What is an HSA and why offer one?
What benefits does an HSA offer?
Offers employees flexibility and savings:
- An HSA is a tax-advantaged, personal savings account used to save and pay for eligible healthcare expenses
- Dedicated bank account for healthcare expenses which never expire
- Triple tax advantage: Tax-free savings, spending on qualified healthcare expenses, and investing
- Designed to complement High Deductible Health Plans (HDHPs)
Benefits of offering an HSA for your business:
- Enhances your benefits package for recruitment and retention.
- Employer contributions count as a tax-deductible business expense.
- Reduces the business’ payroll taxes per employee, per paycheck.
- Saves on healthcare premiums due to the lower premiums rates of HDHPs.
Effortless, smart administration
Easy enrollment and contributions
Quickly set up and fund employee HSAs, while counting on a dedicated onboarding specialist to provide guidance along the way. Our technology helps admins easily manage program enrollment and contributions via the dashboard, secure files, or third-party integrations.
Smart features to simplify admin tasks
Timely notifications and reminders help admins stay on top of their day-to-day. You can lean on features such as Secure File Transfer (SFTP), Starter Penny, and Employer Match to take care of your people with ease. Plus, make informed decisions about your HSA program with robust reports in your dashboard.
Ongoing employee engagement, education, and support
We take the burden off of admins by continuously engaging employees with a wide range of resources and tools to help them understand the value of their HSA and how to use it best. And we don’t bounce employees around call centers, employees can easily get in touch with member support experts who always go the extra mile.
User-friendly design and robust features
Employees can effortlessly adopt Lively benefits and stay on top of their accounts with easy-to-use, modern technology.
Lively platform and account holder mobile app
Our proprietary technology is powerful and dependable. Administrators can leave clunky systems behind and enjoy a streamlined, intuitive experience that puts them and their employees in control of their benefits.
Key features for employees
Designed to maximize HSA usage.
- Expense Scout: Automatically looks for eligible expenses in linked bank accounts and cards to flag transactions employees may have missed.
- Claim Sync: Easily track and reimburse eligible claims from the employee’s health insurance plan—all from within a centralized dashboard in the Lively platform.
- Deductible Tracker: Employees never have to wonder if they have hit their deductible or out-of-pocket max again.
Personalized HSA investing made easy
Tax-advantaged investing is one the most attractive features of an HSA. BMO HSA, delivered by Lively offers:
- Two industry-leading investment options tailored to employees’ investing comfort and financial goals.
- First-dollar investing option with no minimum requirement to start investing.
- Portfolio performance tracking and monitoring right from the Lively dashboard.
It’s easy to get started
Your first 30 days with Lively
Get up and running in weeks, not months.
Lively goes the extra mile to help employers have a timely and seamless onboarding experience.
Step 1: Employer sign up and enrollment
Step 2: Sync your payroll information
Step 3: Kick-off call with dedicated Customer Success team
Step 4: Enroll employees
Step 5: Manage your HSA with our online dashboard
Step 6: First funding
Timeline may vary when working with third parties. Most onboarding is completed within 30 calendar days.
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