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Can I invest my HSA money?

  • Updated

Yes, you can invest money through your HSA! Forma partners with DriveWealth, a regulated brockerage provider to offer HSA investment accounts.

Before you begin

Before investing your HSA funds, keep the following in mind:

  • Investments are not FDIC insured and may lose value.
  • You can only invest available HSA cash balances.
  • The minimum investment amount is $100 per order.
  • You can sell your investments and transfer the funds back to your cash balance if you need to use them for eligible medical expenses.
  • All investments involve risk, including the possible loss of principal.
  • Forma does not provide investment advice. Consider your individual financial circumstances and investment goals before making investment decisions.

Opening an HSA investment account

Follow the steps below to get your investment account started.

  1. Log in to Forma
  2. Select "Benefits" from the top navigation bar
  3. Select your "Health Savings Account (HSA)"
  4. Select the "My investments" tab
  5. Select the "Manage investments" dropdown
  6. Select "Open investment account"

  1. You’ll be guided through three 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.

  1. Review all the details included in the previous steps, when satisfied click Open investment account. 

  1. After you complete the initial setup, we’ll open an investment account in your name. This typically happens shortly after onboarding is complete. Once your investment account is active, you can browse the available investments, choose what you’d like to invest in, and make your first investment.

Selecting your investments

1. Select how you would like to invest your HSA money: Automatic Investment or One-time Investment. NOTE: this flow shows the one-time investment process. image (13).png 

2. Choose how much of your available cash balance you want to invest.

3. Choose ETF(s) to invest your designated funds. To learn more, see What can I invest my HSA money in?

4. Confirm your investment

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You can also automate ongoing HSA contributions, ensuring they continue without needing regular attention. To learn more, see Setting up recurring HSA investments.

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