Learn more about the transition from Navia to Health Equity

Timeline for transferring funds from Navia to Health Equity

If you had an active 2022 Health Savings Account with Navia through UMB Bank, Marvell will oversee the transition of funds to your Health Equity account. Employees will need to grant Marvell permission to transfer their account on their behalf. To grant Marvell permission, UMB will insert a link within your Navia account for you to complete.

Important Dates and Transition Timeline:

Frequently Asked Questions

 Please see below for common frequently asked questions about the transition. You can find additional FAQs on our FAQ for Marvell's Health Savings Account Transition to Health Equity document. 

I was enrolled in the HSA plan with Navia in 2022, will the Navia HSA card still work?

Yes, the Navia HSA card will work until the blackout period begins on March 24, 2023.

Can I keep my HSA funds in Navia?

Yes, if employees wish to keep their funds with Navia, they can do so. However, their accounts will be moved to an individual account with UMB Bank and no longer associated with Marvell. Employees will be responsible for the monthly administration fee.

Do I have to liquidate stocks and turn off auto investments to transfer my account from Navia to Health Equity?

Yes, if you would like Marvell to manage the transition of funds from Navia to Health Equity, liquidation of stocks and turning off auto-investments must be completed by March 14, 2023. This is mandated by UMB Bank. Additional steps on how to liquidate stocks and turn off auto investments can be found on the attached document.

Are there any fees associated with this transition process?

Marvell will cover fees associated with the HSA transition for those employees who sign the electronic form by March 3 granting Marvell permission to transfer accounts on their behalf. That is, we will cover the administration fee for both Navia and Health Equity accounts as well as the $25 transfer fee. Please note, if you decide to move your account on your own, and/or at a later date, you will be responsible to cover the $25 transfer fee.

How do I access the Health Equity portal?

SSO login via OKTA to Health Equity will be available in early March 2023. In the meantime, employees can access their Health Equity account directly by registering through the Health Equity website at my.healthequity.com. 

• IMPORTANT NOTE: You are automatically set up to receive paper statements and will be charged $1.00 per monthly statement. To avoid this fee, we recommend that you switch your account preference settings to electronic statements. You can do this by logging into the Member Portal and updating your profile, or by calling Member Services at 866.346.5800

How to Grant Marvell Permission to Transfer you HSA from Navia to Health Equity - Closed

**This step is now closed as the deadline was Friday March 3, 2023. If you missed this step and would like to still transfer your HSA funds from Navia to Health Equity, please complete the Transfer Request Form with Health Equity to initiate this process. 

Please note, this is open from February 21, 2023 - March 3, 2023. If you fail to complete this step, Marvell will not be able to oversee the transferring of your HSA from Navia to Health Equity. You will be responsible for completing the transfer separately and directly with Health Equity.   

How to Liquidate Investments within Navia - Closed

**This step is now closed as the deadline was Friday March 3, 2023. If you missed this step and would like to still transfer your HSA funds from Navia to Health Equity, please complete the Transfer Request Form with Health Equity to initiate this process. 

Please note the deadline to complete this is March 14, 2023. If you fail to complete this step, Marvell will not be able to oversee the transferring of your HSA from Navia to Health Equity. You will be responsible for completing the transfer separately and directly with Health Equity.  

Missed Marvell's Bulk Transfer? Learn How You Can Transition Your HSA from Navia/UMB Bank to Health Equity

If you missed Marvell's bulk transfer, you can still initiate a transition from Navia/UMB Bank to Health Equity. 

Complete Health Equity's Transfer Request Form and return it to Health Equity. Instructions on how to return the form is in the top left corner. Once Health Equity receives your completed form, they will partner with Navia/UMB Bank to finish the transfer. 

Part II - Transfer information on Health Equity Transfer Request Form:
Name: UMB Bank
Address: PO BOX 161238, Altamonte Springs, FL 32716
Fax: 1-844-560-6761
Phone: 1- 844-383-9826

Keep in mind your individual transition will be the same as Marvell's process.

• This will take 6-8 weeks to complete. 
• You will have to liquidate investments and turn off auto-investment notices. 
• A $25 closer/transfer fee will be applicable.
• You will have a blackout period of 1- 2 weeks toward the end of the process, as the money is transferred from Navia/UMB Bank to Health Equity.

