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. Our product and market experts share the top five trends anticipated to drive the healthcare and benefits space this year. 9 See similar companies for insight and prospecting. Will this change require a new service contract or amendment? HSAs are becoming commodities, as administrators cut fees and sacrifice value to attract more clients. When will funds be available after the transition? WealthCare | Health Savings Accounts (HSA) for a healthy future The WealthCare Platform Accessible With WealthCare, access your latest account information at your fingertips. Debit cards, Account holders currently investing their Avidia HSA funds will not need to take action to liquidate those investments. The health savings account (HSA) market has become increasingly complex and competitive in recent years. Custodians typically perform functions such as producing required tax reporting, providing required account disclosures or communications, and establishing customer identification processes. Section 1: HSA Account Information (WealthCare Saver as Custodian) ACCOUNT NUMBER(12 digits beginning with 601) LAST NAMEFIRST NAME EMPLOYER NAME EMAIL ADDRESS STREET ADDRESS CITY STATEMIDDLE INITIAL - SOCIAL SECURITY NUMBER TELEPHONE NUMBER ZIP CODE Transfer my HSA FROM this account Section 2: Current Custodian Information ACCOUNT NUMBER 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. *\l:'pAYb&fe`7}T ^j Employee experience: Avidia Bank, the current custodian of your Health Savings Accounts (HSAs) with Navia, is reducing the HSA portion of its business. Thank you for using WealthCare Administration System. The balance in your HSA Investment Account is subject to investment risks, including fluctuations in value and the possible loss of the principal amount invested. Powering more than $6 billion in healthcare transactions annually, Alegeus delivers the security, reliability, stability and proven financial solutions you need to manage your customers money. App won't let me submit for reimbursement. 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). 527 0 obj <> endobj 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. No, the investment threshold will not change on 3/13/21. This ID was assigned by your Administrator and could be your Health Plan Member Number, Social Security Number . Our highly flexible, white-label platform powers account-based benefit programs including HSAs, FSAs, HRAs,. Following these rules helps ensure compliance and reduces the risk of audits and penalties. For information regarding underlying investment expenses, earnings, and distributions, see the applicable investment prospectus and other publicly available information. BBB Business Profiles may not be reproduced for sales or promotional purposes. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints. This change was initiated by WealthCare Saver a fully-integrated, private-label HSA custodial solution from Alegeus Technologies, LLC. There are also no spending freezes associated with this transition. All you need is an HSA cash account balance of $500. Prior to Elevate, she served as chief growth and marketing officer at benefitexpress, which was acquired by Wex (NASDAQ: WEX), a leading global benefits company. I don't understand how it's acceptable to steal more than 80% of the account value for precisely zero service or benefits. Need to find a different location? Copyright 2023 WealthCare. How BBB Processes Complaints and Reviews. On March 13, 2021, WealthCare Saver a private-label HSA solution that is fully-integrated with our platform and is an IRS-authorized non-bank trustee will become the non-bank trustee of health savings accounts. 2021 Independence Blue Cross. Enter the information below to create your account. 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. Alegeus, Alegeus Technologies, WealthCare, WealthCare Saver are registered trademarks of Alegeus Technologies, LLC. Read about trends and forces shaping the benefits landscape. Our highly flexible, white-label platform powers a range of account-based programs, including those listed here. Alegeus has the only HSA in the market with a new, modern investment experience. No, the online and digital experiences will not change. Please explore each tab on the site to get detailed information about the transition and the WealthCare HSA Saver product. %%EOF When you partner with Alegeus, we are wholly focused on your growth and success not just as your technology partner, but as your growth enabler. Alegeus, the market leader in healthcare payment solutions, today announced the appointment of Melanie Hallenbeck as chief growth officer. No. Alegeus is headquartered in Waltham, Mass., with operations centers in Orlando and Bangalore, and a large remote workforce. Our highly flexible, white-label platform powers a range of account-based programs, including those listed here. 626 0 obj <>stream With more than 25 years of growth and innovation, Alegeus helps our clients (and their customers and participants) achieve new levels of success using account-based programs. Corporate Relations Get the big picture on a company's affiliates and who they do business with. Let us help Password * Forgot your Password? Well guide you through the process. 