1. Log in to your account.

Use your existing username and password. You only need to create a username and password if you haven’t accessed your account online before.

If you access the Member Website from a third-party site, like your employer benefits site or insurance site, access as you normally do.

2. Go to Manage Investments.

3. Begin HSA Invest enrollment process.

Watch the demo.

Note: Once you enroll in HSA Invest, one-time, auto-sweep and recurring transfers to Devenir and Schwab will be canceled

Once available, you can access the new investment program on the Member Website under Manage Investments.

You can continue to access your existing investments with Devenir and Schwab on the Member Website under Manage Investments.

Call the number on the back of your HSA Bank Health Benefits Debit Card for help from HSA Bank Client Assistance Center representatives.

We actively review what we offer you, and are pleased to present HSA Invest. This new program offers a seamless investment solution with multiple options. HSA Invest will give you more ways to access and manage the investments in your HSA with a host of enhanced features like:

• Money remains in your HSA cash balance until it’s invested, so it’s available for qualified medical expenses if you need it.
• Dividends and interest are automatically reinvested.
• Same-day enrollment, funding and trading means there’s no lag between buying and selling your investments.
• Better integration of cash balance and investment funds on one site and one app.
• Simplified process to enroll and invest.

You may have been impacted by an investment program change in 2023, which was outside HSA Bank’s control. HSA Bank had a long-standing relationship with TD Ameritrade to provide investment options to accountholders. Then, TD Ameritrade, Inc. was acquired by Charles Schwab. In September 2023, Schwab moved all TD Ameritrade accounts to Schwab, including those of HSA Bank accountholders. 

The launch of HSA Invest is the first change initiated by HSA Bank, which happened to be in the same 12 months as the TD Ameritrade to Schwab transition. 
 

You may be required to keep a minimum in your HSA cash balance to invest. Details are available on the Member Website under Manage Investments.

The annual fees are 0.10% for Choice, 0.25% for Select and 0.35% for Managed. HSA Invest annual fees for Select and Managed will be waived through 2024. Annual fees for Choice will be waived through 2025.

The fees are assessed on a quarterly basis and deducted from the investment balance. The fee is calculated on a percentage basis on the fair market value (FMV) on the last day of each quarter. 

For every $1,000 you invest you’d pay $0.25 quarterly for Choice, $0.62 quarterly for Select and $0.87 quarterly for Managed.

HSA Invest annual fees are waived for any quarter when your average HSA cash balance for that quarter is $7,500 or more.

If your HSA is through your employer, log in to your account for specific fees.

Yes. When you enroll in HSA Invest you can set up automated funding. You can also set up automated funding after enrollment. Log in to your account, go to Manage Investments then Current Holdings to set up automated funding.

Yes. When you enroll in HSA Invest you can set up automated funding. You can also set up automated funding after enrollment. Log in to your account, go to Manage Investments then Current Holdings to set up automated funding.

Automated funding lets you move HSA funds into your investments and automatically trades according to the allocation you set. Here's what you need to know:

• Timing: Automated funding occurs daily between noon and 2 p.m. CT on market days.
• Deadline: To ensure your funds are moved and traded on the same day, set up automated funding before noon CT.
• Instant, one-time buy versus automated funding: If you prefer immediate trading, go to Available Investments and select Buy. This lets you buy stocks or ETFs instantly during market hours.

View all funds available in your online account or download the list. 

This list may change as the investments are continuously monitored by the SEC-registered investment advisor.

The Choice option includes over 6,500 investments including those from American Century Investments, Clearbridge Investments, Dimensional Fund Advisors, Fidelity Investments, Franklin Templeton, Putnam Investments, Royce, Schwab, T. Rowe Price, Vanguard and more.

As of Aug. 15, there are two money market funds: Federated Hermes Government Obligations Fund (GOIXX) and Fidelity Government Money Market Fund (SPAXX).

Download the list of available investments in the Choice option. This list may change as the investments are continuously monitored by the SEC-registered investment advisor.

Yes, as part of the HSA Invest program, dividends are automatically reinvested to help maximize your investment growth. By enrolling in the HSA Invest program, you agree to this automatic dividend reinvestment. There’s no option to opt-out of dividend reinvestment.

All trades placed after 4 p.m. ET will be executed the next business day.

The HSA Invest program is designed to prioritize the stability and growth of your HSA. As such, options trading is not supported, as it doesn't align with the primary goals of an HSA. However, to help you build a well-rounded investment strategy, we offer a range of investment choices including mutual funds, stocks, and ETFs. These investments could help you grow your savings over time while maintaining the security and flexibility needed for healthcare expenses.

There’s no tax implication for liquidating your investments with Schwab, Devenir or HSA Invest because the investments are all part of your overall HSA with HSA Bank. The tax implication occurs when funds are distributed to either a provider or the accountholder to pay for eligible expenses. Form 1099-SA is issued at this time. This applies to residents of California and New Jersey as well, even though HSAs are taxed differently in these states.

HSA Bank does not provide tax or legal advice. Consult a qualified tax professional for assistance.

