If you already have an HSA with another provider, we can assist you in moving your funds to Lively. One is called a “rollover”. By doing it this way, your existing HSA custodian (provider) will cut you a physical check and then you will need to send that to us and have it deposited within a 60 days period. You are limited to only one (1) rollover every year. The other methodology is what is called a trustee-to-trustee transfer. This will allow you to move a certain amount of money directly to Lively from your existing custodian (provider). While this is a preferred route since you don’t have to deal with a live check, there may be fees that are involved from your existing provider. Be sure to check with them. Don’t worry, Lively has no fees outside of what we have listed in our pricing section. We value transparency and we value your business.
Source: Publication 969 (2018), Health Savings Accounts and Other Tax-Favored Health Plans.