We’ve partnered with WealthCare Saver HSA to provide you a simple way to grow your HSA fund by investing. HERE is the list of available investment options.
To qualify for an investment account, you'll need a minimum amount of $1,000 in your HSA balance. There’s a monthly $2.50 maintenance fee for the investment account with Devenir. If you go below the $1,000 threshold, you'll be unable to add funds to your investment account. You will have to wait to add funds until your HSA account balance is above the threshold from an HSA deposit.
Please note that you can only invest funds that are over $1,000 in your HSA account. For example, if there's $1,500 in the HSA account, the available investment amount is $500.
-
To open an investment account, please go to your Forma Portal → Accounts → HSA → Manage → Pay Myself → Investment.
-
Click the “Apply for an Investment Account” button below.
-
Read, understand, and agree to the HSA Investment Terms and Conditions, check the confirmation box if you consent and click Submit.
-
The below screenshot will appear confirming enrollment. The application will process within 2-3 business days.
-
Once the account is opened, you can click the View/Trade button to be redirected to your HSA investment portal. You’ll be able to invest in selected mutual funds.
HSA earnings from interest, investment gains, or investment dividends are tax-free. However, eligible HSA earnings are taxed in a few states (e.g., New Hampshire and Tennessee). Please be sure to consult your tax professional for details specific to your situation.
**Please note**: The money in your investment account is not available for use for your medical expenses. Before you can pay for eligible expenses and use the debit card, the money has to be transferred back into the savings account.
If you lose the money in the investment, then they are gone. All **investments** involve the **risk** of losing capital.
If you have any questions, please feel free to reach out to our Member Experience Team via live chat, email support@joinforma.com, or call us at 844-902-2902.