You can consolidate HSA funds from a previous provider, or move funds to a new provider, using one of two methods: a trustee-to-trustee transfer (T2T) or a rollover.
Trustee-to-trustee (T2T) transfers
With a T2T transfer, funds move directly between banks. You never take possession of the money, there's no limit on how many you can do per year, it isn't reported as a distribution for tax purposes, and there's no 60-day deadline to worry about, since the funds never pass through your hands.
Initiate a Trustee-to- trustee- transfer in
(Use when moving funds from a previous HSA into your Health Wallet HSA)
Select Transfer
Select Trustee-to-Trustee
Enter your former HSA provider and account number
Choose how much you'd like to transfer, and whether you'd like to close your old HSA account
Select Preview Form
Download and print your completed form
Mail the form to your previous HSA provider. Once they receive it, they'll initiate the transfer
Once received, your transfer will be reflected in your balance
Timeline: up to 5 weeks.
Initiate a Trustee-to-trustee transfer out
(Use when moving funds from your Health Wallet HSA to a new HSA elsewhere)
Contact your new HSA custodian and request their transfer-in form (sometimes called a trustee-to-trustee transfer request)
Fill out the form with your account number at your new custodian, and indicate whether you'd like to close your account if you're transferring your full balance
Mail the completed form to:
Trustee Operations
25 Air Park Drive, Suite 100
London, KY 40744Once we receive your form, we'll process the transfer directly to your new custodian
Timeline: up to 5 weeks. Checks are sent via standard mail and don't include tracking.
Rollovers
With a rollover, you receive a check yourself and deposit it into your new HSA. You're limited to one rollover every 12 months, and the funds must be redeposited within 60 days to avoid taxes and penalties. Unlike a T2T transfer, a rollover is reported as a distribution for tax purposes.
Why the 60-day rule matters
If you miss the window, your funds are treated as a taxable distribution and may incur a 20% penalty.
Initiate a Rollover Transfer in
(Use when moving funds from a previous HSA into your HSA)
Select Deposit, then choose Bank Transfer as your method
Select Rollover from an existing HSA
Timeline: typically within 3 business days.
Initiate a Rollover Transfer Out
(Use when moving funds from your HSA to a new HSA elsewhere)
Go to Submit an Expense
Select Rollover as the category
Enter the amount and submit
Timeline: typically within 3 business days.
Bank Account Not Linked
If you don't have a bank account linked, you will be promped to link one first.