Lively

Name

Lively

Legal name

Lively, Inc.

Website

https://livelyme.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Employee Benefits Administration / Health Savings Accounts

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Health and Welfare Funds (525120), Insurance and Employee Benefit Funds (5251)

SIC

Hospital & Medical Service Plans (6324), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK)

akta.pro secondary industries

Benefits Administration (BPACAPAC), Eligibility, Enrollment & Benefits Administration (HLAEALAH), Benefits Administration & Enrollment Support (BPAAAIAB), Benefits Administration & Total Rewards Outsourcing (BPACAKAE), High-Deductible Health Plans (HDHP) with HSA-Eligible Coverage (FSAIAFAM)

Keywords

• Health savings accounts
• Employee benefits administration
• Consumer-directed healthcare
• HSA investment platform
• AI benefits platform

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Employer HSA Administration (PEPM): Lively charges employers a per-employee-per-month fee for HSA administration services. The platform offers $0 PEPM pricing (subject to $200 monthly minimum), providing revenue through employer subscriptions for benefits administration across HSA, FSA, HRA, LSA, and other account types.
2. Schwab Health Savings Brokerage Account Access: Optional investment management access through Charles Schwab's Health Savings Brokerage Account. Users can invest with no minimum for a $24 annual access fee, or invest above $3,000 with no access fee. Lively earns referral/integration fees from this partnership.
3. HSA Guided Portfolio by Devenir: Optional guided portfolio investment service with 0.50% annual management fee applied to invested assets. Lively earns a share of this management fee through its partnership with Devenir.
4. Individual HSA (Free): Free HSA accounts for individuals and families, driving user acquisition and platform scale. Revenue is generated indirectly through employer relationships and investment product partnerships rather than direct individual fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels6 records

Core offering

Lively operates an AI-powered employee benefits platform that administers Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), Lifestyle Spending Accounts (LSAs), Medical Travel Accounts (MTAs), COBRA, and Commuter benefits for U.S. employers and individuals. Its proprietary Lively Axis platform unifies benefits administration, healthcare spending, and investing with AI agents, smart debit cards, automatic claim substantiation, and integrations with major health insurance carriers.

Product overview

Lively is a flexible employee benefits platform offering a comprehensive suite of health and wellness account administration. The platform operates on a unified platform-plus-modules architecture centered on the Lively Axis AI-powered benefits intelligence platform, which connects all benefit types into one operating engine. The core product portfolio includes Health Savings Account (HSA), Flexible Spending Account (FSA), Health Reimbursement Arrangement (HRA), Lifestyle Spending Account (LSA), Medical Travel Account (MTA), COBRA & Direct Bill, and Commuter Benefits. Supporting infrastructure includes the Lively Mobile App, Lively Benefit Access Visa Card, and Lively HSA Visa Card. AI-powered features embedded in the platform include Lively AI Agent for 24/7 support, Lively IQ for enrollment guidance, Smart Claim Submission, Smart Stacked Card, Claim Sync, and Expense Scout. Investment options are available through partnerships with Charles Schwab (Schwab Health Savings Brokerage Account) and Devenir (HSA Guided Portfolio).

Differentiator

Problem solved

Functional benefit

Brands

• Lively Axis Platform: AI-powered benefits intelligence platform that connects every benefit plan, rule, and employer system into one operating engine for HR teams and employees.
• Lively HSA
• Lively FSA
• Lively HRA
• Lively LSA
• Lively MTA
• Lively AI Agent
• Lively IQ
• Schwab Health Savings Brokerage Account
• HSA Guided Portfolio

Products and services

• Lively Axis Platform AI-powered benefits intelligence platform that connects HSA, FSA, HRA, LSA, commuter, COBRA, Direct Bill, and Medical Travel into one unified system with a single dashboard for HR teams and a single app for employees. Built from the ground up rather than as stitched-together acquired tools.
• Health Savings Account (HSA) Tax-advantaged health savings account with triple tax advantage (tax-free contributions, growth, and withdrawals for eligible expenses). Supports investments via Charles Schwab and Devenir, with FDIC-insured cash balances and HSA debit card access for individuals with HDHP coverage.
• Flexible Spending Account (FSA) Tax-advantaged account for covering qualified medical expenses with pre-tax contributions, available in General FSA, Limited Purpose FSA, and Dependent Care FSA variants for employer-sponsored plans.
• Health Reimbursement Arrangement (HRA) Employer-sponsored account that helps employees pay for qualified out-of-pocket medical costs, available as Standard HRA, Post-Deductible HRA, and Dental and Vision HRA with customizable configurations.
• Lifestyle Spending Account (LSA) Highly customizable employer-sponsored reimbursement account for non-medical expenses including fitness, wellness, pet care, remote work, family planning, education, and team building. Funded post-tax by employers.
• Medical Travel Account (MTA) Employer-sponsored post-tax account that covers travel expenses for qualified medical care unavailable within a reasonable distance from the employee's residence. Compatible with HSAs, FSAs, and HRAs without compromising eligibility.
• COBRA & Direct Bill Health insurance continuation services for employees losing coverage, plus simplified payment administration for employers through the Lively Axis platform.
• Commuter Accounts Pre-tax commuter benefits for parking and transportation, allowing employees to save on payroll taxes for work commute expenses via the Lively Benefit Access card.
• Lively Mobile App iOS and Android mobile applications for managing HSA/FSA/HRA/LSA accounts on the go, featuring receipt capture, balance tracking, AI chat support, biometric security, two-factor authentication, and mobile wallet payments.
• Lively Benefit Access Visa Card Visa debit card that automatically validates expenses at national retailers and pharmacies, routing funds from the right account at checkout. Supports HSA, FSA suite, Standard HRA, and Commuter accounts with auto-substantiation.
• Lively HSA Visa Card Visa debit card for tax-free HSA spending on eligible healthcare expenses at point of sale with no substantiation required and automatic blocking at ineligible merchants.
• Schwab Health Savings Brokerage Account Self-directed investment solution from Charles Schwab offering access to stocks, bonds, mutual funds, and ETFs through the Lively HSA. Users can invest above $3,000 with no access fee or pay $24 annual fee with no minimum.
• HSA Guided Portfolio Portfolio management service by Devenir providing personalized portfolio mix based on risk preferences and time horizon with automated rebalancing. 0.50% annual fee on invested assets with no cash minimum required.

