Transitioning an existing plan to a new administrator in the middle of a plan year can seem daunting. That's why Lively will work with you every step of the way to ensure a smooth transition, with minimal disruption to your employees and their benefits.
Once you have decided that you're transitioning to Lively, we will need your help gathering important plan information from your departing provider. Below is a list of the steps to take to get started after you have notified your prior provider of the transition.
Step 1) Blackout Period confirmation:
Speak to your departing provider to confirm if they require a “Blackout Period” to process pending claims and/or debit transactions prior to transitioning to Lively. A Blackout Period is the time between the Service End Date with the prior provider and new Service Start Date with your new provider.
This is standard practice during administrator transitions that may result in a short disruption to benefit availability.
Step 2) Notify your employees:
Notify your employees about the upcoming transition to Lively, informing them of the transition timeline and any temporary interruption of benefit availability. We advise that you communicate:
- The Service End Date with the previous provider
- Duration of the Blackout Period
- The Service Start Date with Lively
Step 3) Conduct an employee enrollment review:
Confirm that all employees are accurately enrolled in the plans and plan years that you wish to transition over.
Step 4) Gather and provide historical Spending and Contribution information:
Gather the year-to-date Spending and Contributions for each employee, plan, and plan year with your previous provider. If it’s not available through your prior provider’s platform or is not readily available for you, you may be able to request assistance from the departing administrator.
After this is collected, please provide Lively the information. We will accept the information from any source you indicate is accurate. The information can be shared via Excel or CSV format.
- For first-day funded plans: Indicate the amount already spent per employee, plan, and plan year.
- [For example: Employee elected a $1,000.00 contribution for the year with the departing provider, and they’ve spent $50.00 to date. Lively will account for the spend to date and will display a remaining balance of $950.00 at the start of the plan with Lively.]
- For plans contributed to over time: Provide details on both past contributions and year-to-date spending for each employee, plan, and plan year.
- [For example: Employee contributed $500.00 to a plan and they’ve spent $50.00 to date. The Lively account will show a balance of $450.00 at the start of the Lively plan.]
Please remain accessible:
After Lively receives this information, we will take it from there! We kindly ask that you remain accessible for any questions from Lively throughout the takeover process, this will help us ensure a timely and frictionless transition.