Livelyme.com Reviews

Based on checking the website, Livelyme.com appears to be a legitimate platform primarily focused on providing Health Savings Accounts HSAs for individuals and a comprehensive suite of flexible employee benefits for businesses, brokers, and consultants.

The site emphasizes simplifying benefit administration, boosting adoption, and offering robust support, aiming to make managing health and other financial benefits more straightforward.

Lively positions itself as a solution for both individuals seeking to maximize healthcare savings and employers aiming to streamline benefit offerings.

They highlight features like faster onboarding, 24/7 employee support via an AI chatbot, and quicker claims processing through smart tech.

For businesses, the platform offers a range of employer-sponsored accounts, including Flexible Spending Accounts FSAs, Health Reimbursement Arrangements HRAs, Lifestyle Spending Accounts LSAs, and Medical Travel Accounts MTAs, in addition to COBRA and Direct Bill services.

The overall impression is that Lively aims to remove the guesswork and complexity often associated with health and financial benefits, making it an attractive option for those looking to optimize their healthcare finances or employer-sponsored plans.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Livelyme.com Review & First Look

The website’s design is clean, intuitive, and easy to navigate, immediately conveying a sense of trustworthiness and clarity.

The initial impression is that Lively understands the complexities of healthcare financing and has designed a system to simplify it for both individual users and corporate clients.

Understanding the Core Offering: HSAs

At the heart of Lively’s individual offering are Health Savings Accounts HSAs. For those unfamiliar, an HSA is a tax-advantaged savings account that can be used with a High Deductible Health Plan HDHP to pay for qualified medical expenses. The funds contributed to an HSA are tax-deductible, grow tax-free, and withdrawals for qualified medical expenses are also tax-free. This triple tax advantage makes HSAs a powerful tool for healthcare savings and long-term financial planning. Lively emphasizes that their HSAs are free for individuals and families, with “no hidden fees – ever,” which is a significant selling point in a market often plagued by obscure charges.

Business Solutions at a Glance

For businesses, Lively extends its expertise beyond just HSAs, offering a full suite of flexible benefits. This includes:

• Flexible Spending Accounts FSAs: Employer-sponsored accounts that allow employees to set aside pre-tax money for healthcare or dependent care expenses.
• Health Reimbursement Arrangements HRAs: Employer-funded accounts that reimburse employees for qualified medical expenses and insurance premiums.
• Lifestyle Spending Accounts LSAs: Flexible accounts that can be used for a broader range of expenses, often related to wellness, professional development, or even student loan repayment, depending on the employer’s design.
• COBRA & Direct Bill: Services to manage COBRA administration and direct billing for benefits.

This comprehensive portfolio indicates Lively’s commitment to being a one-stop solution for employers seeking to offer competitive and adaptable benefit packages to their employees.

Livelyme.com Pros & Cons

Based on the information presented on the website, Livelyme.com offers several compelling advantages, but it’s also important to consider potential areas that might require closer scrutiny or better alternatives.

Livelyme.com Pros

Lively highlights numerous benefits that make it an attractive option for both individuals and businesses.

• Transparent Pricing for Individuals: A standout feature is the $0.00 fee for individual and family HSAs. This complete transparency and lack of hidden fees is a significant advantage, ensuring users can maximize their savings without erosion from administrative charges.
• High Customer Satisfaction NPS: Lively proudly states its customer satisfaction Net Promoter Score – NPS is “3-4 times higher than the industry average,” specifically mentioning an NPS score nearly triple the average of 16-34. This suggests a strong focus on user experience and support.
• Robust Employer Retention: A 98% employer retention rate indicates high satisfaction among businesses that choose Lively for their employee benefits. This metric speaks volumes about the quality of their service and administrative ease for HR teams.
• Significant Fee Savings: Lively claims that its HSA account holders have saved over $24 million in fees. This directly translates into more money in the pockets of individuals for their healthcare needs.
• Advanced Technology & AI Integration: The platform boasts “smarter tech and AI-powered tools” for faster, easier onboarding, 24/7 employee support via an AI chatbot, and quicker claims and reimbursements with “AI-driven approvals.” This focus on efficiency and automation is a clear advantage.
• FDIC-Insured Accounts: Lively HSAs are FDIC-insured, providing peace of mind regarding the security of funds. They partner with FDIC-insured financial institutions to offer this protection.
• Comprehensive Benefit Suite for Businesses: Beyond HSAs, the offering of FSAs, HRAs, LSAs, MTAs, COBRA, and Direct Bill makes Lively a versatile partner for companies looking to manage diverse employee benefits.
• Responsive and Expert Support: Lively emphasizes “responsive, expert support” available to users for saving, spending, or investing. This customer-centric approach is crucial for navigating complex financial accounts.

