Savings and Spending Accounts Transition

• For 2024, Okta’s HSA contribution will be:
  • Up to $800 for employee-only coverage.
  • Up to $1,600 for family coverage. 
    As a reminder, Okta’s HSA contributions are funded per paycheck. This means you’ll receive $30.77 per paycheck for employee-only coverage and $61.54 per paycheck for family coverage.
• Your 2024 HSA contributions and Okta’s contributions will be deposited into your Fidelity HSA, beginning with your January 12, 2024 paycheck.
• You will receive a Fidelity debit card in the mail that can be used for your HSA.  
• You can make your own pre-tax contributions through payroll deduction but you cannot exceed the IRS limits, which also includes the employer contribution. For 2024 the IRS limits are:
  • Up to $4,150 for employee-only coverage.
  • Up to $8,300 for family coverage.
  • You can also make an additional $1,000 catch-up if you are age 55 or older.
• If you choose to transfer your current HSA balance, as part of the bulk transfer process, from Forma to Fidelity, those funds are anticipated to be available in your Fidelity account around March 7.
  • If you have an existing open Fidelity retail HSA and are continuing the HDHP for 2024, your retail HSA will convert to an Okta HSA once Fidelity receives Okta’s enrollment file, and the funds will be deposited there and viewable in NetBenefits.com. In the case that your retail Fidelity account is not active or requires additional information, you will need to work with Fidelity to get your account reopened to ensure you don’t have multiple HSAs with Fidelity.
  • If you have an existing open Fidelity retail HSA and are not continuing the HDHP for 2024, you will not be able to be a part of the bulk transfer, but can initiate an individual transfer to move these funds to your Fidelity retail HSA, which you will access via Fidelity.com (not NetBenefits). Please note that you will be responsible for the $25 account closure fee from Forma. 
• If you choose to keep your 2023 HSA balance with Forma, you will maintain ownership of that account and will take on any applicable monthly fees should they become applicable in the future.

• Starting in January, you can access your HSA through Fidelity’s NetBenefits portal. Once your account is set up, you’ll receive your HSA card in the mail, which is the easiest form of payment for any future eligible expenses.
• If you are not using a Fidelity HSA card, you’ll be able to submit any eligible expenses for reimbursement through Fidelity’s NetBenefits portal.
• If you choose to keep your 2023 HSA balance with Forma, no additional action is needed.
• You can access your active Forma account and/or balance through Forma’s website or app. You can continue to access funds up through the bulk transfer date, should you opt in, or ongoing while the account remains active and has funds.

• If you are enrolled in an HDHP + HSA plan for 2024, you will receive a notice through the Fidelity NetBenefits portal asking if you would like to be part of the “bulk transfer” process in January. The bulk transfer process will allow Fidelity to move your Forma funds to your new Fidelity account. You must accept this e-consent in the Fidelity NetBenefits portal to be a part of the bulk transfer.
  • If you do not elect to opt-in to this bulk transfer, you are able to transfer your balance to Fidelity at any time, however, you will be responsible for paying the Forma $25 account closure fee.
  • Please be advised that only account balances with more than $25 are eligible for the bulk transfer.
• If you are not enrolled in an HDHP + HSA plan for 2024 but have an HSA balance with Forma, you will not be able to be a part of the bulk transfer rollover to Fidelity. You will still have access to your HSA through Forma and will be responsible for paying any monthly administration fees should they become applicable. Contact Fidelity for assistance to transfer your funds to an individual HSA, if desired.

This only applies if you will be part of the bulk transfer and are moving your Forma HSA funds to Fidelity.

For more information about your HSA with Forma, including eligible expenses and investment options:

• Review these frequently asked questions (FAQs).
• Visit the Forma employee portal and log in using your Okta email address.
• Email support@joinforma.com or call 844-902-2902.

