University’s health savings account benefit administrator transitioning

If you are a participant in the university’s health savings account (HSA), you are likely already aware of the change to CWRU’s HSA benefit offering. Starting on April 12, the HSA—currently administered by BenefitWallet—will be transitioned completely to a new administrator, HealthEquity, an IRS-approved non-bank custodian.

This transfer will happen automatically. There is no action required by you to complete this transfer to HealthEquity. If you have elected to contribute to your HSA in 2024, payroll deductions are being deposited to your HealthEquity account.

The following are important dates to keep in mind:

  • April 4 at 8 p.m.: Final day to use your BenefitWallet HSA debit card.
  • April 11: Account balances and in-kind investment holdings are transferred to your HealthEquity HSA.
  • April 12: Your transferred funds will be available at HealthEquity, including your investment funds. Starting on this date, you will be able to make changes to your investments.

View more information on the HeatlhEquity transition portal.