WealthCare | Health Savings Accounts (HSA) for a healthy future The WealthCare Platform Accessible With WealthCare, access your latest account information at your fingertips. More information, including Brands Sold, Products Sold, Month in Operation, Provides Delivery, Pet Friendly and more. When will a current employee see their new HSA online? They can also select investment options through the WealthCare Saver investment solution if their balance is greater than $1,000. Employee experience: DriveWealth, LLC, a registered broker dealer and member of FINRA and SIPC. I called on March 24th, asked to have the fees reversed, and was given a reference number of ****** and told that I would be contacted in 1 to 3 business days.By April 3rd (more than 5 business days later), I had not received any contact whatsoever. WealthCare Saver is a leading custodian of health savings accounts (HSAs) with long-standing experience in the market. Corporate Relations Get the big picture on a company's affiliates and who they do business with. All rights reserved. Alegeus is the market leader in SaaS-based benefit funding and payment solutions. Alegeus, Alegeus Technologies, WealthCare, WealthCare Saver are registered trademarks of Alegeus Technologies, LLC. Our highly flexible, white-label platform powers a range of account-based programs, including those listed here. Copyright 2023 WealthCare. Data privacy and security practices may vary based on your use, region, and age. As noted by the ECFC, this may also be an indication that plans will be more closely scrutinized during audits. and will be executed in collaboration with OCA, the Administrator of your HSA. Our partnerships with the industrys leading health plans, third-party administrators, financial services and benefit solution providers give Alegeus unparalleled reach in the market, with access to more than 100 million commercially insured Americans. Independence Blue Cross offers products through its subsidiaries Independence Hospital Indemnity Plan, Keystone Health Plan East and QCC Insurance Company, and with Highmark Blue Shieldindependent licensees of the Blue Cross and Blue Shield Association. A custodian: Is responsible for protecting the employee, managing the account, communications, account opening process, funds movement, regulations & compliance, and more. I also can't see how a functioning business can claim they will follow up on inquiries, only to fail to do so repeatedly.At this point the only thing I want is the fees reversed and the original total of $83.32 transferred to my Fidelity account. Effective March13, 2021, WealthCare Saver will assume custodial responsibilities for all Health Savings Accounts (HSAs) offered through Independence. I called once again on the 10th to ask why this fee was charged without informing me and was told that it would be looked into and I'd hear back on April 12th, which has also not happened.So I am left with a mere $14.92 out of a contributed $83.32 to my HSA. WealthCare Saver is a d/b/a of Alegeus Technologies, LLC, an Internal Revenue Service (IRS) authorized, nonbank, passive trustee operating as the custodian of HSAs. Consumers will have two ways to save HSA funds. With our SMART Account functionality, discover ways to stretch your healthcare dollars in real time. In addition, you may choose to have CAPTRUST manage your HSA account on a discretionary basis. The account is not subject to a funds inaccessibility window or spendingfreeze as a result of the custodial transition. At WealthCare Savers request, PNC has agreed to resign as the custodian of your HSA and assign WealthCare Saver the successor custodian. As the leading provider of SaaS-based benefit funding and payment solutions, we focus on the specific needs of our partners whether you want to deliver standalone account offerings or embed accounts and cards into your total solution. The developer provided this information and may update it over time. I only became aware that I have been having fees applied on my account in March 2023, when I needed tax information. 527 0 obj <> endobj All Rights Reserved. With more than two decades of channel experience in the employee benefits and consumer-directed healthcare space, Melanie most recently served as chief growth officer at Elevate, a fast-growing developer of employee benefits technology. An enhanced-yield savings option coming in 2022 will drive additional interest back to the consumer. The notice will include information about the new terms and conditions governing their account including the new accountholder agreement. In this video, we explain why Alegeus is committed to amplifying our partners' voices, values and brands. Through our partnerships with the industrys largest health plans, TPAs, human capital management (HCM) and