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. Their account history will remain intact leading up to and following the transition. Investing your HSA funds may be a great option for you. No, accountholders are not required to undergo a new CIP process if they are an existing HSA accountholder on the OCA platform. A custodian: Is responsible for protecting the employee, managing the account, communications, account opening process, funds movement, regulations & compliance, and more. Alegeus has led the consumer funding technology industry for more than 20 years, providing support to health plans and TPAs, and delivering a white-label HSA solution that will help you earn new revenue, achieve speed to market, manage operational costs and more. We encourage you to take this opportunity to review your substantiation procedures and make any necessary adjustments to ensure the long-term success of your FSA plans and continue providing maximum value to your employee customers. I expressed that I was frustrated and would be closing my account, and the representative simply wished that I would continue business with them as she ended the call. Built by a deeply knowledgeable HSA and investment product team and powered by an API-driven, cloud-based brokerage platform the investment solution features auto-rebalancing, on-demand investment statements, historical performance of available funds, and an impressive investment stack: The WealthCare Saver HSA experience lives within a single platform for a seamless user experience. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. During this time, they will continue to have access to their other benefit accounts and be able to use their existing card for those accounts, if enrolled. Current This content is restricted to site members. 1901 Market Street | Philadelphia, PA 19103. If you've forgotten your password, please contact your designated Administrator to have your account password reset. Bourgogne-Franche-Comt (French pronunciation: [bu f kte] (); lit. The blackout period will run from October 31st to November 4th. The WealthCare Saver HSA experience guides consumers to make better healthcare decisions. At Alegeus, we believe in the extraordinary power of partnership. What is the blackout and why is it important? BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. WealthCare Saver, a dba of Alegeus Technologies, LLC, is a licensed Non-Bank Custodian of HSA cash 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 <. BBB Business Profiles are provided solely to assist you in exercising your own best judgment. This is an important period of time used to transfer over balances and audit to ensure accuracy. Thus, as required by the existing custodial agreement, the only employee impact is notification delivered via two communications: Submit Employee Enrollments & Terminations. We are excited to welcome Melanie to Alegeus. and will be executed in collaboration with OCA, the Administrator of your HSA. No changes to how you manage your HSA program. What do you think? All rights reserved. Start Your Free Trial 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. Alegeus, Alegeus Technologies, WealthCare, WealthCare Saver are registered trademarks of Alegeus Technologies, LLC. https://wealthcare.wealthcareportal.com/Page/PrivacyPolicy. Consumers can access their HSA account and invest in real time (on both mobile and desktop) without leaving the Alegeus platform. hbbd```b``QA$D2"DV!f59jVaA"Hf foM0&1XN0lN,ay7A"zMch`g`3`yi3X/(Bg`` S"l Adjudication APIs WealthCare Saver will become the authorized, nonbank trustee responsible for managing the funds in an HSA account on March13. Administrator View customer accounts Employer View company and employee accounts Participant View account activity and balances Partner User View Partner user accounts I called again and was told that the fees 'couldn't be reversed as they were legitimate.' With our SMART Account functionality, discover ways to stretch your healthcare dollars in real time. Alegeus Technologies is a leader in the consumer-directed account industry, supporting more than 30 million consumer and 225,000 employer health benefit accounts. Add Company ID: I900808825 to your ACH Bank filters for HSA funding with your bank. News about Employer and Consumer Business. We currently offer two products: Administrative APIs and Participant APIs. 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. Enter your First and Last Name. The balance in deposit accounts will continue to be insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum amount permitted under FDIC guidelines. Read about trends and forces shaping the benefits landscape. Alegeus recommends utilizing a different REST user configuration on a "per platform" basis. Universit Bourgogne Franche-Comt (UBFC) 601-800th. We deliver exceptional user experiences and differentiated capabilities that help our partners strengthen their product offerings, operate more efficiently, and unlock their full growth potential. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. Helping clients win in a rapidly changing marketplace with the industrys largest and most comprehensive consumer healthcare funding platform. Safety starts with understanding how developers collect and share your data. Alegeus Technologies is a leader in the consumerdirected account industry, supporting more than 30 million consumer and 225,000 employer health benefit accounts. 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. Published on May 1st, 2023. That is, if you are calling REST APIs to drive multiple channels (i.e., portal, mobile, IVR), have each channel use a different user ID. Attorney and policy expert Jason Lacey shares strategies for benefits professionals to remain compliant while helping employers support their impacted employees. Navia will take care of updating communications on our sites. World University Rankings 2023. Alegeus Technologies is a leader in the consumerdirected account industry, supporting more than 30 million consumer and 225,000 employer health benefit accounts. 