If you offer a pre-tax benefit account (Health FSA, Dependent Care FSA, HSA, Commuter) managed by Gusto (including the broker integration), you will see debits to your company’s primary bank account which are used to fund these accounts. Gusto does not have access to your company's bank statement—reach out to your bank for this.
Note: If you only use Gusto to report on a pre-tax benefit account that you manage outside of Gusto, this article does not apply.
Important: To allow debits for your pre-tax benefit accounts with Elevate, you must contact your company's primary bank and whitelist the ACH code 1854135510. If you change your company's primary bank account in the future, don't forget this requirement. Failure to whitelist the code could result in your team’s accounts being temporarily locked or HSA deposits reversed.
An HSA is an employee's personal bank account. This means their account is funded when payroll deductions are taken and deposited into their HSA.
Here are the details about when to expect debits and what they look like:
Health FSAs (FSA), Dependent Care FSA (DCFSA), and commuter benefits are referred to as “notional accounts.” This means the accounts' balances are linked to your company bank account. Instead of funds being debited for each payroll deduction, funds are debited when employees use them.
Here are the details about how often to expect debits and what they look like:
To reconcile pre-tax benefit account debits, you can download a report from the Reports section of your Gusto admin account.
The report you should choose depends on the debit you want to reconcile:
You will be able to filter by the date of the debit.
The report lists the contributions and/or expenses by invoice. Each invoice relates to a specific lump sum debit.
The process for resolving a failed funding debit depends on the type of debit that was rejected.
Gusto HSA contribution
If an HSA contribution debit fails, your company’s payroll admin is notified and your team’s deposits will be immediately reversed. Once the issue has been resolved, forward this email to Gusto support and Gusto will redeposit the funds.
Note: Because the second deposits are made individually, you will receive separate invoices and debits on your bank account for each deposit.
Gusto replenishment
If a Gusto replenishment debit fails, your company’s payroll admin will be notified via email and your team’s accounts will be temporarily locked until the failure is resolved. The debit will be automatically reattempted 3 times, giving you the opportunity to solve the issue as soon as possible. If the third and final attempt fails, Gusto will step in to attempt a resolution with you. Your team’s accounts will not be unlocked until the debit is successful.