You should terminate an employee as soon as they are no longer with the company, or they are no longer on an HSA eligible plan.
Depending on your enrollment management configuration, you can terminate employees directly in the employer Dashboard, or provide the information via a third-party or in Lively's specified file format. Terminations are processed on the termination date or immediately if the termination date is in the past.
To terminate employees in the Dashboard:
- Log into your Employer Dashboard and navigate to the “Employees” tab.
- Select the employee that you wish to terminate by searching their name, and clicking on their profile.
- In the top right-hand corner of the employee page, click the button that says “Terminate”.
- Fill out the appropriate information, termination date, reason, and new email if applicable.
Given that health savings accounts are individually-owned savings accounts for life, the terminated employee will still have full access to their HSA as an individual account holder with Lively. We will send the terminated employee what they need to know about their Lively HSA being converted from an employee account to an individual account as part of this process.