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 in to the benefit.

• Before you begin

  • Confirm that you are actively enrolled in an 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

  1. Complete the HSA transfer form 
  2. Send the completed form to your previous custodian
  3. Your previous custodian will initiate the transfer of your funds to your Benepass HSA by mailing a check or initiating an ACH payment
  4. Once received by the bank, your funds will be processed and deposited into your Benepass HSA account on your behalf

  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.

• 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

  1. Contact your new HSA custodian to request their HSA transfer form
  2. Complete the form and send it to the Benepass Support Team
  3. 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. f you have upcoming expenses, consider delaying any transfers to ensure your balance is accessible.

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.