Welcome, Wells Fargo health savings account holders

Date Posted : September 23, 2016

HSA Investment Guide

As an owner of an Optum Bank HSA, you can invest in a portfolio of mutual funds. See your investment options.
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Welcome to Optum Bank!  During your transition to Optum Bank, familiarize yourself with important information on the transition of your health savings account that includes the checklist and FAQs below.

We are excited to introduce ourselves and are committed to delivering extraordinary benefits and support to you with your transition from Wells Fargo. Optum is a health and wellness company helping more than 77 million people with a variety of solutions making health care simpler, more affordable and more accessible. We provide services to over 3.5 million health accounts to individuals and employers today.

Your HSA Checklist

Use this checklist to take the first steps in making your HSA transition to Optum Bank®, Member FDIC, as smooth as possible.

  1. Register your account online. Your account is open, but make sure you register your account online. If you haven’t done so already, you can register by following the steps below:
    • Step 1: Click Register for this site.
    • Step 2: Follow the registration process by providing your social security number, date of birth, last name and your new Optum Bank debit card number, which you should be receiving in the mail very soon, if you haven't received it already. You will also need to complete the security questions.
  2. Designate a beneficiary. After registering your account, be sure to log in and designate a beneficiary for your HSA. You can complete your beneficiary designation online within the profile section of your account.
  3. Update your ABA Routing Number. If you are making electronic ACH contributions to your HSA from another bank or you have provided your account number to a medical provider or provider billing service to have payments directly debited from your HSA, the ABA Routing Number and your HSA account number will change. Optum Bank’s ABA Routing Number is 124384877, and your HSA account number is located under your account profile, after registering for online access. Please utilize these new numbers for making electronic ACH contributions to your HSA or withdrawals from your HSA that are initiated after your account moves to Optum Bank. If your HSA is linked to any recurring contribution or bill pay services you will need to provide the new Routing Number and your HSA account number to the originators of those electronic ACH transactions.
  4. Check your mail. Your Health Savings Account Debit MasterCard® will be arriving soon, but should not be used until the administration of your HSA account funds are transferred to Optum Bank.
  5. Update your debit card number. If you have your Wells Fargo debit card on file with a medical provider or provider billing service, be sure they update the card number on file for debit card payments.
  6. Setup online bill pay. After registering your account, you can set up bill pay by clicking the Make a Payment link at the top of the page. Your bill pay information with Wells Fargo is not transferring to Optum Bank and will need to be reestablished.
  7. Sign up for electronic communications. After you register on optumbank.com, we’ll ask you if you want to receive information about your account by mail or electronically.
  8. Explore our tools. Our online HSA calculator helps to determine your contribution limit, estimate your tax savings and show how your savings may grow over time. Access the tool by logging in to your account at optumbank.com.
  9. Want to learn more about your HSA? Explore the resources and tools available to you on this website.

Download a printable version of this checklist: HSA Checklist (PDF)

Questions?

Check out our Frequently Asked Questions (PDF) for answers to common questions about this transition and your new Optum Bank HSA.

You may also call the Wells Fargo Health Savings Account customer support line at 1-844-326-7967.

Optum Bank is assuming the administration of account holders’ Wells Fargo health savings account (HSA) on December 31, 2016 as a result of Optum Bank receiving approval from the Federal Deposit Insurance Corporation (FDIC). Optum Bank will also assume custodianship of Wells Fargo’s HSAs on this date and the underlying deposit funds will transfer from Wells Fargo Bank to Optum Bank.

Health savings accounts (HSAs) are individual accounts offered or administered by Optum Bank®, Member FDIC, and are subject to eligibility and restrictions, including but not limited to restrictions on distributions for qualified medical expenses set forth in section 213(d) of the Internal Revenue Code. State taxes may apply. Fees may reduce earnings on account. This communication is not intended as legal, investment or tax advice. Please contact a competent legal, investment or tax professional for personal advice on eligibility, tax treatment, and restrictions. Federal and state laws and regulations are subject to change.