Lively HSA: "no activity... acct will be closed..."

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Angst
Posts: 2068
Joined: Sat Jun 09, 2007 11:31 am

Lively HSA: "no activity... acct will be closed..."

Post by Angst » Mon May 20, 2019 3:58 pm

Has anyone received an email from Lively like the one I got today?
Lively wrote:Our records indicate that your Lively account was opened more than 90 days ago but has not had any activity on it. Since there has been no activity on your Lively account, your Lively account will automatically be closed after June 30, 2019.

If you would still like to keep your Lively account open, please respond to this email by June 30, 2019 letting us know accordingly.

Thanks,
The Lively Team
I've held my HSA $ with Lively for about a year and a half now and have just been sitting on the investments (for future expenditures) since I can't contribute anymore; I haven't had a high deductible HSA-qualified insurance policy for years. Of course I responded to the email but I haven't heard back from them yet. Has anyone else bumped into this already?

Makefile
Posts: 82
Joined: Fri Apr 22, 2016 11:03 pm

Re: Lively HSA: "no activity... acct will be closed..."

Post by Makefile » Mon May 20, 2019 4:21 pm

Is it possible you opened more than one Lively account, somehow? That sounds like a message that would be sent only for zero balance accounts.

mpsz
Posts: 375
Joined: Sat Jan 09, 2016 7:11 pm

Re: Lively HSA: "no activity... acct will be closed..."

Post by mpsz » Mon May 20, 2019 4:22 pm

What the above poster said... or another thought, do you possibly have $0.00 in your cash account? I've had $0.08 in my account for the longest time, with the rest in investments, and they have not bothered me.

Not that they should do anything in that case, but just another possibility.

Makefile
Posts: 82
Joined: Fri Apr 22, 2016 11:03 pm

Re: Lively HSA: "no activity... acct will be closed..."

Post by Makefile » Mon May 20, 2019 4:45 pm

On this topic, though, has anyone had a Lively account long enough to know when they get around to posting form 5498-SA? Waiting on mine as I did a rollover and want to make sure it posted correctly.

Topic Author
Angst
Posts: 2068
Joined: Sat Jun 09, 2007 11:31 am

Re: Lively HSA: "no activity... acct will be closed..."

Post by Angst » Mon May 20, 2019 4:54 pm

Makefile wrote:
Mon May 20, 2019 4:21 pm
Is it possible you opened more than one Lively account, somehow? That sounds like a message that would be sent only for zero balance accounts.
mpsz wrote:
Mon May 20, 2019 4:22 pm
What the above poster said... or another thought, do you possibly have $0.00 in your cash account? I've had $0.08 in my account for the longest time, with the rest in investments, and they have not bothered me.

Not that they should do anything in that case, but just another possibility.
Hmm, maybe that's it. I have upwards of $50,000 in the investment account, but $0.00 in cash. Maybe I'll transfer a few cents! Thank you to both of you. I'll get back with their email response once I have it.

[EDIT] Ok, so I just transferred 0.001% of that $50,000 into the cash account at Lively. I'll wait to see what happens.

mpsz
Posts: 375
Joined: Sat Jan 09, 2016 7:11 pm

Re: Lively HSA: "no activity... acct will be closed..."

Post by mpsz » Mon May 20, 2019 5:22 pm

Makefile wrote:
Mon May 20, 2019 4:45 pm
On this topic, though, has anyone had a Lively account long enough to know when they get around to posting form 5498-SA? Waiting on mine as I did a rollover and want to make sure it posted correctly.
I got mine in the mail today.

Topic Author
Angst
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Joined: Sat Jun 09, 2007 11:31 am

Re: Lively HSA: "no activity... acct will be closed..."

Post by Angst » Mon May 20, 2019 7:16 pm

So it looks like maintaining a positive (pennies) balance in cash would have been enough, although their reply suggests you'd still be OK with a zero balance in fact:
Lively in reply wrote:Thank you for confirming, this message was sent out to all individuals with no cash balance and no transactions on their HSA. Since you hold investments your account will not be closed and we will not require any further action from you.

We apologize for any confusion.

Regards,
The Lively Team
I do like Lively. Their response was prompt, polite and didn't appear canned, and I'd forgotten how nicely laid out their website is.

AerialP
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Location: Central Kentucky

Re: Lively HSA: "no activity... acct will be closed..."

Post by AerialP » Mon May 20, 2019 7:20 pm

Angst wrote:
Mon May 20, 2019 7:16 pm
I do like Lively. Their response was prompt, polite and didn't appear canned, and I'd forgotten how nicely laid out their website is.
:thumbsup
I've been enjoying my choice to go with them about 18 months ago.

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jhfenton
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Location: Ohio

Re: Lively HSA: "no activity... acct will be closed..."

Post by jhfenton » Tue May 21, 2019 8:47 am

Makefile wrote:
Mon May 20, 2019 4:45 pm
On this topic, though, has anyone had a Lively account long enough to know when they get around to posting form 5498-SA? Waiting on mine as I did a rollover and want to make sure it posted correctly.
Like mpsz, my wife and I received ours in the mail yesterday.

I transferred my Lively account out in November (through TD Ameritrade to Fidelity), but I received $0.02 interest in December from the cash that passed through the cash account in November. So my account is sitting there with $0.02 in it. I would just as soon they close it, but they probably won't with $0.02 in it.

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