Livelyme.com Cons

While the website presents a strong case, a critical review reveals a few aspects that users should consider, or where alternatives might be more beneficial.

• Investment Fees Optional: While individual HSAs are free for the cash balance, the website notes that choosing to invest funds within the HSA is “optional – additional fee may apply.” The exact structure of these fees isn’t immediately transparent on the main page, requiring further investigation. For those seeking purely Shariah-compliant investment options, a conventional investment platform with potential interest-bearing instruments might not align with Islamic principles. Better Alternative: Seek out investment platforms that explicitly offer Shariah-compliant investment funds, often structured as ethical portfolios or specific halal equity funds, ensuring no involvement with interest riba, prohibited industries e.g., alcohol, gambling, conventional finance, or excessive uncertainty gharar.
• Business Pricing Monthly Minimum: For businesses, while the per-employee-per-month PEPM fee is competitive at $2.95, a “monthly minimum of $50 may apply.” This minimum might be a consideration for very small businesses with only a few employees, potentially making the per-employee cost higher in practice.
• Reliance on HDHP for HSA Eligibility: As with all HSAs, eligibility is contingent on being covered under an HSA-eligible High Deductible Health Plan HDHP. This isn’t a “con” of Lively specifically, but rather a characteristic of HSAs themselves, meaning not everyone will qualify.
• Customer Service Hours: While 24/7 AI chatbot support is available, the human “top-rated Support team” is accessible from “6 a.m. to 6 p.m. PT.” For users in different time zones, this could mean limited real-time human assistance outside of these hours.
• General Nature of “Flexible Benefits”: While flexible benefits offer customization, it’s crucial for employers to ensure the options provided align with the ethical and religious values of their diverse workforce. LSAs, for instance, can be very broad. Better Alternative: Employers should carefully curate the types of flexible benefits offered, ensuring they promote healthy, ethical, and permissible activities, and offer clear guidelines to employees to choose options that align with their personal values, such as promoting physical well-being through halal fitness programs or educational courses rather than activities that may involve mixed gatherings or immodest attire.

Livelyme.com Pricing

Livelyme.com maintains a transparent pricing structure, clearly delineating costs for individuals and businesses.

This clarity is a significant positive, helping potential users understand their financial commitments upfront. Newhomesolutions.co.uk Reviews

Pricing for Individuals

• HSA Account: $0.00
  • This is the headline feature: Lively offers free Health Savings Accounts for individuals and families. This means there are no monthly maintenance fees, no hidden charges, and no minimum balance fees for the cash portion of your HSA.
  • Included Features: The free individual HSA includes the HSA cash balance, which is both FDIC-insured and interest-bearing.
  • Investment Option Optional – Additional Fee: While the core account is free, Lively also provides an option to invest your HSA funds. The website states that choosing to invest is “optional – additional fee may apply.” This implies that while you won’t pay a fee on your cash balance, there might be charges associated with the investment platform or specific investment choices. Users should thoroughly review the detailed fee schedule for investments before opting in. Better Alternative: For those seeking to invest their HSA funds, it’s paramount to explore investment platforms that prioritize ethical and Shariah-compliant investment vehicles. This ensures that investments do not involve interest-based products riba, alcohol, gambling, or other prohibited industries. Seek out providers that explicitly offer screened funds or allow direct investment into permissible assets like certain REITs or halal equity ETFs.

Pricing for Businesses

• Per Employee Per Month PEPM: $2.95
  • Lively charges businesses a fee of $2.95 per employee per month for streamlining HSA administration and other flexible benefits. This is a competitive rate designed to make benefits management more efficient for employers.
  • Monthly Minimum: A monthly minimum of $50 may apply. This means if a business has fewer than approximately 17 employees 50 / 2.95 ≈ 16.9, they will still pay the $50 minimum rather than the calculated PEPM amount. This is an important consideration for very small businesses.
  • Included Features: The business pricing includes an intuitive dashboard for administration, effortless contribution management, and personalized investment options for employees though investment fees would still apply to employees, as mentioned above.
  • Preferred Pricing: Businesses can contact Lively directly for “preferred pricing,” suggesting potential volume discounts or custom arrangements for larger organizations.

