[This is the second article in this week’s 3-part series from the Benefits Team on updating your beneficiaries for your UCOR benefits.]
Annual Enrollment for 2027 benefits is right around the corner, so now is the perfect time to review your beneficiaries. Your life insurance options aren’t the only benefits that require beneficiary designations.
Attention employees enrolled in the HSA CDHP medical plan: Please review and update, if necessary, your Health Savings Account (HSA) beneficiaries with HSA Bank.
Why Your HSA Beneficiary Matters
Unlike a Flexible Spending Account (FSA), your Health Savings Account (HSA) is an individually owned bank account. All contributions made by you and UCOR—plus any investment earnings—belong to you permanently and roll over year after year.
Designating a beneficiary for your HSA lets you decide where remaining funds go after you pass away. If you are married, live in a community property state, would like to leave your account to an estate, or want to designate a non-spouse primary beneficiary, you must submit your HSA beneficiaries with HSA Bank.
How to Update Your Beneficiaries in HSA Bank
All HSA beneficiary designations and allocations are managed directly through HSA Bank. First, start by logging into your profile. If you have not already done so, you will have to register your account by going to HSA Bank and clicking on Set Up Account.
- Once you are logged in, navigate to the menu and select Settings.
- Once there, scroll down to click the triangle beside HSA Info to expand that section.
- Click on Beneficiaries. Here is where you can add and/or update Authorized Signers and Beneficiaries.
- You can add your beneficiaries directly within your profile there, or by submitting an HSA Designation of Beneficiary Form.
- Review the beneficiary you just added, then Save.
Important Reminder: 2027 Annual Benefits Enrollment for all eligible UCOR employees will be held from Oct. 26 through Nov. 6 for coverages that will be effective Jan. 1, 2027.
Questions? Contact the UCOR Benefits Department at Benefits@orcc.doe.gov. You can also contact HSA Bank Customer Support by calling 800-357-6246.
