Transferring your HSA from NueSynergy to MetLife for 2022
October 19, 2021
Oct 19, 2021, 09:11 AM by Courtney Fitzgerald
Health Savings Accounts (HSA) will be administered by MetLife beginning in 2022. With this change, you have the opportunity to transfer your remaining funds from the current NueSynergy HSA to the new MetLife HSA.
What you need to do
- Log in to your current NueSynergy account portal at www.MyKansasCDH.com
- If you have not yet registered your NueSynergy account you may do so using the Employer ID NUESOK.
- Select “Transfer my HSA” from the top of the Home Page
- Review and accept the transfer disclosures
- You must take action by November 5, 2021 - otherwise, if you choose to close your NueSynergy HSA at a later date, you will be assessed a $15.00 account closure fee.
- Your HSA will not close in October, this step is only giving your consent to transfer the account in 2022.
SEHP HSA Transfer Webinars
The State Employee Health Plan held a series of webinars to review the process of transferring your NueSynergy HSA to MetLife. If you were not able to attend the webinar, click here to watch the recording from the 10/19 session.
After you receive your MetLife debit card and information in early December you will be able to register and setup your account in the MetLife portal.
If you choose to transfer your NueSynergy HSA and currently have investment assets in your account, you will need to liquidate those assets into cash by December 15, 2021.
If you are transferring your HSA to MetLife, you will not have access to your NueSynergy HSA from February 2, 2022, until the transfer is recorded by Metlife. The estimated settlement date is Monday, February 14, 2022.
You will still be able to use your NueSynergy HSA until it is closed for transferring on February 2nd. Transactions that take place close to the closure date may delay your account being transferred and your access to funds.
Your new MetLife HSA will be established in early December. Payroll contributions won’t begin until January. MetLife’s HSA includes the following features:
- No monthly fees for you to pay on your HSA when you participate in eligible plans, regardless of balance
- Automatic payroll deduction of your pre-elected contribution amount along with employer contributions.
- Consolidated tax reporting
- 2-3X higher than industry average interest rates on your MetLife cash deposits
- Robust investment options which include access to a standard set of mutual funds
Have questions? MetLife is here to help
For questions, please contact MetLife Customer Service Monday through Friday, from 8:00 a.m. to 8:00 p.m. Eastern time. A Frequently Asked Questions document is also available here.
MetLife Customer Service