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. We expect their new HSA account information to be available starting September 29, Account holders should destroy any remaining paper checks they have on hand. Because you never pay taxes on earnings or withdrawals for qualified medical expenses! Melanie Hallenbeck is Chief Growth Officer at Alegeus, leading the company's go-to-market strategy. Login | Alegeus Technologies Login We will maintain the confidentiality of your personal information in accordance with our privacy policy. All rights reserved. It keep shutting off the app when I hit the link to submit payment. You are encouraged to deliver an employee notification email on February 4, 2021. No, there will be no funds inaccessibility window to facilitate the custodial transition. 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. Enter your Employee ID. This change has no impact on the additional Spending Account types Independence offers: Health Reimbursement Accounts (HRAs) or Flexible Spending Accounts(FSAs). Developed by Alegeus, the WealthCare SMART App provides a single access point for members to manage their HSAs and other tax-favored benefit accounts. DriveWealth, LLC, a registered broker dealer and member of FINRA and SIPC. No, accountholders debit cards will not change. To support the WealthCare Saver transition, PNC has agreed to resign as the custodian and assign WealthCare Saver the successor custodian. As a benefits administrator, you may have found yourself competing against TPAs who bend the rules, or you may have gotten pushback from employers and brokers for simply following the rules as written. She did not inform me that when I had my account closed and moved to Fidelity, which was finalized on April 10th, I would be charged an additional $25 for absolutely no reason. Alegeus WealthCare Administration System Welcome to Your CDH Account Administration Platform Please choose your login type below. Customer Reviews are not used in the calculation of BBB Rating. 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. BBB Business Profiles generally cover a three-year reporting period. SOC 2 Type 2, GDPR, CCPA compliant. This site requires javascript to display properly. hb```c``@(a?PIN k5p,QtsG1N*'"vvz\F9` ~7!H AKJAxe3051103^dd`X|.4:@33ndf,P4.@ @\f@VH-g4#m mS)`.%vN2MM;ZN 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.. Alegeus, the market leader in healthcare payment solutions, today announced the appointment of Melanie Hallenbeck as chief growth officer. 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. However, Accountholders are encouraged to review the new terms and conditions governing their account including the new accountholder agreement at www.wealthcaresaver.com/disclosures/wcsp. 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 Elevate, a fast-growing developer of employee benefits technology. Your investment accounts can be created and managed through the WealthCare portal. You may close this window or login again. 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. HSA investments offer an unparalleled tax advantage that even a traditional retirement account like a 401(k) or IRA simply cant match. I only became aware that I have been having fees applied on my account in March 2023, when I needed tax information. Ms. Nicole Gardner, Senior Director Compliance. These substantiation rules are longstanding, and there were no changes to the rules in the proposed regulations. Market leadership and scale endstream endobj startxref CAPTRUST acts as investment advisor with respect to the investments available in your HSA. Alegeus is PCI-DSS, SOC1 type 2 and SOC2 type 2 certified; our API requests use TLS1.2 encryption to give administrators precise control over access to data. Previously, she was senior vice president at WageWorks, leading the organizations health plan partner channel business. WealthCare Saver leverages all the current HSA functionality and features you know, but includes a fully integrated, modern investment experience. This means that PNC Bank has agreed to resign as the custodian and will assign WealthCare Saver as the successor custodian. Note, this identifier begins with the letter I not the number 1). Please contact your Administrator for questions regarding access to this site or for questions about balances and statements. At WealthCare Savers request, PNC has agreed to resign as the custodian of your HSA and assign WealthCare Saver the successor custodian. A simple, sleek and intuitive interface matches the online and app experience the modern consumer has come to expect. Effective March13, 2021, WealthCare Saver will assume custodial responsibilities for all Health Savings Accounts (HSAs) offered through Independence. By the time I noticed, $43.40 worth of my money had been siphoned off in "administrative fees" each month. 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. %PDF-1.6 % CapFinancial Partners, LLC ("CAPTRUST") is an investment adviser registered under the Investment Advisers Act of 1940. Alegeus is the market leader in SaaS-based benefit funding and payment solutions. The new capability greatly simplifies the complexity of open enrollment for participants and administrators. Read about trends and forces shaping the benefits landscape. Our client partnerships extend beyond the technology, as we lean in with you to drive adoption and usage ensuring your programs success, now and into the future. This is beneficial for audit and security reasons: 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. '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 . Customers and members do not need to take any action and there is no impact to members enrolled in a 2021HSA plan or how they interact with their benefit or access their health savingsaccount: 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. 