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In this edition of K-C Benefits Buzz, you’ll find information on the upcoming Health Savings Account (HSA) bank transition, new ID card information and claim filing dates, and payroll updates for 2022.
This issue of K-C Benefits Buzz contains important information. Please take the time to read this issue so you’re ready for the changes ahead in the new year.
In mid-December, your current HSA balance will begin to transition from UMB Bank to an affiliate of Optum Financial. This is the final step in the previously communicated merger of ConnectYourCare (CYC) with Optum Financial that began in July 2021. Although Optum Financial will automatically manage the transfer of your funds and investments (if any) to your new HSA, there is some action required by you.
Read below for more information on important transition phases and dates, including the required blackout period.
Your new Optum Financial HSA is opened.
Your 2022 HSA contributions are deposited into your Optum Financial account.
January 17 - 28
To prepare for the movement of your UMB Bank HSA to Optum Financial, a blackout period will occur. During this time, you'll only have access to any funds contributed to your account in 2022 with HSA On Demand.
After the blackout period, all of your HSA funds will be available in your new Optum Financial HSA.
In connection with the transition to Optum Financial, UMB Bank will no longer be the custodian of funds. The new custodian will be ConnectYourCare, LLC, a subsidiary of Optum Financial.
While your HSA balance is transitioning to the new custodian, your funds contributed prior to 2022 will be temporarily unavailable to spend or invest during a blackout period. The blackout period will begin on January 17, 2022, and is expected to end on January 28, 2022.
Contact Optum Financial at 844-594-1228. Representatives are available 24/7, 365 days a year.
You and your covered dependents will receive a new medical/prescription ID card for 2022, even if there’s no change in your benefit elections. Your new card will combine both your medical and prescription benefits and replace your existing ID cards.
The new ID cards will be mailed in mid-December. If you don’t receive your and your covered dependents’ new cards by January 31, call Anthem. However, you can continue to use your current medical and prescription cards until they arrive.
With the end of the year approaching, we want to remind you of these filing deadlines:
Adoption & Surrogacy Assistance:
FSA and DCSA Expenses & Claims:
As 2021 comes to a close, there are a few payroll updates to be aware of as we head into the new year.
Before the end of the year, It’s important to take action on the following payroll items to ensure your tax forms are processed correctly.
In order to simplify K-C’s U.S. corporate structure, K-C is moving U.S. based employees to a new legal entity called Kimberly-Clark USA, LLC effective January 1, 2022. This new legal entity will become a participating employer in K-C’s Benefit Plans.* As part of this transition, you'll notice a change to your pay statement and future tax forms as follows.
*This document constitutes the Summary of Material of Modification for the purposes of ERISA.
This site is provided to help Kimberly-Clark (K-C) employees better understand their benefit plans. It does not guarantee coverage under a plan and does not provide complete descriptions of K-C benefit plans. K-C reserves the right to change these plans at any time. In all cases, the formal Plan Documents will govern.
If you are an organized hourly employee covered by these plans, see your HR representative or other person designated at your unit for information on how your plan(s) may differ from the information on this site. You may also call the Benefits Information Line at 800-551-2333. Empyrean representatives are available Monday through Friday, 9 a.m. to 5 p.m. ET and Fidelity representatives are available Monday through Friday, 8:30 a.m. to 8:30 p.m. ET. From outside the U.S., dial your country’s toll-free AT&T Direct Access number then enter 800-551-2333.