financial services solution providers, Alegeus reaches more than 100 million consumers. Most notable during this transition is the fact that account holders will experience a 5-day conversion period while their HSA funds are liquidated and transferred. Investing your HSA funds may be a great option for you. With Smart Account functionality, state-of-the-art investments and enhanced-yield savings, WealthCare Saver HSA delivers value at every stage of the consumer lifecycle spending, saving and investing. For a weekend, a week or longer, Bourgogne-Franche-Comt is a region on a human scale that brings together nature and culture and exercises the head, the taste buds and the legs. No, there will be no changes to accountholder account numbers. Our highly flexible, white-label platform powers a range of account-based programs, including those listed here. 32, Avenue de l'Observatoire, BESANCON, 25000, France. *\l:'pAYb&fe`7}T ^j A simple, sleek and intuitive interface matches the online and app experience the modern consumer has come to expect. By the time I noticed, $43.40 worth of my money had been siphoned off in "administrative fees" each month. Review any internal documents or links you may have that reference Avidia. Alegeus provides powerful, flexible technology - with a difference We're proud to offer the industry's most innovative healthcare payments platform, providing essential spending, saving and investing capabilities. Why? Read through the Account Holder Communications under the Important Documents tab and familiarize yourself with this site. Melanie Hallenbeck is Chief Growth Officer at Alegeus, leading the company's go-to-market strategy. 151-200th. This conversion period is scheduled to occur October 31, While account holders will be getting a new account number associated with their HSA, they will be able to access their Wealthcare Saver HSA using their same debit card. Thank you for using WealthCare Administration System. Investing through the WealthCare Saver investment platform is subject to the terms and conditions of the Health Savings Account Custodial Agreement and any applicable investment supplement(s). We never compete with our clients in the market we win when they win. Powered by Alegeus, Wage Parity can better serve agencies and their employees as New York increases minimum hourly homecare wage. I called again and was told that the fees 'couldn't be reversed as they were legitimate.' Once the conversion is complete on November 4th, funds will be available after end-of-day processing, typically by 7pm CT. Account holders can use their existing card for all carded accounts with Navia, including their WealthCare Saver HSA funds. This change has no impact on the additional Spending Account types Independence offers: Health Reimbursement Accounts (HRAs) or Flexible Spending Accounts(FSAs). 'Burgundy-Free County', sometimes abbreviated BFC; Arpitan: Borgogne-Franche-Comtt) is a region in Eastern France created by the 2014 territorial reform of French regions, from a merger of Burgundy and Franche-Comt.The new region came into existence on 1 January 2016, after the regional elections of . https://wealthcare.wealthcareportal.com/Page/PrivacyPolicy. WealthCare Saver is a dba of Alegeus Technologies, LLC, an Internal Revenue Service (IRS) authorized, non-bank passive trustee operating as the custodian of health savings accounts. To support the WealthCare Saver transition, PNC has agreed to resign as the custodian and assign WealthCare Saver the successor custodian. When will funds be available after the transition? Learn More Experienced We are always on the lookout for passionate and talented professionals that are seeking an adventure, not just a job. With more than 25 years of growth and innovation, Alegeus is the market leader in SaaS-based healthcare payment solutions. Learn how Alegeus can help you unlock the full potential of your account-based programs through our flexible solutions, continuous innovation and collaborative partnership model. No enrollment, funding/contribution, or reporting changes. HSA investments offer an unparalleled tax advantage that even a traditional retirement account like a 401(k) or IRA simply cant match. The companys strong and experienced team, coupled with its innovative solutions and unique white label model, delivers partnersfrom administrators to health plansa powerful value proposition and I look forward to positioning them for continued success.. With our white-label model, accounts and cards can become an extension of your brand and member experience, serving up frictionless and intuitive financial solutions designed to satisfy the expectations of modern consumers. We use cookies to optimize site functionality and give you the best possible experience. Franche-Comt , historical