Did you make a mistake, or did a member change their mind regarding their General Health FSA or Dental & Vision FSA (LP-FSA)? No worries! It’s a lot easier to update initial funding amounts before the benefit is active. Here’s how.
How to increase a member's FSA & LP-FSA starting balance before benefit activation
Note for Partner Administrators
Select the desired organization from the Organizations tab before following the steps below.
Select the Benefits tab.
Choose the desired benefit template.
On the Benefits dashboard, choose the Overflow Menu for the appropriate member.
Select View Contributions.
Please make any desired updates to the initial funding employee and initial funding company amounts. Any amount listed under New will replace any amount listed under Current.
Select Save.
Language Note
"Initial Funding - Employee" is an initial employee deduction. And "Initial Funding- Company" is the initial employer contribution.
Increasing automated, scheduled, and in-progress contributions
Here are some helpful reminders about updating contribution amounts for automated, scheduled, and in-progress contribution batches.
Timeline for automated contribution updates
Automated contribution amounts are updated and applied to the next contribution batch. The last date to update amounts for upcoming contributions is five (5) days before the pay date at 9:00 PM Central Time.
Increasing in-progress contributions
You cannot update or cancel a contribution batch that is already in progress. Contact Support if you have any additional questions.
Increasing scheduled contributions
If you need to update the contribution amounts for an existing automated contribution, you must cancel the contribution and manually schedule a new one.
Time-saving tip for increasing scheduled contributions
Download the CSV for the scheduled contribution batch. Make your desired updates. After making your desired updates to the Contributions spreadsheet:
Cancel the scheduled contribution batch.
Schedule a new contribution batch with the updated CSV.
Remember to update the recurring contribution amounts within the platform for future automated contribution batches!
About FSA & LP-FSA starting balances
Language Note
Annual elections are the sum of all funds an employee or employer will contribute for the plan year.
Annual election amounts for flexible spending accounts (FSAs) and limited-purpose flexible spending accounts (LP-FSA) are available to plan participants at the beginning of the plan year. (It's kinda like an employer distributing employee salaries on January 1st. Sign me up!)
To adjust a member's starting balance for a General Health FSA or Dental & Vision LP-FSA, provide the additional amount needed to match the total annual election amount when making an initial funding contribution.
Related articles on updating contribution amounts
Are you unsure if this is the right article for you? Here's a list of related articles on updating contribution amounts.
| Starting Balance for FSAs & LP-FSAs | Initial Funding for Non- FSAs & LP-FSAs | Recurring Contributions for All Benefits |
Pending Benefit | (You are here.) | ||
Active Benefit |