This article provides information on the typical time frame for Health Savings Account (HSA) contributions to be available in your employees' accounts, depending on the contribution method used.
Question(s):
How long do HSA contributions typically take to post to my employees' accounts?
Answer:
The time it takes for HSA contributions to post to your employees' accounts depends on how you submit the contributions:
- Direct Deposit: If you use direct deposit, contributions typically post within 1 to 2 business days after you initiate the transaction. The exact timing depends on your bank's processing and ACH transfer times. Once the funds are deposited, they will be available for employees to spend, and employer admins will receive an email detailing the contributions made.
- EDI File or Lively Employer Dashboard: If you send contributions using an EDI file via SFTP, an EDI file uploaded to the Lively employer dashboard, or through HSA payroll management on the Lively employer dashboard, contributions will generally post within 2 to 3 business days of the file processing or payroll confirmation.
Common Issues/Troubleshooting:
- If direct deposit contributions take longer than 2 business days, check with your bank or ACH provider for potential delays.