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 Lively platform 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 through the Lively platform:
- Log into your Benefits Administrator Lively account
- Navigate to the “Employees” tab
- Search for the employee you wish to terminate > Select that employee. This will show an Employee details page for that specific employee
- Select "Action(s)" in upper right corner > choose 'Edit details'
- Fill out the appropriate information and edit 'Employee status' > select 'Terminated' from the drop down menu
- Follow the prompts to enter terminational details
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 regarding their Lively HSA conversion from an employer-sponsored account to an individual account.
Updated: