Account Holder impact and experience

In transitioning to WealthCare Saver, will account holders be required to undergo new customer identification process (CIP)?

No, account holders are not required to undergo a new CIP process if they are an existing Avidia HSA account holder on your Alegeus platform.

 

Will account holders require new WealthCare Portal or WealthCare Mobile applications, URLs, or credentials?

No, account holders will not require new mobile app downloads, WealthCare Portal URLs, or login credentials. The online and digital experiences do not change.

 

Will account holders require new debit cards?

No, account holders will not require new debit cards.

 

Do account numbers change?

Yes, account holders will get new WealthCare Saver routing and account numbers.

 

Do account holder interest rates change?

Yes, interest rates will change based on rates dictated by WealthCare Saver. Refer to the WealthCare Saver HSA Disclosures (https://www.wealthcaresaver. com / disclosures /wcsp) for current interest rates.

 

Will account holders be able to use checkbooks from previous accounts?

No, WealthCare Saver does not offer check books. After the transition, the account holder should destroy all remaining checks. WealthCare Saver allows account holders to issue checks through the portal and have those mailed to their providers by indicating Pay Provider and including the address, account number, and other details.

 

Will beneficiaries be moved as part of the conversion process?

Yes, we will be moving beneficiaries as part of the conversion process.

 

Will the Devenir auto-invest feature be disabled prior to investment liquidation?

Yes, we will disable the auto-invest feature prior to investment liquidation.

 

Will account holders have to re-open their investment account once converted to WealthCare Saver?

Yes, all account holders who choose to invest will need to open a new investment account through WealthCare Saver once converted.

 

How will this transition impact tax-filing season?

Account holders will receive two tax forms (1099-SA and 5498-SA) for 2022: one from Avidia and one from WealthCare Saver.

 

Will statement preferences transfer over to WealthCare Saver?

No, WealthCare Saver account holders are automatically opted into electronic statements. If an account holder wants to receive a paper statement, they can opt into paper statements and agree to the paper statement fee. Existing account holder preferences with Avidia will not be transferred to WealthCare Saver.

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