For more information about your HSA with Fidelity, effective January 1, 2024, including how to sign up:

• Review the Fidelity HSA guide.
• Visit Fidelity’s NetBenefits Portal and log in using your 401(k) credentials.
• Call 800-544-3716 for any additional support.

• You can contribute up to the following IRS limits in 2024:
  • $3,050 for the healthcare and limited purpose FSAs.
  • $5,000 for the dependent care FSA ($2,500 if you’re married and file taxes separately).
• You will receive a HealthEquity debit card in the mail that will be used for all the HCFSA and LPFSA.
• You will have until March 31, 2024 to submit eligible 2023 HCFSA and LPFSA claims for reimbursements through Forma.
• You will have until March 31, 2024 to submit eligible DCFSA claims for reimbursement through Forma. These claims must be incurred before March 15, 2024.
• After March 31, 2024, any unused 2023 reimbursements for the HCFSA and LPFSA only, and with a minimum balance of $25, up to $610, will rollover to your HealthEquity account.
• Amounts more than $610 will be forfeited. Any remaining DCFSA balances will also be forfeited as they are not eligible for carryover.

• To submit eligible claims to Forma for reimbursement through March 31, 2024, visit the Forma app on your Okta Dashboard. Here, you can snap a photo of your claim and submit it for reimbursement through your phone. You can also visit Forma’s website.
• Starting January 2024, if you elected to participate in an FSA during Open Enrollment in Workday, you can set up your FSA account through the HealthEquity employee portal, and start submitting 2024 eligible claims for reimbursement. 

For more information on your 2023 FSA through Forma:

• Visit Forma Employee Portal and log in using your Okta email address.

For more information on your 2024 FSA with HealthEquity, effective January 1, 2024, including how to sign up:

• Review the HealthEquity HCFSA guide, LPFSA Guide, or DCFSA guide.
• Review the HealthEquity qualified medical expenses page.
• Visit the HealthEquity employee portal (the earliest you can do this is in December), and click on the Create Username and Password link and follow the prompts.
• You can also email member services or call 877-924-3967. 

• For 2024, you can contribute up to $300 per month pre-tax for public transportation and/or up to $300 for parking expenses.
• The deadline for the last commuter benefits order with Forma will be November 10, 2023.
• You can enroll in your first commuter benefits order with HealthEquity for funds accessible in January as early as November 13, 2023. The deadline to enroll is December 10, 2023.
• If you have any unused Forma funds by December 31, 2023, they will roll over to HealthEquity and will be accessible early next year.
• You will receive a HealthEquity commuter debit card if you enroll in commuter benefits. You can choose to have a transit pass delivered to your home address, load your Smartcard, sign up for Pay Me Back parking or the Pay My Provider option.

• If you would like to place a commuter benefits order for December, you must do so before November 10, 2023 on Forma’s website. This is the last commuter benefits order you’ll place through Forma.
• Future commuter benefits orders will be placed through HealthEquity. You must place your first commuter benefits order with HealthEquity by December 10, 2023, for funds accessible in January.
  • You will be able to access the HealthEquity employee portal to register and place your order for January 2024.
  • To get started, register online and place a commuter order by going to the HealthEquity empoyee portal. Hover over the “Login” button; then select “WageWorks”, “Employee Login”, and “Register”.  You will need to answer a few simple questions and create a username and password. When asked for your ID number, you will provide the last four digits of your SSN.
  • Once you have registered and set up your username and password, you can select Place Transit Order or Place Parking Order to get started.

For questions on your commuter benefits account through Forma:

• Visit Forma’s employee portal and hover over the “Login” button; then select “WageWorks”, “Employee Login”, and “Register”.  You will need to answer a few simple questions and create a username and password. When asked for your ID number, you will provide the last four digits of your SSN.
• You can also email member services for support or call 844-902-2902.

For information about your commuter benefits account through HealthEquity, including how to place an order for January:

• Review the HealthEquity commuter guide.
• Visit the HealthEquity employee portal and log in using your Okta email address.
• You can also email member services or call 877-924-3967.