Horizon FURTHER - Horizon MyWay Members Receiving Notification of Enhancements
(Posted on 10/26/18)
It’s mid-October, so I am sure you are all dying for something else to think about as we approach the busy season. Don’t you worry, I’ve got something for you! (Seriously, this is important, read on!)

Horizon has a new banking partner, FURTHER, that is going to give members more access to and control of their HSA accounts, but we’ve got some work to do to get there.

First things first, all members in a MyWay plan are going to receive a letter letting them know about the bank change, and a form (you can find it here) that they need to complete to move their money. The form needs to be received by the bank before November 30th to make sure that funds are available 1/1 after the blackout period is over. Anyone who’s opposed to paper can fill out the survey online at https://www.surveymonkey.com/r/horizonHSAtransfer . As long as the form or survey are received by 11/30, there’s a blackout period from 12/15-1/1 where funds will be unavailable, and then funds will be in the new bank account on 1/1- it’s like a New Year Bonus!

For the procrastinators out there, here’s how this will work- if the form comes in after 11/30, but before 1/11, their blackout period starts 1/25 and lasts until 2/8. After that, they’ll get to it as soon as they can, but all bets are off on the timeframes. Plus, there’s a $3.50 fee per month starting 1/31, and no one wants to pay to get their own money!

Debit cards for everyone will deactivate on 12/15, even for the ones who haven’t sent the forms in yet. Anyone planning on staying with Benefit Wallet or who just didn’t send their forms on time will want to make sure they have checks to use in the meantime. Cards for everyone who’s done the transfer by 11/30 will be issued and mailed out before 1/1. For the procrastinators, well, they’ll have to wait a little bit longer.
All of this work will lead to more member tools, more access to account information at Horizon, and a cool new app to manage the accounts! Tell your groups to send their forms in as soon as they get them, and we’ll all have a smooth transition.

For more information, please reach out to brokersupport@martinins.com