Lively has updated our Direct Deposit capabilities for employers to provide them with more robust reporting to allow them to better track their employee’s contributions. Please find details below.
Account Numbers
Where can I find account numbers?
Employee Enrollment Report, found under the Reports section. You will find two new account numbers per employee. They are going to be labeled the following:
- EE Account Number: The account number for a given employee which will be used to make pre-tax, employee contributions.
- ER Account Number: The account number for a given employee which will be used to make post-tax, employer contributions.
Will the old account numbers still work if I enable this?
Yes, there will be no impact to the account numbers currently being used.
Will the routing number change?
No, the routing number will stay the same.
Reporting
What reporting is available and how can I access it?
Your Dashboard Reporting will be updated on your Overview page and on the Employee’s profile.
Under Funding, the Historical Transactions section will contain all Direct Deposits that were sent and will break them out by day. You are able to download a full report by clicking the three dots under the Action column for the transaction day you wish to view.
Your Contribution Details and Year-to-Date Report will provide you with all of the details per employee for these contributions. Contribution Details Report example:
Email Notifications
When are email notifications sent?
It will be sent daily based on Contributions received that day. If your employer only sends contributions once every two weeks, they can expect to receive the email once every two weeks on the day they send over the contributions.
Other FAQs
Can the Direct Deposit contribution be rejected? If so, what would cause that?
Yes, here are the three main reasons why it would be rejected:
- Near IRS Limit: If an employee's total contributions for a given tax year are approaching the IRS limit, any direct deposit that would push them over this limit will be rejected.
- Closed Account: Any contribution aimed at a closed HSA account will be automatically rejected.
- Debits: Any attempt to debit an HSA using either account and routing number for a given employee will be automatically rejected.