The availability of funds varies depending on the specific benefit account type, your plan design, and the method used to manage contributions.
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FSA and MTA (Flexible Spending & Medical Travel)
For these account types, the full annual election or benefit amount is available to the employee on the first day of the plan year, regardless of how much has been contributed via payroll to date.
HRA & LSA (Health Reimbursement & Lifestyle Spending)
Fund availability for these accounts depends on how your specific program is administered. The full benefit amount is available on the first day of the plan year unless:
If you manage balances via contribution files, funds become available immediately after the contribution file is processed.
DCFSA (Dependent Care FSA)
Funds accrue and become available only after they have been deducted from payroll.
Dashboard Managed: If you manage contributions via your Lively dashboard, funds become available according to the set payroll schedule.
File Managed: If you manage contributions via file, funds become available when the contribution files are sent and processed.
Commuter Accounts
Availability for parking and transit benefits depends on how the elections are managed:
Lively-Managed Elections: Funds are available on the first of each month for which the employee or employer has elected to contribute.
File-Managed Elections: If elections are managed outside of Lively and reported via a contribution file, funds will be available within 2-3 business days after the file is successfully processed.
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