Participants

Transfer, rollover or withdraw your funds.

The money in the HSA is yours to use for medical expenses, or to invest and grow. However, since the money is tax-free, the IRS has stipulations on how and when you can withdraw the funds.



HSA to HSA Transfer

Transfer all or part of your HSA funds from your current HSA administrator directly to your Discovery Benefits HSA in three steps:

Step 1: Complete the HSA Transfer Request and HSA Application:

Step 2: Send the completed forms to your current HSA administrator 

  • Email, fax or mail forms. View contact information
  • Include a check for your tranferred funds, payable to HealthcareBank FBO

Step 3: Discovery Benefits will take care of the rest.

  • Your funds will be deposited into a cash account.
  • Amounts exceeding $1,000 above the threshold will be automatically transferred to an interest-bearing account.


HSA to HSA Rollover 

If you would rather have funds sent to you before transferring to Discovery, follow these steps:

Step 1: Complete the HSA Rollover Certification and HSA Application:

Step 2: Request and receive funds from your current HSA administrator.

  • NOTE: The IRS requires you to deposit those funds into a new HSA within 60 days to avoid a withdrawal tax.

Step 3: Send the completed HSA Rollover Request and HSA Application Forms along with a check for your Rollover Funds

Step 4: Discovery Benefits will take care of the rest.

  • Your funds will be deposited into a cash account.
  • Amounts exceeding $1,000 above the threshold will be automatically transferred to an interest-bearing account.

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