Overall, Lively’s pricing strategy emphasizes accessibility for individuals and efficiency for businesses.

The free individual HSA is a strong draw, while the business model aims to provide value through streamlined administration and comprehensive offerings.

Livelyme.com Features

Livelyme.com is built on a foundation of technology and user-centric design, offering a suite of features aimed at simplifying the management of health savings and flexible benefits for both individuals and employers.

For Individuals: Maximizing Healthcare Savings

• No Hidden Fees: As highlighted, individual HSAs come with zero hidden fees, ever. This transparency ensures that every dollar saved is genuinely available for healthcare expenses or investments.
• FDIC-Insured HSA Cash Balance: Funds held in the HSA cash balance are FDIC-insured, providing a layer of security and peace of mind for account holders.
• Interest-Bearing Cash Balance: The HSA cash balance is interest-bearing, meaning your money can grow even if it’s not invested in the market. While this interest is from a conventional bank, the primary benefit of the HSA is the tax advantage and its use for medical expenses. Better Alternative: While the interest component is often part of standard HSA offerings, individuals committed to avoiding riba interest should ideally aim to spend down their HSA cash balance quickly on legitimate medical expenses and minimize leaving large amounts sitting idle. For investment, as mentioned, look for Shariah-compliant funds.
• Flexible Investment Options Optional: Lively allows users to choose when and how to invest their HSA funds. This flexibility enables users to grow their savings over the long term for future healthcare needs. However, due to the nature of conventional investment options that may include interest-based instruments, one must be careful. Better Alternative: Prioritize investment platforms that specifically offer Shariah-compliant funds or allow self-directed investment into permissible assets.
• Responsive, Expert Support: Lively pledges “responsive, expert support” for all account activities, from saving to spending to investing. This human-centric support is crucial for complex financial accounts.

For Businesses & HR Teams: Streamlining Benefits Administration

• Faster, Easier Onboarding with File Sync: Lively’s File Sync tool is designed to integrate seamlessly with “any provider” to get businesses up and running quickly. This minimizes the traditionally time-consuming setup process, requiring “no reformatting.”
• 24/7 Employee Support: Beyond live support available 6 a.m. to 6 p.m. PT, employees have access to Lively’s AI chatbot for “instant, personalized answers on-demand,” reducing the burden on HR teams for common queries.
• Smarter Employee Benefits Decisions with LivelyIQ: This feature includes “dynamic tools and education” to help employees make informed choices about their health plan and other benefits, offering personalized insights.
• Faster Claims and Reimbursements: Utilizing “Claim Sync and AI-driven approvals,” Lively aims to expedite the claims process, ensuring employees receive their funds sooner and reducing follow-ups for HR. This efficiency is crucial for employee satisfaction.
• Intuitive Dashboard Administration: For HR teams, the platform offers an easy-to-use dashboard to manage various aspects of employee benefits, simplifying oversight and administration.
• Effortless Contribution Management: The system is built to make managing employee contributions straightforward, minimizing errors and administrative overhead.
• Personalized Investment Options: Employers can offer personalized investment options within the HSA framework, giving employees more control over their healthcare savings growth subject to individual investment fees.
• Comprehensive Flexible Benefits: Beyond HSAs, Lively provides administration for FSAs, HRAs, LSAs, MTAs, COBRA, and Direct Bill, allowing businesses to centralize their flexible benefits management with one provider.

Overall, Lively’s features are designed to create an ecosystem where managing health savings and benefits is less of a chore and more of an efficient, supportive process, powered by technology and a commitment to customer satisfaction.

Livelyme.com Alternatives

When considering Livelyme.com for Health Savings Accounts and flexible benefits, it’s wise to explore other reputable providers in the market.

While Lively offers strong features, specific needs, investment preferences especially for Shariah-compliant options, or organizational size might lead one to consider alternatives.

