Lively offers varying degrees of flexibility for contribution schedules depending on the specific account type and how the benefit is administered.
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HSA (Health Savings Account)
You can fully customize the contribution frequency for HSAs using Lively's system. The method depends on how you manage your funding:
Dashboard Payroll Management: if you use the dashboard’s payroll feature, you can configure a custom payroll schedule to generate contributions exactly when you need them.
File Submission: if you manage contributions via file submission, you can send files on any schedule you choose. Lively will process them immediately as instructed.
Direct Deposit: contributions funded via direct deposit are processed as soon as they are received, giving you the freedom to initiate transfers on your own schedule.
FSA and MTA (Flexible Spending & Medical Travel Account)
For these account types, the full benefit amount must be available to the employee on the first day of the plan year. Therefore, you cannot customize the contribution schedule in Lively's system.
DCFSA (Dependent Care FSA)
Similar to HSAs, you can fully customize the contribution frequency for Dependent Care FSAs:
Assumed Deductions: if you use the employer dashboard’s assumed deduction feature, you can customize the posting schedule to match your organization's specific payroll dates.
File Submission: if you manage contributions via file submission, you may send them on any schedule, and Lively will process them as instructed.
HRA and LSA (Health Reimbursement Arrangement & Lifestyle Spending Account)
Customization for these accounts depends on how your specific benefit plan is designed:
Pre-funded Plans: if the full benefit amount is made available to employees on the first day of the plan year, you cannot customize the contribution frequency in Lively’s system.
File-based Management: if you manage balances via contribution files, you can submit files on any schedule, and Lively will process them accordingly.
Commuter Accounts
Customization for Commuter benefits depends on how the election process is managed:
Lively-managed Elections: if Lively manages the election process, contributions are made on a monthly basis, and the frequency cannot be customized.
File-based Management: if you manage the commuter account balances via contribution files, you can submit them on any schedule you choose, and Lively will process them accordingly.
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