A financial power of attorney (POA) is a legal document that one person can create to give another person legal authority to act on their behalf in the event they are unable to manage their own affairs. The person they appoint is called their agent or, in some states, their attorney-in-fact.

The specific powers granted in a Power of Attorney document are often listed out separately. For purposes of using a Power of Attorney document to act on a member's HealthEquity account, the document must include Powers granted to manage banking and other financial institution accounts.

There are two types of POAs that may be submitted to HealthEquity:

A durable POA goes into effect as soon as it is signed and notarized (or witnessed). This means that the agent is immediately authorized to manage the person's affairs and act on their behalf. The agent or attorney-in-fact will be authorized to act on their behalf for as long as the person who created the POA is alive. A durable POA continues to be in effect, even if the person becomes incapacitated. These types of POAs are valid from the date the document was signed until the death of the person who created the POA (or until the POA is revoked). To find out if a POA is durable, simply look for the term 'durable' in the document itself.

A springing POA does not go into effect unless a doctor certifies that the person who created the document has become incapacitated. The agent named in the document has no authority unless and until the person who created the document becomes incapacitated, at which time it 'springs' into effect. A springing POA states that doctor certification is required for the POA to be valid. In the case of a springing POA, HealthEquity needs to receive a copy of the doctor's letter as well as the POA itself before we can allow the agent access to the member's account.

1. Have a scanned or digitized copy of the POA (and any accompanying doctors' letters, if required) handy.

2. Go into your online account and follow the prompts to upload the document.