Are new employees eligible to enroll in an FSA?
New employees are eligible to enroll in your company’s Flexible Spending Account (FSA) on the first of the month following the employee's hire date. Current employees can enroll during FSA open enrollment, or if they have a qualifying life event.
Can an employee enroll in HealthEquity without a SSN?
If an employee is awaiting their social security number (SSN), they can still enroll with HealthEquity. It is not a requirement for an employee to have a SSN, but it is the employer’s responsibility to have it on file. If an employee does not have a SSN, any other form of legal identifying tax number is an alternative (e.g., a green card or possibly a Visa registration number).
How do enrollments for Flexible Spending Accounts (FSA) or Health Reimbursement Arrangements work?
HealthEquity offers several enrollment methods in the client portal:
Manual Enrollment: Admins log in to the client portal and manually input member information for new enrollments.
Enrollment by Template/File: Member information is uploaded using a pre-defined template, which is processed within 24-48 hours.
Express Enrollment: A streamlined process for quickly enrolling members, available during open enrollment periods.
Re-Enrolling Existing Members: Members must be re-enrolled every plan year.
When do carryovers show on account balances?
Healthcare FSA and Limited Purpose FSA: These balances will move into the new plan year approximately two weeks after the claim-by date.
Dependent Care FSA: Balances do not carry over.
Health Reimbursement Arrangement: Depends on specific plan setup and timing.
Do you have enrollment forms for our company to use?
Enrollment forms can be downloaded from HealthEquity.com/account-forms.
You can also review and download other helpful documents for your employees, such as flyers and the employee quick start guide from the Open Enrollment Toolkit site.
The enrollment forms are for your records and ease of enrollment. Once the employees complete and return the enrollment form to you, you will need to process their enrollments in the employer portal.
The employee enrollments can be processed manually via template upload or by manually entering enrollments in the portal.