In September, the Schwab HSBA program will change to sell-only (no new purchases allowed). You can enroll in the Choice option beginning in July to invest new HSA funds. You may choose to liquidate your Schwab HSBA securities and transfer cash to your HSA cash balance.

Selling all your securities in your Schwab HSBA.

Yes, you can liquidate your Schwab assets and transfer them to your HSA cash balance to trade in the new HSA Invest program.

Log in to your Schwab HSBA and liquidate your securities. When all trades have settled, log in to your HSA, go to Manage Investments, and select Make a One-Time Transfer from the Manage Your Account drop-down menu to schedule a transfer of your Schwab HSBA available balance to your HSA cash balance.

You may liquidate your Schwab assets and transfer funds to your HSA cash balance, then invest your funds in HSA Invest. If you self-liquidate, there’s no fee. You may be charged certain account activity fees by Charles Schwab for assistance with liquidation. Please reference the Charles Schwab Pricing Guide for Health Savings Accounts for fees.

Assets from Schwab cannot be transferred to HSA Invest through an Automated Customer Account Transfer (ACAT) at this time.

HSA Invest offers unique benefits when compared to the existing Schwab Health Savings Brokerage Account (HSBA) option. 

When the Schwab HSBA program transitions to sell-only on or about Sept. 24, you’ll have the flexibility to keep your CD. There's no need to sell your CD before your Schwab investments become sell-only.

After the Schwab HSBA program becomes sell-only, dividends will continue to be reinvested in existing Schwab HSBA investments since dividend reinvestment is not considered to be an investment buy.

Many of the investments in the Schwab Health Savings Brokerage Account (HSBA) program are available in HSA Invest. However, certain investment types are not offered in HSA Invest. That’s because the HSA Invest program is designed to prioritize the stability and growth of your HSA. HSA Invest offers thousands of investments including mutual funds, stocks, and ETFs that can help you grow your savings over time while maintaining the security and flexibility needed for healthcare expenses.

These investment types aren’t available in HSA Invest:

•    Certificate of deposit
•    Collateralized mortgage obligation
•    Commissioned fixed income
•    Corporate bond
•    Escrow
•    Foreign denominated debt
•    Marketplace load funds (equity)
•    Marketplace load funds (fixed income)
•    Marketplace money market funds
•    Mortgage-backed pass through - FNMA
•    Municipal bond
•    GNMA
•    Offshore funds
•    OneSource equity & fixed income funds
•    Options
•    Reorganized debit and stock
•    Schwab money market funds
•    Schwab variable NAV funds
•    Treasury bill
•    Treasury coupon
•    Treasury Inflation-Protected Securities
•    Treasury strip
•    Unit investment trust (UIT) – stock-based
•    U.S. agency bond
•    U.S. denominated debt 
 

Some investments in the below categories aren’t available in HSA Invest. If you have holdings in one of these investment categories call the number on the back of your card or review the list of unavailable investments to find out if your specific holding is impacted.

•    American depositary receipt
•    Mutual funds
•    Common stock
•    Convertible preferred stock
•    Foreign Canadian and ordinaries
•    Limited partnership
•    Mixed unit
•    Preferred stock
•    Real estate investment trust
•    Synthetic preferred (fixed rate capital securities)
•    Unit investment trust (UIT) – exchange-traded 
•    Unlisted foreign ordinaries
•    Warrant

Beginning on or about Sept. 24, 2024, all Schwab HSBA investments are sell only and no new purchases are allowed. Any Schwab HSBA holdings that are not offered in HSA Invest cannot be transferred to the HSA Invest program. 

You can choose to liquidate these investments or keep them in sell-only status. Liquidating these investments allows you to purchase new similar investments and set up automated investment funding in HSA Invest.

If you have liquid balances from dividends or sales in your Schwab account, these will be transferred to your HSA cash balance twice per week, making it easier for you to reinvest through HSA Invest. You'll see the cash credited to your account on Tuesdays and Fridays. If you chose to have your dividends reinvested, they will continue to be reinvested in your Schwab account as usual.

If you enroll in HSA Invest, one-time, auto-sweep and recurring transfers to Devenir will be canceled. You can still move money between existing funds and adjust asset allocations.

You’ll have access to trade and manage your investments, but in September, transfers and sweeps from your HSA cash balance will stop. You can still move money between existing funds as well as adjust asset allocations. Auto-rebalancing will continue as scheduled. You may choose to liquidate and transfer your assets to your HSA cash balance. Then, in 2025, all assets will transfer to the HSA Invest Select option. Details will be shared in the coming months, but this transfer won’t occur before Feb. 1, 2025.

You will need to enroll in the new program to continue investing your HSA funds. You may liquidate and close your Devenir program, or transfer securities that are supported in the new program.

Log in to your HSA, go to Manage Investments, and select Make a One-Time Transfer from the Manage Your Account drop-down menu to schedule a transfer of your Devenir available balance to your HSA cash balance.

You may liquidate your Devenir assets and transfer funds to your HSA cash balance, then invest your funds in HSA Invest.

Assets from Devenir cannot be transferred in kind to HSA Invest at this time. A transfer in kind will be initiated by HSA Bank on your behalf in 2025. Details will be provided.