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. Alegeus, Alegeus Technologies, WealthCare, WealthCare Saver are registered trademarks of Alegeus Technologies, LLC. 1601 Trapelo Road | Main Building, Suite 301. Nothing about the day-to-day operation, employee account usage, or teams supporting the HSAs change. WealthCare Savers Investment Solutions Flyer, WealthCare Savers Investment Solutions FAQ, Avidia Legal Account Holder Notifications, Scheduled Health Reimbursement Arrangement (HRA), 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. Please enable javascript to improve your viewing experience. Alegeus Technologies is a leader in the consumer-directed account industry, supporting more than 30 million consumer and 225,000 employer health benefit accounts. When will a current employee see their new HSA online? Overview. 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). Mark Waterstraat, chief customer officer, explains the ins and outs of COBRA, including eligibility, costs, deadlines and more. There will be no impact on day-to-day account usage: Summary: The transition simply entails a legal change in the custodial entity and the employee notifications required by existing custodial agreements. *WealthCare Saver is a dba of Alegeus . Please explore each tab on the site to get detailed information about the transition and the WealthCare HSA Saver product. Online account access does not change. Young University Rankings 2022. Again, this helps demonstrate why your employers should want to work with a compliant administrator, lest they invalidate their entire plan. We are always on the lookout for passionate and talented professionals that are seeking an adventure, not just a job. 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).These substantiation rules are longstanding, and there were no changes to the rules in the proposed . No, while the HSA Custodian is changing, the Employer and Navias responsibilities as part of the agreement will remain the same. Consumers will have two ways to save HSA funds. Franche-Comt , historical region and former rgion of France. We never compete with our clients in the market we win when they win. Check out our latest resources and actionable insights. 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. In order to ensure our members are aware that WealthCare Saver will be administering their Independence HSA plans, members will be notified via mail at least 30days prior to the March13 effective date, as required. Alegeus Technologies, LLC * 9 Principals See who the company's key decision makers are 292 Contacts Reach the right people with access to detailed contact information. Employees will be able to see their accounts on their Navia employee portal on September 29th. Complexity, Handled With the industry's most comprehensive API solution, Alegeus simplifies administration of even the most complex plan designs. WealthCare Saver is a leading custodian of health savings accounts (HSAs) with long-standing experience in the market. The developer provided this information and may update it over time. Today, PNC serves as both the HSA custodian and depository. 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. Contact Information 1601 Trapelo Rd Lbby 2 Waltham, MA 02451-7357 Get Directions Visit Website (800) 369-9794 This business has 0 reviews Customer Complaints 14 complaints closed in last 3 years 8. Earlier in her career, she held senior sales roles at ADP and Progressive Benefits Solutions. Account APIs Manage all participant accounts, including adding/deleting employees, resetting passwords, and updating participant contact information. Please enable javascript to improve your viewing experience. 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. The account is not subject to a funds inaccessibility window or spendingfreeze as a result of the custodial transition. An HSA custodian enables participants to contribute money to a Health Savings Account and withdraw funds to pay for qualified medical expenses. As a result, your employees HSAs will be migrated to our new WealthCare Saver HSA product. Melanie will play an integral role in helping partners to achieve sustained growth through our unique partner-powered business model fueled by her extensive industry expertise, her intimate knowledge of our partners businesses, and her deep experience in driving go-to-market strategies for account-based benefit programs., I have long admired Alegeus, both as a client and as a market player in consumer-directed healthcare, said Hallenbeck. Along a rushing river, on the shaded esplanade of a Roman basilica or on the urban quay sides of a bustling city; at the summit of a mountainous ridge, on a path . CAPTRUST acts as investment advisor with respect to the investments available in your HSA. As noted by the ECFC, this may also be an indication that plans will be more closely scrutinized during audits. An enhanced-yield savings option coming in 2022 will drive additional interest back to the consumer. 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.

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