If you have an HSA account with a different custodian, you're able to transfer your balance to Benepass at any time, so long as you're actively enrolled in an HSA with Benepass.
If you are not enrolled in an HSA with Benepass yet, please contact your employer to ensure you have elected into the benefit.
Transfer an HSA to Benepass
Before you begin
Confirm that you are actively enrolled in a Health Savings Account with Benepass
Complete the HSA application when prompted in the Benepass app
Ensure no remaining funds are expected to deposit to your existing HSA
Steps
Follow these steps to transfer funds from an existing HSA into your Benepass HSA:
1. Access the transfer form
Log in to your HSA workspace in your Benepass account https://app.getbenepass.com/.
Navigate to the Documents tab
Select HSA Forms
2. Generate your pre-filled form
Locate the HSA Transfer Request Form
Click the Download option on the right to generate the form
After a few seconds, a PDF will download. Follow your browser’s prompt to save the file.
If you'd like to update a prefilled field, please visit your Account Settings to make changes to your information.
Note: This form is for inbound transfers only (transferring funds into your Benepass HSA). For outbound transfers, refer to the separate instructions below.
3. Complete the remaining information
Your date of birth (DOB) and Social Security Number (SSN) will not be pre-filled
Download the form and fill in any missing details
4. Submit the form to your current HSA provider
Complete Sections 1–5 of the form
Send the completed form directly to your previous HSA custodian
5. Transfer and processing
Your previous custodian will initiate the transfer by:
Mailing a check, or
Sending an ACH payment
Once the funds are received by the bank, they will be processed and deposited into your Benepass HSA
What to expect
The entire process can take up to 8 weeks, depending on bank processing times. Funds will be unavailable while they are being transferred.
Benepass custodian bank details
Mailed checks should be only directed to Benepass's custodian partner bank:
Pacific West Bank
Attn: Benepass
2040 8th Avenue
West Linn, OR 97068
My custodian requires I use their transfer form
If your custodian requires a different form, please contact the Benepass Support Team for further assistance.
Transfer a Benepass HSA to another custodian
Before you begin
Ensure no remaining contributions are scheduled to deposit to your existing HSA
Liquidate any invested funds and ensure all funds have returned to your HSA balance
Steps
Contact your new HSA custodian to request their HSA transfer form
Complete the form and contact the Benepass Support team from the app
Benepass will initiate the transfer to your new account
Benepass custodian bank details
If requested by your new custodian, see below for details on Benepass's custodian bank partner:
Pacific West Bank
Attn: Benepass
2040 8th Avenue
West Linn, OR 97068
Phone: 503-905-2222
Fax: 503-905-2223
What to expect
The entire process can take up to 8 weeks, depending on bank processing times. Funds will be unavailable while they are being transferred.
Additional considerations
Once you've opened an HSA with Benepass, you may maintain your account for any length of time.
Access to funds
The transfer process can take up to 8 weeks. If you have upcoming expenses, consider delaying any transfers to ensure your balance is accessible. Closing of accounts is not a required step to begin the transfer process.
Active investments
You will need to liquidate any invested funds prior to transferring your balance. You may opt to keep your current HSA if you prefer to keep these funds invested.
Spend down remaining balance
You may choose to spend down your account to $0 instead of transferring the remaining balance.
Do I need to transfer the full amount?
Typically, no. Please confirm with your custodian any considerations to take place with partial transfers before filling out the transfer form.