Quantifiable outcome

• 3-4x higher customer satisfaction (NPS) compared to industry average of 16-34
• +8 more outcomes

Named customers15 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability7 records

Feature9 records

Partnerships

Six partnerships are on record, tiered core.

• Charles SchwabcoreTechnology or IntegrationSchwab Health Savings Brokerage Account integration allows Lively users to access self-directed investment options including stocks, bonds, mutual funds, and ETFs through their HSA. Users can invest above $3,000 with no access fee or pay $24 annual fee with no minimum.
• DevenircoreTechnology or IntegrationHSA Guided Portfolio by Devenir provides personalized portfolio mix suggestions based on risk preferences and time horizon, with automated rebalancing. Lively charges 0.50% annual fee on invested assets.
• Choice Financial GroupcoreTechnology or IntegrationChoice Financial Group issues HSA debit cards, Member FDIC, pursuant to license from Visa or Mastercard. Provides FDIC-insured banking infrastructure for HSA cash balances.
• The Bancorp Bank, N.A.coreTechnology or IntegrationIssues the Lively Benefit Access Visa Card pursuant to license from Visa U.S.A. Inc. for accessing HSA, FSA suite, Standard HRA, and Commuter benefits.
• VisacoreTechnology or IntegrationLicenses Visa debit card infrastructure for Lively HSA and Benefit Access cards, enabling acceptance at millions of merchants worldwide where Visa is accepted.
• MastercardcoreTechnology or IntegrationLicenses Mastercard debit card infrastructure for HSA cards, enabling acceptance at merchants where Mastercard is accepted.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Optum (UnitedHealth Group): Optum administers HSAs and other consumer-driven health accounts as part of UnitedHealth Group's health services platform. It overlaps with Lively on HSA administration, especially in employer-sponsored benefits bundled with health plans.
• Bank of America HSA: Bank of America offers HSAs to employer clients as part of its broader banking, retirement, and benefits services. As a major bank incumbent, it competes on bundled financial services rather than modern HSA user experience.
• Voya Financial: Voya Financial provides HSA and broader employee benefits administration as part of its retirement and workplace solutions portfolio. It competes with Lively in the mid-market and enterprise benefits space via employer and broker channels.
• PayFlex (Aetna/CVS): PayFlex is a benefits administration platform offering HSA, FSA, HRA, and COBRA services, owned by Aetna/CVS Health. It serves employers through health-plan-integrated distribution and is a comparable incumbent competitor.
• Fidelity HSA: Fidelity offers an HSA as part of its broad 401(k), brokerage, and workplace benefits platform, serving both individuals and employers. As a large incumbent, it competes on integrated financial services and brand trust rather than best-of-breed HSA technology.

Direct peers

• Further: Further is a tech-forward HSA and benefits administration platform targeting employers and individuals with a modern user experience and integrated HRA/FSA offerings. It directly competes with Lively's modern, AI-driven positioning in mid-market benefits.
• HealthEquity: HealthEquity is the largest independent HSA custodian and benefits administrator in the U.S., offering HSA, FSA, HRA, and commuter accounts to employers and individuals. It is Lively's most direct competitor, with overlapping product suite, enterprise sales motion, and broker channel distribution.
• HSA Bank (Webster Bank): HSA Bank is a division of Webster Bank that provides HSA, FSA, HRA, and COBRA administration to employers and individuals. It competes head-to-head with Lively in the employer HSA market via banks and benefits brokers, with comparable product breadth and a bank-partnered model.

Emerging players

• PlanSource Benefits Platform: PlanSource is a benefits administration and decision-support platform that handles benefits enrollment and may integrate or bundle HSA offerings. It represents an emerging channel competitor for benefits-stack consolidation.
• Bend Financial: Bend Financial is a newer HSA-focused platform offering modern employer-sponsored HSA administration with a tech-forward experience. It is an emerging niche competitor overlapping with Lively's employer GTM and product positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/livelyhsa
• LinkedInlinkedin.com/company/livelyhsa
• Facebookfacebook.com/livelyhsa

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds5 records

Investors20 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lively