As long as you’re enrolled in an HSA in the 2023 plan year, you can transfer it yourself and keep using Forma to manage your HSA — even if you weren’t able to be a part of the automatic transfer.
Whether you missed the deadline to opt-in or your employer didn’t offer the automatic transfer, it’s easy to transfer your HSA from another custodian to Forma.
What information do I need?
If you do an individual transfer, you’ll contact both your previous custodian and Forma yourself. If your HSA was managed by Forma in the 2021/2022 plan year, your previous custodian is WealthCare Saver:
Current custodian: WealthCare Saver
Custodian daytime phone: 1-866-287-5675
Custodian fax: 1-866-287-2022
You’ll fill out an account transfer form and have to pay a closure fee. The fee is set by the custodian, WealthCare Saver charges $25.
How should I fill out the transfer form?
Account number: Your Forma HSA account number (see below)
Last name/First name/Middle initial: Your full, legal name
Employer name: Your employer's name as it appears in your W2
Social Security number: Your SSN
Email address: Your email address
Telephone number: Your telephone number
Street address/City/State/Zip code: Your mailing address (not your employer or custodian's business address)
Account number: Your HSA account number with your current custodian
Bank name: The name of your bank that's associated with your HSA
Telephone number: Your current custodian's telephone number
Street address/City/State/Zip code: Your current custodian's business address
Where do I get my account and routing numbers?
The last piece of information you'll need when you contact your previous custodian is your new Forma HSA's account and routing numbers. Go to your HSA details page and select the "View account/routing number" link below your account details.
Important: If you have money invested through your HSA
If you have HSA money invested before you transfer your HSA, you need to:
Liquidate your investments and return the money to cash
Turn off auto-investments
There might also be statements and forms that need to be delivered during the blackout period and after the transfer is completed, change your delivery method to “Paper” or “Electronic & paper.”
If your current custodian is WealthCare Saver, sell your invested balance by logging in to your WealthCare portal.
As always, if you have any questions you can reach out to the Forma Support team via live chat or by email at email@example.com.