Simplify HSA administration to save time and money
Save up to 20% on healthcare premiums with a cost-efficient High Deductible Health Plan (HDHP) combined with a Health Savings Account (HSA), providing employees a personalized, lifelong account for healthcare expenses and offering a triple tax advantage.
You and your employees both save on payroll taxes with each HSA contribution—employees enjoy tax-free contributions, spending, and growth, while you benefit from a 7.65% payroll tax savings on every dollar they contribute.
Meet the rising expectations of current and prospective employees by offering a competitive benefits package that includes a Health Savings Account (HSA) with triple tax advantages, lower monthly premiums, and greater flexibility for managing rising healthcare costs.
Dashboard with On-Demand Reporting Efficiently manage employee HSAs with Lively's paperless dashboard, where you can add or remove accounts, update and schedule contributions, and access curated, on-demand reports. Gain valuable insights into employee engagement and evaluate the performance of your benefits program—all from one easy-to-use platform.
Benefit from year-round support with a dedicated customer success team that proactively engages both you and your employees, along with a readily available customer support team to address any account-related questions and aid in HSA success.
Lively offers a comprehensive suite of resources to educate your employees on maximizing their HSA contributions and savings potential, empowering them to fully leverage the benefits of their account. We’re here as a go-to resource, so you don’t have to be.
Businesses: $2.95 per participant, per month
This may vary depending on the number of enrolled employees or preferred pricing. No minimum opening balance required.
Minimum Daily Balance to Earn Interest: $0.01
Employee Optional Fees:
Contributions into the account are made pretax, and payments for qualified expenses are made without penalty.
Unused funds roll over year to year and are always theirs, even if they switch jobs, become unemployed, or retire.
Employees can take advantage of tax-free investing. Stocks, bonds, ETFs, and mutual funds are all available through the Midland HSA, Powered by Lively.
They’ll have access to a robust online or mobile banking experience alongside an HSA debit card to pay for qualifying medical and prescription expenses.
Standard pricing is $2.95 per participant per month. This may vary depending on the number of enrolled employees or preferred pricing.
Lively offers two industry-leading solutions to help employees build toward their financial goals, both with the capability to start investing right away: Schwab Health Savings Brokerage Account by Charles Schwab and HSA Guided Portfolio by Devenir.
Employer contributions to eligible employees’ HSAs must be treated as comparable. Comparable contributions must be made to all eligible employees enrolled in a qualifying HDHP, are in the same category of employment (full-time, part-time, former employees, and collectively bargained), same category of coverage (self, self +1, self +2, self +3). In order for it to be considered comparable, an employer must contribute the same dollar amount or percentage amount to everyone in that category. Additionally, the higher coverage categories can’t have a lower contribution amount compared to the lower coverage (self +1 has to be greater than self).
For sole proprietors, partnerships, and S-corporations, contributions to a partner’s HSA will be treated as a distribution to the partner and included in the partner’s income and may be deductible by the partner but not by the business. For larger corporations (e.g., C-corps), employer contributions are treated as employer provided coverage for medical expenses under an accident or health plan and therefore tax-deductible.
Employees own their HSA and continue to do so if they leave your company or the health plan.
Once Lively receives the termination information, we convert the HSA from an employee account to an individual account and remove the employee’s association to your company. We will send them communications around the ongoing benefits of their Lively HSA and inform them the account is fee-free for them moving forward.
Most onboardings are typically completed within 30 calendar days.* Your dedicated Customer Success team can enable HSA or Benefit Access debit cards to be in hand by:
Step 1 – Employer Sign-up
Step 2 – Kick off call with customer success team
Step 3 – Employee Enrollment
Step 4 – Contribution Management
Final Step – First Funding
*Third-party dependent
FDIC insured through Midland States Bank for so long as funds remain uninvested and on deposit with Midland States Bank pursuant to pass through insurance requirements.
'Certain conditions must be satisfied for pass-through deposit insurance coverage to apply. Please contact Lively for more details. Midland States Bank has partnered with Lively, Inc. to offer its Health Savings Account. Lively Inc. is not affiliated with Midland States Bank. Neither Lively Inc. nor Midland States Bank provides tax or legal advice. Seek the advice of your own tax and legal professionals to ensure your compliance with applicable HSA and other laws. Investment options for HSAs in the custody of Lively, Inc. are provided by Charles Schwab & Co., Inc., Lincoln National Life Insurance Company and The Lincoln Life & Annuities Company of New York, and Devenir, LLC; fees may apply. Investments are: Not insured by the FDIC; not deposits; and may lose value.
