Forma Admin > Benefit Funds
To learn more about logging into Forma Admin, see How do I access Forma Admin?
The deposit account ensures Forma has funds available for card transactions and approved claim reimbursements. A deposit account is required for FSA, LPFSA, DCFSA, Commuter, and HSA benefits. For employer-sponsored benefits and HRAs, deposit accounts are optional.
Getting Started
The deposit account setup process differs for public and private companies. Forma will share specific instructions tailored to your company's classification during implementation.
Linking your Bank Account
After you open a Forma deposit account, you will need to link an external bank account as a funding source so Forma can pull funds from this bank account to the deposit account.
Bank account linking is processed using Plaid. To learn more about how to link a bank account, see Linking your bank account to your deposit account.
Settings
Under "Settings", you can add, edit, or remove your external bank account and review the funding settings.
Adding Funds
Once your external bank account is linked, you'll need to submit an initial deposit. Your Forma Implementation Manager will provide the exact amount required; typically it is 6-10% of the total benefit budget for the year. This pre-fund deposit must be completed before your go-live date.
To learn more, see How is the pre-funding amount calculated?
For additional security, you will be asked to perform 2-factor authentication (2FA) when linking a bank account or adding funds to the deposit account. The security code will be sent to the logged-in admin's email address.
Once the 2FA is completed, you can continue the process and transfer funds from the external bank account to Forma deposit account.
Auto top-up
On a weekly basis, Forma will automatically top up the deposit account to the predetermined threshold. To learn more, see Managing your deposit account top-ups with Forma