Personnel information allows us to create a separate, secure bank account (called an FBO account) to safely hold your group’s health plan funds, including monthly premiums and claims funding.
Why is personnel information required?
Personnel details are required solely to meet our banking partner’s compliance requirements. This information is not used for plan administration or day-to-day management.
Specifically, it allows us to:
- Create a dedicated “For the Benefit Of” (FBO) account for your group’s claims funds
- Verify business ownership and control as required under federal banking regulations (KYB / KYC)
Where do I input personnel information?
As the employer or designated HR representative, log in to the portal and navigate to the Personnel tab in the left-hand sidebar.
Who should be listed on the Personnel tab?
- One primary representative
Typically the person who manages the group’s relationship with the portal (e.g., the group admin, HR director, or business owner who signed up). This person must also be either an executive or an owner. - All beneficial owners
Anyone who owns 25% or more of the business entity. This is a federal regulatory requirement, and all individuals above this threshold must be listed. - At least one executive
A senior manager (CEO, CFO, etc.) of the company. - Board members (if applicable)
Anyone who serves on the company's governing board.
In practice:
For most small-to-mid employer groups, this is usually just 1–2 people: the business owner (who is often the representative + owner + executive) and possibly a co-owner. Larger companies may need to list multiple beneficial owners and executives.
This information is strictly for our banking partner’s compliance — it’s not about who administers the group on the portal.
What information is required?
The image below shows all required fields for each person listed. Please ensure all details are accurate and up to date.
What do the fields at the top mean?
- "Is Primary Owner" (
representative)
Designates the primary individual who can act on behalf of the business for compliance purposes.- Only one person can hold this role at a time
- If selected for a new person, it will automatically remove the designation from the previous one
- This person must also be an Executive or Owner
- "Is an Executive" (
executive)
Indicates the person holds a senior management role (e.g., CEO, CFO, COO, VP, etc) — someone with significant management responsibility. - "Has over 25% equity" (
owner)
Indicates the person owns more than 25% of the company. When selected, a Percent Ownership field will appear to capture their exact ownership percentage. This is a standard beneficial ownership threshold required by financial regulations (FinCEN/KYC). - "Is on a governing board" (
director)
Indicates the person serves on the company’s board of directors or equivalent governing body.
These designations are required by our banking partner to satisfy Know Your Business (KYB) requirements for your group’s connected FBO account.
Minimum Requirement
At least one person must be listed and must have:
- Is Primary Owner checked and
- Is an Executive or Has over 25% equity checked