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! Here's how you can update initial funding amounts for after-benefit enrollment.
How employer administrators can update a member's starting balance
Select the Contributions tab.
Select Create New Contribution
Select the Initial Funding contribution type.
Select the date to make funds available to member(s).
Select Create Contributions.
Upload the Contributions spreadsheet with appropriate information.
Select Schedule Contributions.
Select Close.
How partner administrators can update a member's starting balance
Select the Organizations tab.
Select the desired organization from the list.
Select the Contributions tab.
Select Create New Contribution
Select the Initial Funding contribution type.
Select the date to make funds available to member(s).
Select Create Contributions.
Upload the Contributions spreadsheet with appropriate information.
Select Schedule Contributions.
Select Close.
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.
Initial funding is additive (supplementary)
Making a manual Initial Funding contribution is only additive; it does not replace an existing initial contribution. For this reason, when manually making an initial funding contribution, include the additional amount that matches the desired annual amount.
Initial Funding Example
During benefits enrollment, Admin Anna set Mike’s FSA initial amounts as $10 initial employee deduction and $10 initial employer contribution. $10 + $10 = $20 initial funding
Anna messed up. Mike’s actual annual employee deduction is $100 and his annual employer contribution is $100 for a starting balance of $200. Here’s what she’ll do.
Starting Balance (Annual Election) - Original Initial Funding
$200 - $20
$180 = Manual Initial Funding
When uploading the Contributions spreadsheet, Anna will input $90 for the initial employee deduction and $90 for the initial employer contribution.
View current starting balances
The Total Initial Funding column on the benefit dashboard provides each program member's starting balance. For more detailed information, select the Overflow Menu for the desired member and then choose View Contributions.
Updating automated, scheduled, and in-progress contributions
If you're reading this article for updating amounts after the enrollment start date, it's likely too late for you to update an automated contribution batch, but here are some helpful reminders.
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.
Updating in-progress contributions
You cannot update or cancel a contribution batch that is already in progress. Contact Support if you have any additional questions.
Updating 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 updating 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!
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.
| FSA & LP-FSA Starting Balance | Initial Funding | Updating Recurring Contributions |
Before Enrollment Start Date | |||
After Enrollment Start Date | (You are here.) |