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Anthem's New Act Wise HSA Enhancements and Education

Oct 22, 2020

Anthem continues to enhance their Act Wise Health Savings Account (HSA) to support members’ health and financial wellbeing. The latest enhancements include:

 

  • HSA education for Open Enrollment. Anthem's new emails provide quick and easy access to employer resources like videos, an HSA contribution calculator, and helpful articles. The email for Small and Large Groups includes two embedded emails they can send to their employees before and during Open Enrollment. These emails help new and renewing members understand the benefits of an HSA and how to determine contribution amounts. They also contain a link to an instructional video.
  • Spend-down provision for Act Wise Dependent Care Flexible Spending Account (DCFSA) plans. Groups can add a spend-down option to Act Wise DCFSA plans upon renewal. Members who leave employment can then submit manual claims against their remaining balance until the plan or grace period end date.
  • Reduced HSA fees and simpler administration. Members benefit from simpler administration and reduced fees when they move their HSA balance to their Act Wise HSA with PNC Bank as the custodian. Anthem provides an easier way to transfer HSA funds from Health Equity, Fidelity, or HSA Bank for members who have no bulk transfer options available in their group.
  • Simplified account open. New Small Group members enrolling in an HSA after November 1, 2020, won’t need to reply to a letter or email to complete the process. Members still need to pass the federally mandated customer identification process. If the member does not want the account they can call Member Services at the number on the back of their ID card or debit card. Accounts not funded will be closed after a period of inactivity.

 

For questions, please contact a member of your B&P Sales Team - 888.722.3373.

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