Managing multiple HSA accounts can be done, but consolidating them will bring ease to your life. If you have an existing HSA with another custodian, you can easily transfer it to your HSA with 24HourFlex. If you are interested in simplifying your life and transferring your HSA to 24HourFlex, please follow the step-by-step instructions provided below.
Things to keep in mind:
- Contributions made to the existing HSA will still count towards the current tax year contribution limit.
- The transfer itself does not count towards the current tax year IRS contribution limit.
- IRS contribution limits for 2017: Individual limit $3,400.00 / Family limit $6,750.00
- IRS contribution limits for 2018: Individual limit $3,450 / Family limit $6,900
- The HSA transfer will direct the current custodian to send the balance to your HSA with 24HourFlex.
- Transfers typically take 3 to 4 weeks, depending on how quickly your form is processed.
- If you have funds invested in mutual funds or stocks, liquidating your account may take additional time. Please contact your HSA custodian for additional details.
Please follow the simple steps below to get started.
Step 1: Start by downloading a copy of the HSA Transfer Form: Individual.
Step 2: Fill out the form, sign it, make a copy, and send it to your old HSA provider.
Step 3: Please confirm receipt of the form with your former HSA provider, and make sure that they do not have any questions. On average, allow for 3-4 weeks for the transfer to complete.
Step 4: You’re done! Now all of your HSA funds can be managed in one place through your 24HourFlex Consumer Portal.