Offset rising expenses with modern FSAs

Offset rising expenses with modern FSAs

Lively offers a suite of Flexible Spending Accounts (FSAs): Medical (or Healthcare) FSA, HSA-Compatible (or Limited Purpose) FSA, Dependent Care FSA

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Optimize healthcare spending and eliminate waste

Limited education and subpar customer support from traditional FSA providers result in administrative frustrations and forfeited pre-tax funds. Our FSA experience uses smart automation and intuitive design to help each FSA reach its maximum potential.

Reliable access to funds

Employees can use and manage funds with our intuitive dashboard, even when they’re on the go.

Flexible funding options

Our proprietary technology is designed for agile and hassle-free set up to accommodate a variety of funding options.

Automated claims substantiation

Our smart technology automatically substantiates nearly 90% of transactions to reduce the burden on employees and keep claims from slipping through the cracks.

Real-time notifications

Personalized activity monitoring and notifications make it easy to take timely action and make informed decisions.

Lively Employer Customer

We are an FSA provider on a mission

Lively is committed to helping employees optimize their employer-sponsored benefits and spending. With our suite of FSAs and top-rated HSA, employers can offer a more robust benefits package, and employees are empowered to take control of their tax-free savings. We offer:

  • Personalized FSA guidance
  • Responsive support
  • Seamless, timely reimbursement
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Medical Flexible Spending Accounts made easy

Healthcare or general purpose FSAs can help employees pay for eligible medical, dental, and vision expenses their health plans may not cover. FSAs offer employees more flexibility to choose the best health plan for their needs.

Some qualified medical expenses for healthcare FSAs include:

  • Copays and deductibles
  • Prescriptions
  • Over-the-counter drugs
  • Medical supplies and equipment
  • Diagnostic devices like blood sugar kits

How healthcare FSAs work :

  • Eligibility: Employees must re-enroll each year and employees must not be enrolled in an HSA
  • Coverage: Can be used to cover employees, their spouses, and dependents, including children under the age of 27
  • Contribution limits: Set each year by the IRS — employers may contribute up to the contribution limit for their qualified employees
  • Enrollment timeframe: Employees can only enroll and set their annual election amount during open enrollment, or on account of a qualifying life event.

Simple savings for dependent care

A great addition to your benefits package, many working parents and caregivers take advantage of a Dependent Care FSA (DCFSA) each year. A DCFSA is an employer-sponsored, pre-tax account employers can offer to help employees pay for child and dependent care. It's designed to help employees pay for care services that allow them to work when they would otherwise need to fulfill caretaking duties. Enrolling in a DCFSA enables employees to offset some of the high costs of dependent care services while also reducing their tax burdens. Employees can be simultaneously enrolled in a DCFSA and and an HSA or another type of FSA.

Qualified dependent care FSA expenses include:

  • Physical care
  • In-home care
  • Child or adult daycare given by qualified caregivers in an institutional setting
  • Transportation provided by caregivers

How a dependent care FSA works:

  • Eligibility: Employers may offer dependent care FSAs to employees who have a child who is under the age of 13 and/or a spouse or relative who is physically or mentally incapable of taking care of themselves living with them full time and claimed as a dependent on their tax return.
  • Fund access: Per each payroll
  • Enrollment timeframe: Employees must enroll during open enrollment unless they have a qualifying life event.

Hassle-free limited purpose accounts

A Limited-Purpose FSA (LPFSA) is a tax-advantaged account employees can use to pay for eligible vision and dental services not covered by your company’s insurance plan. Once the health plan deductible has been met, the LPFSA converts to a Medical FSA and can be used for other eligible expenses in addition to vision and dental. Unlike with a Medical FSA, employees can contribute pre-tax dollars to both an LPFSA and an HSA in the same plan year and as such a LPFSA is sometimes referred to as an “HSA compatible” FSA.

Qualified limited purpose FSA expenses include:

  • Copays and deductibles
  • Exams, diagnostic visits, x-rays, and non-cosmetic surgery
  • Eye glasses, contacts, and solution
  • Dentures and bridges
  • Orthodontia and guards for teeth grinding

An LPFSA combined with a HSA enables employees to save money on healthcare in both the short and long term. By paying for eligible vision and dental expenses with LPFSA funds first, employees give their HSA funds a chance to grow and save for long term expenses and can be part of a well-rounded employee benefits package.