Yes, you can invest money through your HSA!
There is no minimum cash balance requirement to open an investment account, but you must invest at least $100 minimum per order. DriveWealth manages all investments.
Follow the steps below to get your investment account started.
- Log in to your Forma account
- Select “Benefits” from the top navigation
- Choose your HSA
- Select “My investments” from the horizontal menu above your available balance
- Open the “Manage investments” dropdown
- Select “Open investment account”
- You’ll then be guided through three important sections: personal info, financial profile, and disclosures.
- NOTE: Reach out to support@joinforma.com to make any changes to the information saved during the onboarding flow.
- Review all the details included in the previous steps, when satisfied click “Open investment account”
- After you complete the initial setup, we’ll open an investment account in your name. Then, you can decide if you want to make your first investment!
- Select how you would like to invest your HSA money: Automatic Investment or Manual Investment. NOTE: this flow shows the manual investment process.
- Choose how much of your available cash balance you want to invest.
- Then choose the funds you want to invest in. For more investing information, see What can I invest my HSA money in?
- Confirm your investment
You can also automate ongoing HSA contributions, ensuring they continue without needing regular attention. For more information on how to do this, see the article Setting up recurring HSA investments.