Reimbursement Account (RA) Prefunding
With prefunding, the employer pays a percentage of the total annual plan liability at the start of the plan year to HealthEquity to hold in reserve. The percentage of the plan liability HealthEquity invoices depends on the replenishment frequency you choose. As claims are processed each day, HealthEquity pays them from the reserved funds. Unused funds will be returned to the employer after runout.
Learn more about reimbursement account funding options.
Invoice Replenishment Frequency
Prefunding and Replenishment Invoices
The prefunding and replenishment invoices are found on the employer portal under Manage Money > Payments and Invoices. There are also email notifications that go out to Manage Users that have the email notifications on.
Please note: The prefunding invoice does not contain any details because the invoice is generated by the percentage of all the employees’ election amounts combined. However, you can see the claims that have been paid by viewing the Claims Payment report.
Further, the Funding Ledger report is a complete listing of all funds coming into and out of the account including claims, card transactions, replenishment invoices, and credits.
When Funds are Returned
The remaining funds will be returned 30 - 90 days after the runout date.
Electronic Fund Transfer (EFT) account on file: funds will be returned via EFT/Automated Clearing House transaction.
No EFT account on file: funds will be returned via check to the address on the employer portal.
Information on Funds
Funds will not be rolled to the next year’s funding.
If a group has several unpaid fee invoices applicable to the RA plan year being returned, they are paid using the leftover funds. The difference is then returned to you.
If there is an unpaid replenishment, pending claims, or a negative balance in other reimbursement accounts, we hold the funds and notify the group.