To maintain accurate records, you should terminate an employee's profile as soon as they leave the company or are no longer enrolled in an HSA-eligible plan. Depending on your enrollment management configuration, you can handle this via file upload or through the Lively dashboard. Terminations are processed on the termination date or immediately if the termination date is in the past.
To terminate employees through the Lively platform:
- Log into your Benefits Administrator Lively account
- Navigate to the “Employees” tab
- Search for the employee you wish to terminate and select that employee. This will show an Employee details page for that specific employee
- Select "Action(s)" in upper right corner, then choose "Edit details"
- Fill out the appropriate information and edit "Employee status" to "Terminated" using the drop down menu
- Follow the prompts to enter terminational details
Because Health Savings Accounts are individually owned, the employee retains full access to their account even after leaving your plan. Once you input the termination, Lively handles the administrative transition. We will automatically convert their profile to an individual account and send them all necessary communications regarding their ongoing access and benefits.
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