your HSA Bank program. During implementation, you will be given access to HSA Bank’s employer portal, where you will accept the terms & conditions of the program and will learn how to use its features to support your program needs |
| 7/30/2025 | Employer | For any new enrollments needed for August 15, 2025, add participants to the portal no later than July 30, 2025. No new enrollment should be added in the current portal after this date. New participants eligible 9/1/2025 should be entered into the HSA Bank employer portal and can be coordinated with your implementation contact. |
| 8/15/2025 | Employer | Final HSA contributions to be processed through the current Employer portal must be completed by August 15, 2025. If you currently load contribution files to the portal, this is the last day on which files can be loaded. This allows for normal processing and corrections if needed prior to the program transition. |
| By 8/28/2025 | Employer | For employers who process contributions through the HSA portal, we recommend pulling a copy of the YTD Contribution Report for your records to capture funds deposited to employee accounts prior to your transition date. |
| 8/29/2025 | HSA Bank and Allegacy | On your program transition date of August 29, 2025, all funds transferred from Allegacy will be deposited into the new HSA Bank accounts for your employees. At that time, the current Employer portal will no longer be available for your team’s use. |
| After HSA Bank implementation | Employer | Contribution deposits begin to process into new HSA Bank accounts for your employees, utilizing the funding method established during your program implementation with the HSA Bank team. Your implementation contact will work with you to ensure that this first contribution deposit processes successfully. |