This change only impacts select Forma members. All members impacted will be notified directly via email about account changes. If you have not been notified, then this change does not impact your account.
If you don’t have an HSA but have at least one other pre-tax benefit such as an FSA or Commuter account, here’s what to expect:
- You will receive an email from Forma on October 21, 2024 about the bank migration. We’ll ask you to verify your mailing address before October 24.
- On October 24, we’ll issue you a new pre-tax debit card with Thread Bank to replace the existing one. It takes 3-4 weeks for the card to arrive.
- You and your dependents can continue using your existing pre-tax cards up until November 24.
- There will be a short 3-day blackout period between November 25 and November 27 where you:
- Will not be able to use your Forma pre-tax card since funds will be in transit from Blue Ridge Bank to Thread Bank.
- Will experience a delay with claims reimbursement as funds transfer, though you will still be able to submit new claims during this 3-day window.
- Starting on November 28, you can activate your new debit card and use your Forma account, just as before.
If you join after October 24, you will be automatically set up on Thread Bank.