Understanding the Customer Identification Program (CIP) for HSA Accounts
The Customer Identification Program (CIP) is an important step in opening a Health Savings Account (HSA) with HealthEquity. CIP verifies each member’s identity and must be completed before the HSA account can be accessed for transactions, as required under federal law, and helps protect against fraud.
How Member Identity Is Verified
HealthEquity verifies a member’s identity by checking that the member’s name and Social Security number match, and that either their date of birth or address also matches. This process is designed to be secure and efficient, helping safeguard both employers and employees.
What Happens If a Member Fails CIP?
If a member does not pass CIP, HealthEquity will:
Send an email notification (if an email address is available) requesting additional documentation, such as a driver’s license or utility bill.
If there is no response after 15 days, a follow-up letter will be sent.
Employer Notifications
Employers can monitor the CIP status of their employees at any time by logging into the employer portal. Weekly email updates are also provided for any members who have not yet passed CIP.
Impact on HSA Contributions
Contributions can still be made to an employee’s HSA even if CIP has not been completed. However, these funds will remain unavailable until the member successfully passes CIP. Employers may request that contributed funds be returned at any time if the issue is not resolved.
Access to Member Materials
Members who have not passed CIP will not be able to:
Log in to their online member portal.
Receive HealthEquity welcome materials, including their debit card.
Why CIP Is Required
CIP is a federally mandated process that ensures the identity of all individuals conducting transactions. This protects both employers and employees and helps maintain the integrity of the HSA program.
For more information or to check the CIP status of your employees, please log in to your employer portal. If you have questions about the process, HealthEquity’s support team is available to assist.