You can invest your pre-tax HSA money with WealthCare Saver's trusted investment partner.
Invest money
Once your HSA deposit account has a minimum balance of $1,000, you can invest any additional 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.
Steps:
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Go Forma → Accounts → Health Savings Account → Manage HSA → Pay Myself → Investment → Apply for an Investment Account. If a new window does not open automatically, check and disable your pop-up blocker within the browser window.
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Once your investment account is open, go to Investment → Transfer to investments.
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Enter your transfer amount and click Submit.
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"Available to invest" is the maximum you can invest today due to the minimum balance requirement. Your HSA deposit account should maintain at least $1,000. Once funds are transferred to your HSA investment account, the amount of the transfer cannot bring the balance of your HSA below your investment threshold.
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A window will open to confirm that your transfer was submitted successfully. Read the information regarding transfer timing and click Close.
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You should then see the transaction as a Pending Transfer at the bottom of your HSA Investment details page.
When you move money from your HSA to the investment account the following schedule applies:
Day 1*: Schedule a transfer into the investment account before 1:00 PM ET. Shares are bought at the close of business.
Day 2: The transfer amount is included in the investment account balance.
*Please note timing is business market days.
Please note that there will be a monthly investment fee associated with the investment account.
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 deposit account.
Any money lost in investment is gone. Before investing, please be aware that all investments involve the risk of losing capital.
Liquidate investments
Transfer your HSA money from an investment account back to your Forma deposit account.
Steps:
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Go to Forma → Accounts → Health Savings Account → Manage HSA → Pay Myself → Investment → View/Trade. If a new window does not open automatically, check and disable your pop-up blocker within the browser window.
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You'll be directed to a new page. Go to Invest → Move Money at the top menu.
The system will sell mutual funds up to the amount entered in the Transfer Amount field. Sells for transfers back to the base account are pro-rata according to your current investment allocations from your investment account.
For example, if you are requesting $100 and you are invested 70% in Fund A, 20% in Fund B, and 10% in Fund C, the $100 will be pulled $70 from Fund A, $20 from Fund B and $10 from Fund C.
When you move money from your investment account to the HSA deposit account the following schedule applies:
Day 1*: Schedule a transfer out of the investment account before 4:00 PM ET. Liquidation of shares is executed at the close of business.
Day 2: Transfer out is reflected in your investment account balance.
*Please note timing is business market days.
*It takes 1-2 business days to transfer money to/from your HSA investment account and the transferred funds are available in 2-4 business days.
If you have any questions about this, please reach out to our Member Experience Team at support@joinforma.com or send us a live chat message through your Forma mobile app!
For questions regarding pre-tax accounts (HSA, FSA, DCFSA, etc.) you can also reach us by phone at 844-902-2902 Monday through Friday, 8 AM EST - 8 PM EST. We're here to help!