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How to Have a Smooth Renewal

Renewal time! It can be a stressful time for everyone, Advisors, Plan Admin’s, and even our own team, which is why we decided to put together a guide with our best tips on how to have a smooth renewal with myHSA.

For Advisors, you do not need to worry about:

  • Letting employees know about renewal. We notify all employees ahead of renewal and during the grace period/allocation window

  • We also attach the “Understanding Balances” PDF document so employees understand the terms carryover, reserve balance, and more

  • Plans auto renew with no intervention! We auto apply new funds, apply carryover and grace period (if applicable)

Prior to renewal for Advisors:

  • Run the “Renewal Report” to see which clients have an upcoming renewal

  • Run the “Utilization Report” for usage summary reports for your clients

  • Reach out to your client and see if there are any plan changes that are needed that can be logged in advance of renewal, including any employee changes between plans.

We strongly recommend notifying us of any changes by early December to ensure that our team is able to get the necessary changes done in time. If you need help with any of the above, please reach out to our live chat/support team.

To help make things run even smoother, we recommend sending the below instructions to your affected Plan Admin’s prior to renewal:

  • View the Plan details under “Settings” for a refresh on the plan setup

  • Run the “Utilization Report” to see the usage summary

  • If there are any plan changes or employee moves needed, please notify your Advisor in advance

Internally remind your employees about the allocation process, if applicable.

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