HSA Providers Individual & Employer

• Fidelity Investments:
  • Pros: Fidelity offers a highly competitive HSA with no account maintenance fees and access to a vast array of investment options, including ETFs, mutual funds, and individual stocks. Their robust platform is ideal for those who want extensive investment control. They are a well-established financial institution with a strong reputation.
  • Cons: While the investment options are broad, users must diligently screen for Shariah-compliant funds, as Fidelity itself does not explicitly label them. The sheer volume of choices can also be overwhelming for some.
  • Better Alternative: For those prioritizing ethical investing, Fidelity’s self-directed brokerage allows careful selection of Shariah-compliant ETFs e.g., HLAL, UMMA or individual stocks that meet specific criteria, requiring due diligence from the investor.
• Optum Bank:
  • Pros: As one of the largest HSA providers, Optum Bank is often linked with major health insurance plans. They offer a wide range of services, including debit cards for easy access to funds, and a solid online portal. They are particularly strong in the employer-sponsored market.
  • Cons: Their investment options can be more limited or have higher fees compared to brokerage-centric HSAs like Fidelity. The cash balance might offer lower interest rates.
  • Better Alternative: Optum is a standard choice for employers, but individuals should compare investment fees and options if they plan to grow their HSA long-term.
• HSA Bank:
  • Pros: HSA Bank is another long-standing and prominent HSA provider. They offer both individual and employer accounts, with various tools for managing health expenses and investments. They have a solid reputation for customer service.
  • Cons: Similar to Optum, investment choices and associated fees might not be as competitive as pure brokerage platforms. Their online interface, while functional, might not be as modern or intuitive as some newer providers.
  • Better Alternative: HSA Bank provides a reliable service, but for ethical investing, individuals would need to investigate their specific investment partners and available funds to ensure Shariah compliance.

Flexible Benefits Administration Platforms Employer-Focused

• WageWorks now part of HealthEquity:
  • Pros: HealthEquity is a major player in the flexible benefits space, offering HSAs, FSAs, HRAs, and COBRA administration. They have a vast client base and offer comprehensive solutions for large and small employers.
  • Cons: Integration complexities can sometimes arise, and customer service experiences can vary due to their large scale.
  • Better Alternative: HealthEquity offers a broad range of benefits. employers should ensure the specific plan designs and vendor partnerships align with their values and provide transparent options for employees.
• ConnectYourCare also part of HealthEquity:
  • Pros: Similar to WageWorks, ConnectYourCare provides robust administration for various pre-tax accounts. They focus on simplifying the experience for both employers and employees.
  • Cons: Can have similar integration and customer service challenges as other large providers.
  • Better Alternative: As with any large benefits administrator, focus on their specific plan design flexibility and how they support employee education on ethical choices within available benefits.
• Zenefits / Gusto for smaller businesses with integrated HR:
  • Pros: These platforms offer integrated HR, payroll, and benefits administration, making them ideal for smaller and medium-sized businesses looking for a single system. They often partner with HSA providers to offer benefit accounts.
  • Cons: While convenient, the benefits component might not be as specialized or deep as dedicated benefits administrators.
  • Better Alternative: For integrated HR and benefits, assess how these platforms allow for customization of benefit offerings to ensure they include ethically sound choices for employees.

When choosing an alternative, it’s crucial to evaluate:

1. Fees: Both administrative and investment fees.
2. Investment Options: Breadth, cost, and crucially, Shariah compliance for those seeking ethical investments.
3. Customer Service: Availability, responsiveness, and expertise.
4. Integration: How well it integrates with existing systems for businesses.
5. User Experience: Ease of use for both administrators and employees.
6. Shariah Compliance: For investments, it’s essential to scrutinize the underlying assets and avoid any involvement in interest-based transactions riba or prohibited industries. Always prioritize platforms that offer clear pathways to halal investing.

How to Cancel Livelyme.com Subscription

Lively.com primarily deals with Health Savings Accounts HSAs and other flexible benefits, which are typically ongoing accounts rather than subscriptions in the traditional sense like a streaming service.

Therefore, “cancellation” usually refers to closing an account or ending a business relationship.

