Key benefits: HSA Invest
- The best way to benefit from all three tax perks
- Excellent complement to your 401(k) or retirement account
- Offers a seamless experience to manage your saving, spending and investing
- Backed by advisory services and support from a registered investment advisor (RIA)
- Liquidate investment funds at any time to pay for IRS-qualified expenses
HSA investment options that work for you
HSA Bank’s HSA Invest program offers multiple investment options that are designed to work with your HSA and align with your financial goals. And you're able to enroll in more than one option!
Choice
You choose from a large range of options
This option offers a brokerage experience where you select from a large range of stocks, mutual funds, exchange-traded funds (ETFs) and more. This option may be appropriate if you're an experienced investor.
Select
An RIA provides a recommended list of mutual funds
Get a recommended list of mutual funds, specific to your risk tolerance and investment objectives. All funds are selected by an RIA, organized by asset class and aligned to your investment profile. This option gives you guidance and the opportunity to make the final decision about your investments and allocations. You’ll complete a short HSA risk-tolerance questionnaire and can then invest in the recommended list of funds.
Managed
An RIA completely manages your investments
Get an even higher level of investment management, where the RIA provides periodic portfolio review and rebalancing based on your defined investment strategy. This option lets you go beyond the tailored guidance in the Select option and have your investments completely managed by an RIA. You’ll complete a short HSA risk-tolerance questionnaire, and your responses will be used by the RIA to manage your investments.
You may be required to keep a minimum HSA cash balance to invest funds in the program. For employer-sponsored accounts, you may have one or all of the investment options based on your benefits; your option(s) will show in your online account.
What is an HSA risk-tolerance questionnaire?
The HSA risk-tolerance questionnaire is a short form you take when you enroll in certain investment options. You’ll answer questions to define your investment objectives, time horizon to meet goals and comfort level with investment risk and determine the right mix of investments: conservative, moderately conservative, moderate, moderately aggressive or aggressive.
Simple and efficient investment management
HSA Invest offers seamless management for saving, spending and investing all in one platform.
- Immediate enrollment: Enroll any time so when you meet the required balance threshold, the investment program will automatically activate. Funds remain in your HSA cash balance until invested so you can use them for qualified healthcare expenses.
- Funding and trading: Same-day funding and auto-funding features allow new funds to go directly into investments. Plus, you can access real-time and fractional share trading (during market hours). Dividends and interest are automatically reinvested.
- Integrated experience: Fully manage your investments alongside your HSA cash balance from your online account and the HSA Bank app. View your account history, trades, access and update your risk assessment and more.
How to invest HSA funds
Log in to your account.
Go to Manage Investments and select Enroll in HSA Invest.
Review investment options and fees, complete a questionnaire (if applicable) and make your selection.
Provide required information, agree to investment disclosures and set up automated funding (optional).
Continue to manage your investments in your online account and app.
Pricing
Annual asset-based fees may be applied on a quarterly basis and deducted from the investment balance; they may vary if your HSA is offered through your employer. Fees are waived for any quarter when your average HSA cash balance for that quarter is $7,500 or more.
| HSA Invest option | Current standard annual fee |
|---|---|
| Choice | 0.10% |
| Select | 0.25% |
| Managed | 0.35% |
View exact annual fees on your online account under Manage Investments.
Annual fee examples
While your fees may be paid quarterly, this table illustrates the total cost over the year. For every $1,000 you invest, you’d pay $0.25 quarterly ($1.00 annually) for Choice, $0.62 quarterly ($2.50 annually) for Select and $0.87 quarterly ($3.50 annually) for Managed.
| Annual fee total | |||
|---|---|---|---|
| Investment balance | Choice | Select | Managed |
| $1,000 | $1.00 | $2.50 | $3.50 |
| $5,000 | $5.00 | $12.50 | $17.50 |
| $10,000 | $10.00 | $25.00 | $35.00 |
| $25,000 | $25.00 | $62.50 | $87.50 |
| $50,000 | $50.00 | $125.00 | $175.00 |
*This list may change as the investments are continuously monitored by the RIA.
| Not Insured by FDIC or Any Other Government Agency | Not Bank Guaranteed | Not Bank Deposits or Obligations | May Lose Value |
|---|
Past performance is not indicative of future results.
Annual asset-based fees may apply and are deducted from the investment balance on a quarterly basis. Accountholders can view exact fees in their online account.
DriveWealth, LLC, a registered broker-dealer and Member FINRA/SIPC, is the clearing broker and custodian of your assets in the HSA Invest program. Investment advisory services are offered through Precision Fiduciary Partners, LLC, an SEC-registered investment advisor. Registration does not imply a certain level of skill or training. Additional information about Precision Fiduciary Partners can be found in its Form ADV Part 2, Form CRS and Privacy and Cookies Policy, which are available to the accountholder in their online account.
HSA Bank is not registered as a broker-dealer or investment advisor. Neither HSA Bank nor DriveWealth provide investment advice to HSA Invest program investors. HSA Bank, DriveWealth and Precision Fiduciary Partners are not affiliated, not responsible for the products and services offered or provided by the other and do not provide legal or tax advice.
The Mesirow and Precision Fiduciary Partners, LLC names and logos are registered service marks of Mesirow Financial Holdings, Inc. Mesirow refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates.
