HSA Custodian definition

HSA Custodian means the person or entity that has been designated by the Plan Sponsor to serve as the custodian or trustee of the HSAs that are (a) established by Participants in conjunction with participation in the Oxy High Deductible Health Plan, and (b) funded through participation in the HSA Contribution Benefit.
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HSA Custodian means Benefit Wallet or its successor.
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Examples of HSA Custodian in a sentence

  • I affirm that all information I have provided is true and correct and may be relied upon by the HSA Administrator and the HSA Custodian.

  • The Trustee or HSA Custodian shall determine the manner of distribution of the Account Beneficiary’s remaining Health Savings Account balance, minus applicable expense or other incurred HSA Medical Expenses not yet paid or reimbursed, either directly to the Account Beneficiary, or other designated beneficiary, or through a direct trustee-to-trustee transfer to another individual or employer Health Savings Account as directed in writing by the Account Beneficiary.

  • The HSA Trustee or other HSA Custodian shall make payment of eligible Health Savings Account claims to the Account Beneficiary, or any Designated Beneficiary, upon the presentation of documentation of such expenses in a manner specified by the HSA Trustee or Custodian of such account and in accordance with the method of benefit payment processes set forth under Article XII, as applicable.

  • The Trustee or HSA Custodian shall make distribution of such amounts to the Account Beneficiary, or any designated beneficiary, as soon as reasonably practicable after the Trustee or Custodian receives the Account Beneficiary’s written distribution request, in accordance with the HSA Trustee or HSA Custodian’s applicable procedures.

  • Funding for HSAs is on a deposit basis and, if elected by the Employer on the Employer Portal, takes the form of an ACH debit that the HSA Custodian initiates against the Employer’s designated account on each day that HSA deposits are reported to or scheduled by the Employer, subject to the terms and conditions of the HSA Custodian.

  • Bend may terminate this agreement if the Employer begins contributing to an HSA Custodian that has not agreed to share information with Bend.

  • The Employer acknowledges that these reports are generated based on information obtained from the HSA Custodian and HSA Participants.

  • The Employer acknowledges that the HSA Custodian’s custodial agreements are solely between the Participant and the HSA Custodian.

  • Bend may limit access to the Platform to a single HSA Custodian that has entered into an agreement with Bend.

  • If you do not complete a transfer to your HSA within 30 days from the date we mail the notice to you, we have the right to transfer your HSA assets to a successor HSA Custodian or Trustee that we choose in our sole discretion, or we may pay your HSA to you in a single sum.

Related to HSA Custodian

  • Sub-Custodian means and include (i) any branch of a “U.S. bank,” as that term is defined in Rule 17f-5 under the 1940 Act, and (ii) any “Eligible Foreign Custodian” having a contract with the Custodian which the Custodian has determined will provide reasonable care of assets of the Fund based on the standards specified in Section 3.3 below. Such contract shall be in writing and shall include provisions that provide: (i) for indemnification or insurance arrangements (or any combination of the foregoing) such that the Fund will be adequately protected against the risk of loss of assets held in accordance with such contract; (ii) that the Foreign Securities will not be subject to any right, charge, security interest, lien or claim of any kind in favor of the Sub-Custodian or its creditors except a claim of payment for their safe custody or administration, in the case of cash deposits, liens or rights in favor of creditors of the Sub-Custodian arising under bankruptcy, insolvency, or similar laws; (iii) that beneficial ownership for the Foreign Securities will be freely transferable without the payment of money or value other than for safe custody or administration; (iv) that adequate records will be maintained identifying the assets as belonging to the Fund or as being held by a third party for the benefit of the Fund; (v) that the Fund’s independent public accountants will be given access to those records or confirmation of the contents of those records; and (vi) that the Fund will receive periodic reports with respect to the safekeeping of the Fund’s assets, including, but not limited to, notification of any transfer to or from a Fund's account or a third party account containing assets held for the benefit of the Fund. Such contract may contain, in lieu of any or all of the provisions specified in (i)-(vi) above, such other provisions that the Custodian determines will provide, in their entirety, the same or a greater level of care and protection for Fund assets as the specified provisions.

  • Repo Custodian shall have the meaning set forth in the preamble of this Agreement.

  • DTC Custodian means the Indenture Trustee as a custodian for DTC.

  • Primary Custodian the meaning set forth in Rule 17f-7(b)(2).

  • ADS Custodian means the person then acting as custodian under the Deposit Agreement. The ADS Custodian as of the Issue Date is The Bank of New York Mellon.