Step 1: How to opt-in to the bulk transfer process

💡 Deadline: Feb 10th, 2023

Transferring the HSA over to the new Forma HSA is simple. You will see a banner on your Forma Member Portal starting Jan 30, 2023, and all you need to do is to give us an e-consent.

  1. Log into your Forma Account. You will see a message to ask you to opt-into the automatic transfer. Clicking on the link will launch a new page.

  2. Or, select HSA under the Benefits tab. You will see your existing HSAs marked as old HSA. If you are enrolled in 2023 plan year, you will see a second HSA marked as new HSA. Under the old HSA, you will see a message to ask you to transfer the money to the new HSA. Clicking on the link will launch a new page.

3. Locate the First, accept the terms of the transfer button. Please choose I accept to give Forma consent to transfer your existing HSA and you're done!

Important Notes

  1. Your WCS HSA will be moved into Forma the week of March 13, 2023. During the blackout period from March 2nd to March 12th, 2023, you will not have access to the funds in your WCS HSA.

  2. Once the transfer is completed, the remaining balance in your WCS HSA will be transferred to your new Forma HSA and will be available to you through the Forma Member Portal. At this time, you will be able to complete online and mobile payments and use your new Forma VISA® Debit Card to access your HSA funds.

  3. In the meantime, you will have full access to your new Forma HSA starting January 1st, 2023. As your payroll contributions in 2023 will be directed to your new Forma HSA, you will be able to access the funds from these contributions once the contribution is completed.

  4. Before March 2nd, 2023, you may continue to use your existing Twic Benefits Card to access funds on your WCS HSA.

Step 2-A: How to liquidate investments

💡 Deadline: Feb 17th, 2023

You can liquidate your HSA investment account funds and move them into your HSA cash account by going to your old WealthCare Saver HSA through Forma Portal.

  1. Click on Health Savings Account (Old HSA) when you log into Forma Portal on the Benefits page.

2. Go to Manage My Investments. It will direct you to the WealthCare Saver portal.

3. Go to Investments > View/Trade > Proceed

4. You will be directed to a new investment website. On the new page, go to Invest > Move Money > Enter entire balance

  • You need to move your entire investment balance from your HSA investment account back to your HSA cash account in order to complete the liquidation and be qualified for the bulk transfer. Please type in the balance and click the submit button, and make sure the entire balance is transferred.

5. Investments will be liquidated, and the investment funds will be credited to your HSA cash account within 3 active trading/business days.

Step 2-B: How to turn off automatic investment transfer

💡 Deadline: Feb 17th, 2023

  1. Click on Health Savings Account (Old HSA) when you log into Forma Portal on the Benefits page.

2. Go to Manage My Investments. It will direct you to the WealthCare Saver portal.

3. Go to Edit automated Investment Transfer -> Turn off auto transfer, OR

4. Go to Investments > Move Money > Automated Investment Transfer -> Turn off auto transfer, OR

Note

Failure to turn off the automatic transfer feature will result in your HSA Balance being automatically transferred back to your investment account and will disqualify you from the bulk transfer.

Step 3-A: How to download all tax forms

💡 Deadline: March 1st, 2023

Members with an HSA through WealthCare Saver can download account statements and tax documents by logging into the WealthCare Portal and clicking Health Savings Account on the dashboard.

  1. Click on Health Savings Account (Old HSA) when you log into Forma Portal on the Benefits page.

  2. Go to Manage HSA → Pay Myself. It will direct you to the WealthCare Saver portal.

3. Go to Account Resources > Tax Forms.

4. You should see all your historic tax forms. Please download them to save on your personal drive digitally or print them out to keep physical copies.

Step 3-B: How to download all account statements

💡 Deadline: March 1st, 2023

Once you download the tax forms, please stay on the website.

  1. Go back to Account Resources > Statements

  2. Choose Year.

  3. You should see all your historic tax forms. Please download them to save on your personal drive digitally or print them out to keep physical copies.

Step 4-A: How to change the delivery method for account statements

Once you download all the forms and statements, please stay on the website.

If you have any transactions with your WCS HSA in 2023 that are not reflected in your most recent account statement, we suggest you select a paper form of account statement to be delivered.

Please note by selecting Electronic & Paper for your account statements, you will be charged $1.50 to your HSA account each time a paper statement is sent.

To change the delivery method, please follow the steps below.

  1. Back to Health Savings Account > Statements > Delivery Preferences

  2. Select your preferred method to Electronic & Paper and submit

Step 4-B: How to change the delivery method for tax forms

Please also select a paper form of tax documents to be delivered to ensure you get Tax Form 5498-SA (available in April) to report your contributions in the 2022 tax year. You may also receive a tax form in 2024 if you have any distributions or contributions toward your WCS HSA in the 2023 tax year.

By selecting Paper for your tax documents, there will be NO additional charge.

To change the delivery method for your tax forms, please follow the steps below.

  1. Back to Account Resources > Tax Forms

  2. Select your delivery method to Paper.

  3. Enter the given PDF PIN Number.

  4. Click the Submit button.

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