region and former rgion of France. The Chief Counsel memo reiterates that FSA administrators must have a system in place to substantiate expenses and must deny reimbursement for any expenses that are not properly documented. CapFinancial Partners, LLC ("CAPTRUST") is an investment adviser registered under the Investment Advisers Act of 1940. How BBB Processes Complaints and Reviews. The blackout period will run from October 31st to November 4th. WealthCare Saver is Anthem's New HSA Custodian January 8, 2021 / in Anthem, Carrier, Employee Benefits / by Cornerstone On March 13, 2021, WealthCare Saver will replace PNC Bank as the custodian of the HSAs for: Current Anthem members who are actively enrolled in an HSA-compatible health plan. European Teaching Rankings 2018. Employers found out of compliance could be held responsible for all back payroll taxes and associated penalties, issuance of corrected W2s which would then require all employees (past and present) to file amended tax returns, likely resulting in additional taxes and penalties. The health savings account (HSA) market has become increasingly complex and competitive in recent years. Administrator View customer accounts Employer View company and employee accounts Participant View account activity and balances Partner User View Partner user accounts Alegeus provides software and services to support the administration of health-related consumer-directed accounts, such as health savings accounts and flexible spending accounts. In addition, we are an HSA custodian and provide the WealthCare Saver solution directly to consumers. Complexity, Handled With the industry's most comprehensive API solution, Alegeus simplifies administration of even the most complex plan designs. Safety starts with understanding how developers collect and share your data. Following the transition, WealthCare Saver becomes the non-bank trustee and PNC remains the depository. BBB Business Profiles are provided solely to assist you in exercising your own best judgment. Click here to download details: https://www.wealthcaresaver.com/docs/WealthCare_Saver_HSA_Investment_Options.pdf. We will be updating the impacted Health Spending Account member documents and forms and marketing materials on the member portal, the Marketplace, Broker Forms Online, Sales Portal and Employer Portal to reflect the WealthCare Saver name change by March13. Read about trends and forces shaping the benefits landscape. Add Company ID: I900808825 to your ACH Bank filters for HSA funding with your bank. Will this change require a new service contract or amendment? World University Rankings 2023. Alegeus Appoints Melanie Hallenbeck as Chief Growth Officer, 101 Southhall Lane Suite 400Maitland, FL 32751, Copyright 2023 Alegeus Technologies, LLC. They may continue using their cards leading up to and following the transition. This app may share these data types with third parties, I barely downloaded the app yesterday registered and although I can see my account whenever I select the option (Investments) the app crashed and it does this every time. Please enable javascript to improve your viewing experience. Learn how Alegeus can help you unlock the full potential of your account-based programs through our flexible solutions, continuous innovation and collaborative partnership model. hb```c``@(a?PIN k5p,QtsG1N*'"vvz\F9` ~7!H AKJAxe3051103^dd`X|.4:@33ndf,P4.@ @\f@VH-g4#m mS)`.%vN2MM;ZN This site requires javascript to display properly. You are encouraged to deliver an employee notification email on February 4, 2021. *WealthCare Saver is a dba of Alegeus . Learn how Alegeus can help you unlock the full potential of your account-based programs through our flexible approach, continuous innovation and collaborative partnership model. We love helping people save money on healthcare expenses and work behind the scenes powering health benefit accounts for over 300 administrators to support millions of consumers in getting the most from their healthcare dollars. Let us help Password * Forgot your Password? No, while the HSA Custodian is changing, the Employer and Navias responsibilities as part of the agreement will remain the same. However, the memo serves as a reminder to FSA administrators about the importance of proper documentation for expenses claimed through FSAs. CAPTRUST acts as investment advisor with respect to the investments available in your HSA. Please explore each tab on the site to get detailed information about the transition and the WealthCare HSA Saver product. Her proven track record of success in driving accelerated revenue growth, product and market expansion will greatly benefit our partnersthe backbone of our organization, said Leif OLeary, CEO, Alegeus. Mark Waterstraat, chief customer officer, explains the ins and