For Individual HSA Holders

If you are an individual HSA account holder with Lively and wish to close your account, the process will generally involve the following steps: Dazuma.us Reviews

1. Transfer Funds or Withdraw:
   • Transfer to Another HSA: If you are opening an HSA with a different provider, you can typically initiate a trustee-to-trustee transfer. This is often the most tax-advantageous way to move your funds without incurring penalties or taxes. Contact your new HSA provider, and they will usually guide you through the process of requesting the transfer from Lively.
   • Withdraw Funds: You can withdraw your funds, but be aware of the tax implications. If you are under age 65 and the withdrawal is not for a qualified medical expense, the funds will be subject to income tax and a 20% penalty. If you are 65 or older, or if the withdrawal is for a qualified medical expense, it will be tax-free. However, this method essentially closes the account by liquidating it.
2. Contact Lively Customer Support:
   • Reach out to Lively’s customer support team. Their contact information phone, email, or help center should be available on their website. Explain that you wish to close your individual HSA.
   • They will likely require you to fill out specific forms or provide certain information to verify your identity and confirm your request.
   • Documentation: Be prepared to provide account details and possibly a written request.
3. Confirm Account Closure:
   • Once the transfer or withdrawal is complete and Lively processes your request, confirm that the account has been officially closed. You should receive a confirmation notice or a final statement indicating a zero balance.

For Businesses/Employers

If you are a business or HR team looking to end your relationship with Lively for employee benefits administration, the process is more involved due to the number of accounts and employees affected.

1. Review Your Contract:
   • First, review your service agreement or contract with Lively. This document will outline the terms and conditions for termination, including any required notice periods, fees, or data transfer protocols.
2. Notify Lively:
   • Contact your dedicated account manager or Lively’s business support team. Clearly communicate your intention to terminate services.
   • Provide the required notice as stipulated in your contract.
3. Plan for Transition:
   • Choose a New Provider: Identify and onboard a new flexible benefits administrator well in advance.
   • Data Migration: Work closely with Lively and your new provider to ensure a smooth and compliant transfer of all employee data, account balances especially for FSAs and HRAs, which have specific year-end rules, and historical records. This is critical for avoiding disruptions to employee benefits.
   • Employee Communication: Inform your employees about the change in benefit providers, providing clear instructions on how their accounts will be managed, who their new point of contact will be, and what actions, if any, they need to take.
   • Account Closure & Final Reconciliation: Lively will guide you through the final steps, which typically involve reconciling all accounts, processing outstanding claims, and ensuring all employer contributions are finalized.

Key Considerations for Cancellation:

• Timing: For individuals, cancelling an HSA can be done at any time, but consider tax implications. For businesses, timing should align with benefit plan years or contractual terms to minimize disruption.
• Outstanding Claims: Ensure all outstanding claims and reimbursements are processed before initiating closure.
• Tax Documents: Make sure you will receive all necessary tax documents e.g., Form 1099-SA for HSAs from Lively for the current tax year.

It’s always recommended to directly contact Lively’s customer support or your dedicated account manager for the most accurate and up-to-date cancellation procedures specific to your account type.

How to Cancel Livelyme.com Free Trial

The Livelyme.com website, based on a review of its main pages, does not explicitly mention or offer a “free trial” for its services in the traditional sense, such as a time-limited free access to a full software suite before committing to a paid plan.

Instead, Lively’s model appears to be:

• Free for Individuals: Individual Health Savings Accounts HSAs are completely free with “no hidden fees – ever.” This isn’t a trial. it’s their standard, ongoing pricing model for individuals. So, there’s no “trial” to cancel here, as the base service itself is free. If an individual wishes to stop using Lively for their HSA, they would follow the account closure process as outlined in the “How to Cancel Livelyme.com Subscription” section i.e., transferring funds or withdrawing and closing the account.
• Paid for Businesses: For businesses, Lively charges $2.95 per employee per month PEPM with a potential monthly minimum. There’s no indication of a free trial period where businesses can use their full administration tools for a limited time before payment kicks in. Businesses would typically engage in sales consultations and demonstrations before signing up. Their onboarding process is emphasized as “faster, easier,” implying a streamlined setup rather than a trial.

Therefore, if you are looking to “cancel a free trial” for Livelyme.com, it’s highly likely you are either:

1. An individual who believes they are on a trial: In this case, your individual HSA is actually free of charge for the core service. You don’t need to “cancel a trial” but rather manage or close your account if you no longer wish to use Lively as your HSA provider.
2. A business that had a demo or consultation: If you engaged in a sales discussion or demonstration, this isn’t a “free trial” of the live service. If you decide not to proceed, simply inform the Lively sales representative or business development contact that you will not be moving forward. There would be no “cancellation” process as you haven’t entered into a service agreement or contract yet.

In summary, there’s no readily apparent “free trial” mechanism on Livelyme.com that would require a specific cancellation process. If you’ve signed up for a service, refer to your account type individual or business and follow the respective account management or termination procedures if you wish to discontinue use.

