Benefits: HSA Renewal Setting

Hi. We just implemented Infor this year and have a questions for how Health Savings Account (HSA) is setup. I noticed that our HSA deductions have a declining balance amount. What or how do these renew each year? Is it a configuration setting on the benefit plan or a job that runs?

Thanks,

Amber Brown

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anthony-mannino

Hi Amber. We normally see plan years for HSAs tied to the Flex Plan year (calendar year normally) and all of the enrollments would automatically have 12/31 end/stop dates (or at least some kind of defaulted end dates, meaning they get re-enrolled annually). Are you seeing those stop/end dates defaulting or no?

abrown

Hi Anthony. I am not seeing stop/end dates. Our plan year is on a fiscal year so it goes from July to June. There are declining Balance Amounts on the HSA deductions. I am thinking once that is amount is reached, it will stop and not deduct anymore. We don't require employees to re-enroll, so I was wondering if there is some setting that restarts those deductions? Or if we have it setup wrong for ongoing HSA, without requiring re-enrollment each year.

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