Feb 03, 2022
- Large Group
- Small Group
Training available before HSA depository changes on March 31
BMO Harris will become the depository of Anthem health savings account (HSA) funds on March 31, 2022. BMO Harris will handle all movement of money to and from employees’ HSAs, including contributions to, and payments from, those accounts.
You can view this FAQ or watch this training video to learn more. The password for the video is 26AhxHNc.
Employers will need to update banking filters before March 31. We sent information to employers through DocuSign in November that outlined what they need to do based on their HSA funding method.
- A depository is the bank that holds the funds.
- A custodian is responsible for protecting the consumer, and managing the account, communications, compliance, tax reporting, the account opening process, funds movement, and more.
- Our custodian is and will remain WealthCare Saver, there is NO change to the custodian.
Please contact your sales representative for more information.