Livelyme.com vs. Competitors

When evaluating Livelyme.com, it’s useful to compare its offerings against key competitors in the Health Savings Account HSA and flexible benefits administration space.

Each provider has its strengths, and the best choice often depends on specific individual or organizational needs, including investment preferences and the need for Shariah-compliant options.

Lively vs. Fidelity Investments HSA Focus

• Lively:
  • Pros: $0.00 fees for individual HSAs cash balance, strong customer satisfaction high NPS, dedicated focus on HSA and flexible benefits administration, AI-powered tools for efficiency, direct support for businesses.
  • Cons: Investment options within Lively might incur additional fees, and the specific Shariah compliance of these pre-packaged options needs careful scrutiny. Human customer service hours are limited to PT business hours.
  • Pros: Also offers $0.00 account maintenance fees for HSAs. A major advantage is access to a vast, self-directed investment platform with nearly limitless options stocks, ETFs, mutual funds. This allows for greater control and the ability to hand-pick Shariah-compliant investment vehicles e.g., specific halal ETFs, screened mutual funds.
  • Cons: While strong for self-directed investors, it might be overwhelming for those new to investing. Their core business isn’t solely HSAs, so the specific support might be less specialized compared to Lively.
• Verdict: For individuals prioritizing Shariah-compliant investing and extensive investment control, Fidelity is often the superior choice due to its expansive brokerage platform that facilitates careful selection of permissible assets. Lively is excellent for a no-fee cash-focused HSA and for businesses seeking a comprehensive benefits administrator with strong tech.

Lively vs. Optum Bank / HSA Bank Traditional HSA Providers

*   Pros: Modern interface, strong emphasis on user experience and AI-driven efficiency, very competitive business pricing model for administration.
*   Cons: Investment options might be more limited compared to brokerage firms. primary human support limited to business hours.

• Optum Bank / HSA Bank:
  • Pros: Long-standing, established providers with deep integration into the healthcare ecosystem often linked with major insurance carriers. Reliable and widely used, especially by employers.
  • Cons: Investment options can be more restricted and potentially have higher fees compared to newer, tech-focused providers or brokerage HSAs. User interfaces might feel less modern or intuitive. Customer service can sometimes be less personalized due to their large scale.
• Verdict: Lively generally offers a more streamlined, technologically advanced, and user-friendly experience for both individuals and businesses. Optum/HSA Bank are established and reliable, especially for businesses seeking traditional large-scale administration, but may lack the modern efficiency and investment flexibility of Lively or brokerage-based HSAs.

Lively vs. All-in-One HR/Benefits Platforms e.g., Zenefits, Gusto

*   Pros: Specializes in pre-tax benefits administration HSAs, FSAs, HRAs, LSAs, deep expertise in this niche, offers strong integrations for benefits.
*   Cons: Does not handle other HR functions like payroll, time tracking, or core HR management. businesses would need other systems for these.

• Zenefits / Gusto:
  • Pros: Offer integrated HR, payroll, and benefits administration, simplifying operations for small to medium-sized businesses by consolidating multiple functions into one platform.
  • Cons: While they offer benefits administration, their expertise might not be as deep or specialized in complex benefits like LSAs or MTAs as a dedicated provider like Lively. Benefits offerings are often through third-party partnerships, which can sometimes add layers of complexity.
• Verdict: For businesses primarily focused on optimizing pre-tax benefits administration with advanced features and dedicated support, Lively is a strong contender. For smaller businesses seeking to consolidate all HR functions payroll, benefits, onboarding, etc. into a single system, integrated platforms like Zenefits or Gusto might be more appealing, albeit potentially with less specialized benefits features.

Overall Recommendation: Lively stands out for its clear, transparent, no-fee individual HSA and its robust, tech-forward approach to business benefits administration. However, for those seeking to actively invest their HSA funds in Shariah-compliant options, platforms like Fidelity that offer self-directed brokerage capabilities present a more suitable pathway for ethical investment control. Businesses should weigh Lively’s specialized benefits expertise against the convenience of all-in-one HR platforms. Eecu.org Reviews

Frequently Asked Questions

What is Lively.com?

Lively.com is a financial technology company that provides Health Savings Accounts HSAs for individuals and a comprehensive suite of flexible employee benefits, including FSAs, HRAs, LSAs, MTAs, COBRA, and Direct Bill, for businesses, brokers, and consultants.

