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.
For members with post-tax LSA direct deposit programs only, you will continue to get direct deposits from Forma for claims reimbursements regardless of when you're added to Forma.
For pre-tax members, there are a couple of important points to keep in mind:
- The elections file determines when accounts are created for pre-tax members.
- If you are included in the elections file on or before October 23, you'll be asked to migrate and Forma will communicate with you accordingly.
- This means that if your account effective date is October 24 in the elections file, if the elections file is processed before October 24, you will still be subject to migration.
- If you are included in the elections file on or after October 24, Forma will onboard you directly to our new banking partner, Thread Bank.
- If you are included in the elections file on or before October 23, you'll be asked to migrate and Forma will communicate with you accordingly.