Health Savings Account Administration, delivered by Lively
Offer employees a better benefits package, without adding to your to-do list. BMO Health Savings Accounts, delivered by Lively, provide your team with a way to save tax-free for medical expenses, while making it simple for you to administer the program.
Limited Time Special Offer
BMO HSA, delivered by Lively, will meet or beat what your current HSA provider is charging for their HSA administration AND cover the transfer costs to switch to BMO HSA.4
OFFER DETAILS
Simplify your HSA administration
Intuitive Lively admin dashboard
Review and manage all your administration in one place. Add or remove employees, update their contributions, and get real-time status information in seconds.
Streamlined program management
Lively automates the tedious tasks of HSA administration so you benefit from reliable enrollment and contribution management supported by proprietary technology.
Effortless onboarding
Your dedicated Lively Customer Success Manager will get you set up in weeks (not months). And you’ll receive ongoing support from Lively, as well as resources for both you and your employees.
Lively’s modern HSA helps those seeking healthcare and financial stability bridge today’s savings with tomorrow’s unknowns.
By working with Lively, we strive to ensure that you maximize your HSA program, reduce your admin work, and access support year-round.
Do more, hassle-free
Affordable pricing with no hidden fees- Onboard employees painlessly and paperlessly
- Manage enrollments and contributions via your Lively dashboard, secure files or third-party integrations
- Access on-demand reporting to track employee eligibility, monthly activity and status reports
- Engage employees with personalized and seasonal communications
- Support employees with Lively’s library of resources
- Offer tax-free investing options to your team
Frequently Asked Questions
An HSA lets your employees save and spend – tax-free – for various eligible medical expenses. When paired with a High Deductible Health Plan, it’s a good way to build a better benefits package for employees, increasing employee satisfaction.
By setting up HSA contributions through a Section 125 plan, you may also save on payroll taxes since both employer and employee HSA contributions made from payroll are FICA tax exempt. So you could get a federal income tax deduction for each contribution. footnote 1 Find out what your tax benefit could be.
Lively charges companies a monthly fee based on the number of enrolled employees. There are no other fees for employers.
If your employee wants to invest all or part of their HSA funds, Lively offers access to two industry-leading HSA investment platforms footnote 2, with solutions for both the beginner and more seasoned investor. Learn more
Yes, employees can make direct contributions from their linked external bank accounts within the Lively dashboard or mobile app.
Employees own their HSA and continue to do so if they leave your company or the health plan. Once Lively receives the termination information, the BMO Health Savings Account, delivered by Lively is converted from an employee account to an individual account and the employee’s association to your company is removed. The employee will be sent communications around the ongoing benefits of their new HSA.
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- BMO Health Savings Accounts, delivered by Lively are provided by Lively Inc. and are subject to their approval. Lively Inc. is not affiliated with BMO Bank N.A.
- Footnote 1 detailsContributions tto and earnings on HSAs are not subject to federal taxes but may be subject to state taxes depending on where you reside. BMO Bank N.A. does not provide tax or legal advice. Seek the advice of your own tax and legal professionals to ensure your compliance with applicable HSA and other laws.
- Footnote 2 detailsVarious investment options are provided through Lively Inc.; fees may apply. Investments are: NOT FDIC INSURED – NOT BANK GUARANTEED – NOT A DEPOSIT – MAY LOSE VALUE.3By providing your contact information, you agree to be contacted by a BMO banker about opening your BMO account and related banking opportunities.The ‘Meet or Beat’ promotion shall consist of meeting or beating competitors current pricing, in addition to, waiving closing costs (up to $25 per account holder) to Eligible Clients. Eligible Clients must be receiving the services pursuant to the Agreement to receive the promotion, and any unused part of the month is not redeemable in U.S. currency or for any other entity. Eligible Clients will need to present the most recent billing statement from competitor and the Promotion offer pricing will be valid for the term of the agreement.