outs of COBRA, including eligibility, costs, deadlines and more. I understand that I may consult a tax professional or legal counsel. The blackout is a period of time that employees will not be able to access their Avidia HSA Balance accounts while we are transitioning it to the WealthCare Saver HSA. WealthCare Saver is a dba of Alegeus Technologies, LLC, an Internal Revenue Service (IRS) authorized, non-bank passive trustee operating as the custodian of health savings accounts. endstream endobj 528 0 obj <>/Metadata 47 0 R/Pages 525 0 R/StructTreeRoot 91 0 R/Type/Catalog/ViewerPreferences<>>> endobj 529 0 obj <. No, there will be no funds inaccessibility window to facilitate the custodial transition. Note, this identifier begins with the letter I not the number 1). All Rights Reserved. With more than two decades of channel experience in the employee benefits and consumer-directed healthcare space, Hallenbeck most recently served as chief growth officer at . Alegeus is the industry's most innovative API solution for benefit administration. I don't understand how it's acceptable to steal more than 80% of the account value for precisely zero service or benefits. In the midst of this race to zero, the WealthCare Saver HSA offers a truly different approach one that will fuel your business growth while providing more for account holders. Were announcing an update regarding the custodian of your employees HSAs. No, the investment threshold will not change on 3/13/21. By leveraging our best-in-class technology and their industry-leading service and solutions, Alegeus clients are realizing the highest customer satisfaction (NPS) scores in the industry nearly +50 points higher than our closest competitors. WealthCare Saver, a dba of Alegeus Technologies, LLC, is a licensed Non-Bank Custodian of HSA cash accounts. Alegeus, Alegeus Technologies, WealthCare, WealthCare Saver are registered trademarks of Alegeus Technologies, LLC. Our client partners are at the center of everything we do. Overview. Today, PNC serves as both the HSA custodian and depository. This is beneficial for audit and security reasons: On April 28, 2023, the Internal Revenue Service (IRS) released a Chief Counsel memorandum reiterating the substantiation requirements included in proposed IRS regulations for health flexible spending arrangements (health FSAs) and dependent care flexible spending arrangement (DCFSA). Yes, approximately 30 days prior to March 13, 2021, Alegeus will send a notification by mail to accountholders who have an account custodied by PNC Bank as of approximately January 15, 2021 notifying them of the change in custodian. Before we get any deeper, its important we define and clarify the difference in what a custodian is versus, what a depository is responsible for. No funds movement or transfer to facilitate the transition. The WealthCare Saver HSA experience guides consumers to make better healthcare decisions. Customer Reviews are not used in the calculation of BBB Rating. At Alegeus, we believe in the extraordinary power of partnership. endstream endobj startxref Alegeus is uniquely positioned to drive your future success Our innovative solutions deliver tangible value for you, your customers and members - delivering flexibility to design and deploy a truly differentiated product experiences that will delight your customers and achieve your business goals. Alegeus, Alegeus Technologies, WealthCare, WealthCare Saver are registered trademarks of Alegeus Technologies, LLC. App won't let me submit for reimbursement. Your HSA is a powerful investment vehicle and can help you better prepare for your future. All rights reserved. Need to find a different location? Backed by Pacific Life, the new option allows HSA account holders to take advantage of some of the highest interest rates in the market. Alegeus recommends utilizing a different REST user configuration on a "per platform" basis. Well guide you through the process. Yes, the new WealthCare Save HSA will be linked to their existing debit card for use once opened and funds have been deposited. Developed by Alegeus, the WealthCare SMART App provides a single access point for members to manage their HSAs and other tax-favored benefit accounts. Want your HSA money to make you money? %%EOF Registered in all 50 U.S. states. This site requires javascript to display properly. This memo serves to reinforce the importance of operating within the rules and helps you demonstrate to customers that youre not imposing undue scrutiny, but simply helping them to remain compliant. With the WealthCare platform, investing your HSA funds is as easy as 1, 2, 3! SOC 2 Type 2, GDPR, CCPA compliant. No. Bonus fact: Any investment earnings you make with your HSA are tax free!
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