Once you initiate the process, you can contact Health Equity directly for updates. Marvell will not have insight to individual transfers. You can connect with Health Equity by calling (866) 296-2852. 

Eligibility

To be eligible for the HSA:

• You must be covered by a qualified high-deductible health plan (HDHP).
• You cannot be covered by another health plan, including Medicare.
• You cannot be claimed as a dependent on another individual’s tax return.
• You and your spouse cannot be participating in a full-purpose Flexible Spending Account.

Contributions

Marvell’s Contributions

Marvell contributes each January to your HSA:

• $600 for employee-only coverage
• $1,200 for family coverage (includes the Employee + Spouse, Employee + Children, and Employee + Family coverage levels)

New hires receive their HSA contribution within a few weeks of making their benefits elections.

Your Contributions

In 2023, you can contribute up to the IRS maximum (includes employer contributions):

*Employees ages 55 or older can contribute an additional $1,000 to their HSA.

The amount you elect to contribute will be divided by the number of paychecks remaining in the calendar year.

Updating Your Contributions

You can update your HSA election at any time (no qualifying life event required) by going to the Benefits Enrollment system, clicking Update by Benefits and selecting the “Change of HSA Contribution” life event.

Account Growth

Your HSA grows through:

• Contributions made by Marvell
• Optional contributions made by you
• Rollovers from any existing HSAs you have (see “Roll Over an Existing HSA to the Marvell HSA” below)
• Interest and investment earnings

Investing Your HSA

Once you have a balance of $500, you can begin investing your HSA balance in a variety of ways, similar to the 401(k) Plan. Your HSA investment earnings grow tax-free, and withdrawals for eligible expenses are also tax-free. You do not need to maintain a minimum balance of $500 in your HSA to continue to invest your HSA funds.

Learn more about about Health Equity Investment options. 

Tax Advantages

• You pay no federal taxes or state taxes* on your HSA contributions when they go into your account, reducing your taxable income.
• You pay no taxes* when you use your HSA funds to pay for eligible expenses.
• Any interest and investment earnings grow tax-free.*

*Note: Contributions to HSAs may be subject to state taxes in California, Alabama and New Jersey.

No Use-It-or-Lose-It Rules

Unlike a Health Care FSA, your HSA balance carries over from year to year. Plus, you take it with you if you retire or leave Marvell.

Eligible Expenses

You choose how and when you want to use your HSA funds for eligible health care out-of-pocket expenses. Eligible expenses include your and your dependents’ deductibles, coinsurance and copays for medical, prescription drug, dental, vision and hearing expenses.

You can use your HSA to reimburse eligible expenses for yourself, your spouse and your dependents, as long as your spouse and dependents do not file separate tax returns. Your spouse and dependents do not need to be enrolled under your medical plan for their expenses to be considered eligible.

Roll Over an Existing HSA to the Marvell HSA

If you want to roll over an account that you have with a previous employer, download the HealthEquity transfer form.

The IRS does not allow rollovers from an HSA to a 401(k) or IRA, and you cannot roll over funds from a 401(k) to an HSA.

Yours to Keep

HSA balances go with you, regardless of whether you stop contributing, retire or leave your job. The dollars in your account are never taxed if they’re withdrawn for qualified health expenses. If funds are withdrawn to pay for non-qualified medical expenses before age 65, they are taxed, and an additional 20% penalty is applied. After age 65, funds can be withdrawn without a penalty, but income tax will be owed if funds are not used for qualified health expenses.

If you leave Marvell or are no longer enrolled in the Marvell Anthem HDHP, your HSA and funds will remain yours, but the account will be converted into an individual account at HealthEquity. You will continue to use the same HSA card and login information for the Health Equity portal. You’ll be required to pay a monthly administrative fee of $3.95. You may choose to roll over your funds to an administrator of your choice. Contact your new administrator for a rollover form and instructions.

Getting Started with the HSA

After you’ve enrolled in the HDHP, register your HSA with HealthEquity so you can manage your account. 

