Transition of Alliant Heatlh Savings Accounts (HSAs) to Optum Bank

Get answers to some frequently asked questions below.

Note: These FAQs apply only to current employees of Donnelley Financial Solutions. Refer to the HealthEquity FAQs for all other Alliant HSA holders.

Who is Optum Bank?

Optum Bank is part of the financial services unit of Optum, a health and wellness company serving more than 74 million people.  Optum is dedicated to providing products and services that help make the health care system work better for everyone.  Optum is part of the UnitedHealth Group (NYSE:UNH) family of companies. To learn more about Optum, visit https://www.optumbank.com.

Do I have to do anything to have my HSA transferred to Optum?

You must consent to have your HSA transferred to Optum. You should have received an email with details on how to give us permission to send your existing HSA account balances to Optum.  If you did not receive the email, please notify your local Human Resources contact.

When will my balance be moved?

Your HSA funds transfer process will begin on Wednesday, November 8, 2017, and will be available on your new Optum debit card within three business days. 

Will I be charged a monthly maintenance fee?

No. Donnelley Financial will pay the monthly maintenance fee.

Will my account history be transferred to Optum?

All transactions until the transition date will be available within Alliant Online Banking or on your Alliant account statements. Any transactions made after the transition date will be available within the Optum online portal.

Will my current Alliant HSA debit card stop working? When?

Yes. In order for HSA balances to be transferred, your current HSA card will be deactivated on Sunday, November 5, 2017. 

Will I get a new debit card? When?

Yes. An Optum HSA Card will arrive in the account holder’s name within 7-10 business days from the date you open your HSA at Optum Bank.  You will receive a welcome kit with your new debit card and information about how to access your personalized member portal. 

Who will provide my tax forms for 2017?

You should expect to receive 2017 tax forms from both Alliant and Optum. You will receive both 1099-SA (if you took a distribution) and 5498-SA forms. 

Why is Donnelley Financial not transitioning to HealthEquity?

Donnelley Financial made the decision to transition to Optum instead of HealthEquity.  

What happens to investment accounts? Are they liquidated?

Alliant HSA account holders with investments will be instructed to liquidate their investments no later than October 24, 2017. In the event an investing account holder does not liquidate their investments prior to the liquidation date, their investments will be liquidated and transferred as cash to their new HSA.

Who do I contact with questions about Optum HSAs?

Optum is available at 1-866-234-8913 and can help you through the transfer. Automated information is available 24 hours a day. Customer care professionals are available Monday through Friday, 8:00am to 10:00pm ET; Saturday and Sunday, 9:00am to 5:30pm ET.

Am I still a member of Alliant Credit Union?

Yes, you are still a member of Alliant Credit Union and are eligible to apply for additional products (checking accounts, credit cards, loans, mortgages). Only your HSA product will be transitioned out of Alliant.

What if I don’t want my HSA transferred to Optum?

If you do not want your HSA automatically switched to Optum, you may liquidate your account and move your HSA funds to an HSA custodian of your choice by November 3, 2017, using one the following options:
 

  • Option 1: Request a complete distribution of your HSA funds by completing the HSA withdrawal form. In this case, the funds will be distributed to you and you will be responsible for depositing the funds with your new HSA custodian within 60 days. There may be tax implications. Consult with a tax advisor prior to exercising this distribution method.
  • Option 2: Provide us with a signed  transfer request from the new custodian or trustee to directly transfer your HSA. The request must be submitted on the new custodian’s HSA transfer form. Please send the transfer request to: Alliant Credit Union, c/o HSA Transition, P.O Box 66945, 11545 W. Touhy Avenue, Chicago, IL  60666-0945 or fax to 773-462-8735.

What happens if I do not consent by the November 3 deadline?

You must provide consent by November 3, 2017, to permit Alliant to transfer your current balances to Optum. If you do not submit your consent by November 3, 2017, you will end up with two HSA accounts:
 

If you do not submit your consent by the deadline, your Alliant HSA balance will be transferred effective November 9, 2017, to HealthEquity (the vendor that Alliant has selected to be the custodian of their HSA accounts). 
If you open a HSA account through Optum, future HSA contributions made through payroll deduction will be deposited to a new HSA account at Optum.

Additional questions?

If you are a current or former Donnelley Financial employee with questions not addressed above, please consult the communications that have been sent to you by Human Resources or Benefits, or contact Optum at the number listed above.