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Moving Forward With Your HSA
When you leave your company, your company’s HSA program, or your employer decides to leave Tango, you
become responsible for the Tango Health account fees that your employer currently covers.
Important Points
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The money in your HSA is yours to keep. You can continue to use it for health expenses.
There is a $4 monthly fee to continue using your Optum Bank HSA with Tango Health.
By default, your account at Tango and Optum Bank will remain open. The fee will be deducted from
your balance. If you wish to avoid these fees you will need to move your funds and/or close your
account with both Optum Bank and Tango Health.
You might want to change your email to a personal email in case your work one is no longer active.
If You Have a Zero Dollar Balance
You will need to close your account with both Optum Bank and Tango Health. You can do this by calling 1866-234-8913. This will close both your Optum Bank account and your Tango profile.
If You Have a Balance Greater than Zero Dollars
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You can continue using Tango Health with Optum Bank:
You will be charged a $4 monthly fee. By default, both your Tango profile and the Optum HSA will
remain open. The fee will be automatically deducted from your HSA account balance each month.
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You can stop using Tango but keep your Optum Bank account:
You must call Tango Health at 1-866-384-8549 and state that you would like to delete your Tango
Health profile. After we confirm your identity we will delete your Tango profile. Your monthly fee
will be determined by the type of account you have and will be automatically deducted from your
account. You will no longer have access to your information in Tango.
You can stop using Optum Bank:
You will need to complete a rollover form to move your money to another bank. If you simply
withdraw the funds and they are disbursed directly to you, it will count as a withdrawal and could be
subject to normal taxes as well as a 20% penalty tax. Closing your Optum Bank account will also
close your Tango account.
TangoHealth.com | 866-384-8549 Servicing | 512-291-7177 Fax
Copyright 2013 Tango Health®
MA X I MI Z E H S A U S A G E .
MAXIMIZE TAX SAVINGS.
TangoHealth.com | 866-384-8549 Servicing | 512-291-7177 Fax
Possible Concerns
What happens to all my history if I stop using Tango?
Once the account is closed, you will no longer have access to the HSA history in Tango. You can
download this history for your safekeeping before the account is closed.
Before the Tango service is discontinued, log into your Tango account (https://hsa.tangohealth.com)
and print out your journal data and receipts. Access the journal entries by clicking on “Report and
Review Expenses” on the home page.
Next click on “Filter Expense List” to select your data range (by calendar year is recommended) and
click on “Download Expenses”. Repeat as needed to capture each year the service was used.
What do I lose by not having Tango Health?
Tango’s Flex Reserve and record keeping are the primary tools that are not found with other servicers.
There are numerous advantages to continuing with Tango:
 Access to patented HSA management software featuring health expense identification and
recording, Health Spending Journal, and auto-sweep HSA reimbursement facilitating $0 accounts
 Credit card registration which includes identification of qualifying transactions
 Receipt storage for the life of the Tango Health HSA account
 Unlimited money transfers out of the account
 Access to Tango’s five-star Client Servicing phone and email support
Are there custodians that do not charge a fee?
Monthly maintenance fees are very common for HSAs. Still, it is likely that you would be able to find a
custodian that does not charge a fee but with minimal support and software.
How do I move my money to a different custodian?
The steps for transferring funds to a new custodian may vary by custodian. In general, you must first
open an account with a new HSA custodian. Once you have done this, you must fill out a rollover form
that your new custodian provides. Some custodians have a form for rolling over funds and opening an
account at the same time. Once you have filled out one of those forms, you will submit the form to your
new custodian. This custodian will then send it to Optum Bank. When Optum Bank receives this form
they will first freeze the account to assure there is no pending activity. Once all pending activity clears, a
check will be mailed to your new custodian. You will not have access to the money from the time
Optum Bank receives the rollover request, until it reaches your new account. You will also lose access to
Tango Health when your account at Optum Bank is closed.
TangoHealth.com | 866-384-8549 Servicing | 512-291-7177 Fax
Copyright 2013 Tango Health®
MA X I MI Z E H S A U S A G E .
MAXIMIZE TAX SAVINGS.
TangoHealth.com | 866-384-8549 Servicing | 512-291-7177 Fax
TangoHealth.com | 866-384-8549 Servicing | 512-291-7177 Fax
Copyright 2013 Tango Health®