livelyme.com FAQ

What is Livelyme.com?

Livelyme.com is a platform that provides Health Savings Accounts (HSAs) and various flexible employee benefits solutions, including Flexible Spending Accounts (FSA), Health Reimbursement Arrangements (HRA), Lifestyle Spending Accounts (LSA), Medical Travel Accounts (MTA), COBRA, and Direct Bill, for individuals, employers, brokers, and consultants.

Read more about livelyme.com:
Livelyme.com Review: An Unethical Proposition for Muslims

Is Livelyme.com suitable for Muslims?

No, Livelyme.com is not suitable for Muslims because its Health Savings Accounts (HSAs) explicitly state that their “cash balance is insured and interest bearing.” Earning or paying interest (Riba) is strictly prohibited in Islam, making such financial products impermissible.

What are the main services offered by Livelyme.com?

Livelyme.com primarily offers Health Savings Accounts (HSAs) for individuals and employer groups, as well as employer-sponsored savings and spending accounts like FSAs, HRAs, LSAs, MTAs, and administrative services for COBRA and Direct Bill. Livelyme.com Review: An Unethical Proposition for Muslims

Does Livelyme.com charge fees for individual HSAs?

According to Livelyme.com, individual and family HSAs are free with “No hidden fees – ever.” However, optional investment options within the HSA may incur additional fees.

Is Livelyme.com FDIC-insured?

Livelyme.com states that Lively itself is not an FDIC-insured financial institution, but it partners with FDIC or NCUA insured financial institutions.

Your HSA account may be eligible for pass-through insurance under certain conditions, as per their disclaimer.

What is Riba, and why is it relevant to Livelyme.com?

Riba is an Arabic term that translates to interest or usury.

In Islam, Riba is strictly prohibited because it is considered an unjust gain that creates inequality and stifles real economic activity. Glowlabo.com Review

Livelyme.com’s HSAs are “interest bearing,” which directly involves Riba, making them impermissible for Muslims.

What are some Shariah-compliant alternatives for healthcare savings?

Shariah-compliant alternatives for healthcare savings include using halal savings accounts that are non-interest-bearing, investing in Shariah-compliant mutual funds for long-term growth, and participating in Takaful (Islamic insurance) for health coverage.

How does Livelyme.com simplify HR administration for businesses?

Livelyme.com simplifies HR administration through features like their File Sync tool for faster onboarding, a dashboard for effortless contribution management, and AI-driven approvals for quicker claims and reimbursements.

What is LivelyIQ?

LivelyIQ is a feature offered by Livelyme.com that includes dynamic tools and education designed to help employees make informed choices about their health plan and other benefits, providing personalized insights.

Does Livelyme.com offer 24/7 customer support?

Yes, Livelyme.com provides 24/7 employee support, which includes access to their top-rated support team (available from 6 a.m. to 6 p.m. glowlabo.com FAQ

PT) and an instant, personalized AI chatbot for on-demand answers.

What is the employer retention rate for Livelyme.com?

Livelyme.com claims to retain over 98% of the employers that choose them, indicating a high level of employer satisfaction.

How much have Lively HSA account holders reportedly saved in fees?

Livelyme.com states that their HSA account holders have saved over $24 million in fees, and counting, emphasizing their transparent and low-fee approach.

Can I invest my HSA funds with Livelyme.com?

Yes, Livelyme.com allows individuals to choose when and how to invest their HSA funds, though this is optional and may incur additional fees.

However, the underlying interest-bearing nature of the cash balance remains a concern for Muslims. glowlabo.com Alternatives: Ethical Illumination for Your Home

What is the pricing structure for businesses using Livelyme.com?

For businesses, Livelyme.com charges $2.95 Per Employee Per Month (PEPM), with a monthly minimum of $200 possibly applying.

They also offer preferred pricing for larger organizations upon contact.

Where can I find reviews for Livelyme.com?

Livelyme.com prominently features links to their reviews on Trustpilot and G2, where employers and individuals can read testimonials and ratings.

What are Flexible Benefits according to Livelyme.com?

Livelyme.com defines flexible benefits as saving and spending accounts, and other perks offered by employers that are optional for employees.

These can include pre- or post-tax contribution accounts and non-monetary benefits like professional development. glowlabo.com Pricing: Understanding the Cost and Value Proposition

How does Livelyme.com differ from other benefits providers?

Livelyme.com claims to differentiate itself through a focus on creating a better, easier-to-use benefits experience, unparalleled customer service, innovative features, and in-house built technology for easy setup and simple administration.

They also highlight their high customer satisfaction rating (NPS) and growth in the market.

What is the Employee Benefits Pulse Check report mentioned on Livelyme.com?

The Employee Benefits Pulse Check report is Livelyme.com’s third annual report identifying key stressors for benefits leaders, such as rising healthcare costs, employee financial stress, and challenges in benefits education.

It outlines what benefits providers need to combat these issues.

How can I contact Livelyme.com for sales inquiries for employers/brokers?

Employers, brokers, and HR teams looking to offer Livelyme.com services can fill out a form on the website’s “FOR EMPLOYERS, BROKERS & HR TEAMS” section to be contacted within one business day. How to Cancel glowlabo.com Subscription / Free Trial: Navigating the Unknown

Where can I find support if I am an individual account holder?

If you are an individual account holder or need personal support, Livelyme.com directs users to visit their Help Center at support.livelyme.com/hc/en-us.