First Time Member Login Protocol

1. Navigate to the member portal at My.HealthEquity.com.
2. Click 'Create user name and password' located under the message 'Are you a member logging in for the first time?'
3. Enter the verification code that appears on the screen.
4. Add personal information (first name, last name, zip code, and birth date) and click 'Next.'
5. Enter the last four digits of the account holder's social security number and the last four digits of their debit card number.
   • After entering the card number correctly,  you can set up the account. Skip 6-10.
   • Otherwise, leave that field blank and click 'Next.'
6. Enter a phone number for verification, select 'Text Me' or 'Call Me' and then click 'Next.'
7. They will receive a call or text with a temporary password. Enter the password and click 'Next.'
   • After entering the passcode correctly, then they can set up the account. Skip 8-10
8. If they cannot verify the phone number, click 'I don't have a phone.' A popup message will appear stating that additional questions are required. Click 'Answer questions.'
9. You will be asked a few questions (usually three or four) on subjects such as:
   • Vehicle ownership history
   • Education history
   • Job history
10. After answering these questions, you can then set-up an account

Setting up Account

1. Choose a username, password, and security question and then click 'Next.'
2. Enter the email address and click 'Next.'
3. You will receive an email with a unique link. Click the link to activate the account.
4. Review the terms and conditions and then accept.
5. Once these steps are complete, you can log in to the portal with your username and password.

Already have a Health Equity HSA  from your previous employer? 

If you have a HEalth Equity account from a previous employer, your Marvell account will be linked to that account. Your username and password will remain the same as before and you can continue to use the same HSA card. If you need help logging in or requesting cards, you can call the HEalth Equity member services at (866) 296-2852.

For compliance with the Customer Identification Program rules under the USA PATRIOT Act, you may be asked to provide proof of identity to open an HSA.

Note: IRS rules specify that if you enroll in the HDHP with an effective date of December 3 or later, you cannot contribute to your HSA and you are not eligible for an employer contribution until January 1 of the following calendar year.

Paying for Eligible Expenses

Before you can use your HSA to pay for eligible expenses, you must accumulate enough funds in your account to pay for those eligible expenses. As your balance grows, you can choose when and how to use the funds in your account for qualified expenses.

Log in to my.healthequity.com to manage your eligible expenses and transactions. You can even upload copies of your receipts.

There are no filing deadlines. As long as the expenses were qualified and incurred after the date the HSA was opened, you can withdraw the funds from your HSA at any time this year or in the future.

Keep your receipts. You should save your receipts for tax purposes, even though you don’t need to submit receipts when you’re reimbursing yourself with your HSA dollars. If requested by the IRS, you are responsible for providing documentation for the expenses charged to your HSA.

HSA vs FSA - What's the Difference?

The funds you contribute toward an HSA roll over from year to year—the money is yours to invest and grow pre-tax to help you save for expenses in retirement. You must be enrolled in the Marvell Anthem HDHP to enroll in the Marvell HSA with HealthEquity.

When you contribute to a Flexible Spending Account (FSA), the money must be used within the calendar year and does not roll over. You cannot enroll in a Health Care FSA if you’re contributing to an HSA. However, you can still enroll in a Day Care FSA and a Limited Health Care FSA if you’re contributing to an HSA. 

IRS Tax Related Information

You’re responsible for taxes owed should your HSA contributions exceed the IRS annual limit. While the IRS guidelines allow you to fund an HSA for medical expenses on a pre-tax basis, not all states are required to comply. Alabama, California and New Jersey have not enacted legislation to allow pre-tax treatment of HSA contributions or earnings for state taxes. If you reside in one of these states, additional state taxes may apply.

To ensure compliance with Internal Revenue Service Circular 230, we inform you that any U.S. federal tax advice contained in these web pages and the account agreements are not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code or promoting, marketing or recommending to another party any tax-related matters addressed herein.

Domestic partners and a domestic partner’s children can be covered under your HDHP with HSA plan. However, the use of your HSA is regulated by the IRS; therefore, expenses incurred for your domestic partner and/or your domestic partner’s children are not eligible for reimbursement from your HSA unless they are tax-qualified dependents, as defined by the IRS. Your domestic partner can open and contribute to their own HSA bank account and can use those contributions to pay for their own medical expenses.

Please see IRS Publication 969 for more information on your HSA plan.