Is Lively.com legitimate?

Yes, based on the information provided on its website, Lively.com appears to be a legitimate and established provider in the health savings and flexible benefits industry.

They cite high customer satisfaction and employer retention rates.

Are Lively HSAs free for individuals?

Yes, Lively advertises that its HSAs are “free for individuals & families” with “no hidden fees – ever” for the cash balance portion of the account.

Does Lively offer investment options for HSAs?

Yes, Lively offers optional investment options for HSA funds.

However, additional fees may apply for these investment services.

For Shariah-compliant investments, individuals should seek out platforms that offer clear pathways to permissible assets.

Are Lively HSA funds FDIC-insured?

Yes, Lively partners with FDIC-insured financial institutions, and your HSA account may be eligible for pass-through FDIC insurance, subject to certain conditions.

What types of flexible benefits does Lively offer to businesses?

Lively offers Health Savings Accounts HSA, Flexible Spending Accounts FSA, Lifestyle Spending Accounts LSA, Health Reimbursement Arrangements HRA, Medical Travel Accounts MTA, and COBRA and Direct Bill services to employer groups.

How does Lively’s customer service compare to competitors?

Lively claims a customer satisfaction NPS score that is “3-4 times higher than the industry average,” indicating a strong focus on responsive and expert support. Amazonexpertpublication.com Reviews

They offer 24/7 AI chatbot support and live team support during PT business hours.

What are the fees for businesses using Lively?

Businesses are charged $2.95 per employee per month PEPM, though a monthly minimum of $50 may apply.

Can I transfer an existing HSA to Lively?

While not explicitly detailed in the main website text, it is standard practice for HSA providers to facilitate transfers from other HSA custodians.

You would typically initiate this process by contacting Lively’s support.

What is the eligibility criteria for opening an HSA with Lively?

You are eligible to open an HSA if you are covered under an HSA-eligible High Deductible Health Plan, not enrolled in Medicare, not enrolled in a Healthcare/General Purpose Flexible Spending Account, not covered by any other secondary health insurance plan, and cannot be claimed as a dependent on someone else’s tax return.

What is a Lifestyle Spending Account LSA offered by Lively?

A Lifestyle Spending Account LSA is a flexible employer-sponsored account that allows employees to use funds for a broader range of expenses, often related to wellness, professional development, or other lifestyle benefits, as defined by the employer.

Employers should ensure these align with ethical guidelines.

How does Lively help with benefits administration for HR teams?

Lively offers features like a File Sync tool for faster onboarding, an intuitive dashboard for administration, effortless contribution management, and AI-driven approvals for faster claims and reimbursements, aiming to reduce HR hassle.

Does Lively offer a free trial for businesses?

No, the website does not indicate a “free trial” for businesses.

Businesses typically engage in demonstrations and sign up for a paid service at $2.95 PEPM with a minimum. Stadlauer.com Reviews

How do I close my individual Lively HSA account?

To close your individual HSA, you typically need to transfer your funds to another HSA provider or withdraw them being mindful of tax implications, then contact Lively’s customer support to formally request account closure.

What is LivelyIQ?

LivelyIQ is a feature that includes dynamic tools and education designed to help employees make informed decisions about their health plan and other benefits by providing personalized insights.

Does Lively provide tax documents for HSAs?

Yes, as an HSA custodian, Lively would be responsible for providing necessary tax documents, such as Form 1099-SA, for tax reporting purposes.

Can I manage my Lively HSA through a mobile app?

While not explicitly mentioned on the homepage, most modern financial platforms, including HSA providers, offer mobile app access for managing accounts.

It’s advisable to check their App Store/Google Play listings.

How does Lively ensure the security of my funds?

Lively uses bank-grade security measures and partners with FDIC or NCUA insured financial institutions to ensure the security of your HSA funds.

What are the main advantages of choosing Lively for my HSA?

Key advantages include $0.00 fees for individuals, high customer satisfaction, robust technology for efficient administration, and comprehensive flexible benefit offerings for businesses.

Is Lively suitable for small businesses?

Yes, Lively caters to businesses of various sizes.

While a $50 monthly minimum fee applies, their streamlined administration and comprehensive offerings can be beneficial for small businesses looking to manage employee benefits efficiently.

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