Yes. Unlike other savings accounts, the HSA has no provision insisting you "use or lose" your account dollars at the end of the year. Any funds you do not use in a given plan year remain in your interest-bearing account for future qualified medical expenses. Over time you can build a nest egg of savings. You can elect to move some of your HSA dollars into an HSA Investment Account.

Your BenefitWallet HSA begins with an FDIC-insured, interest-bearing checking (transactional) account; all HSA deposits are first credited to this account. Once your HSA checking account balance reaches $1,000, you may:

  • Elect to transfer the excess balance to an HSA Investment Account.
  • Transfer additional HSA dollars from your HSA checking account to your HSA Investment Account or add additional investment options online.
  • Establish an automatic investment schedule, which allows you to make regularly scheduled investments each month. You specify up to two days per month and a dollar amount you would like to invest (you may modify the days and the dollar amounts online) and that amount is automatically transferred from your HSA checking account to your HSA Investment Account.

Your HSA Investment Account offers over 25 investment options from a variety of fund families.

No. Contributions, interest, investment earnings and withdrawals (for qualified medical expenses) are not taxed for federal income tax and state income tax (in most states). Current taxes and IRS penalties may apply to nonqualified withdrawals. (For a list of qualified medical expenses, visit the IRS Web site at www.irs.gov)

There is no minimum investment. That means that your initial investment minimum can be as little as $1.00, once your HSA checking account balance reaches $1,000.

You can move your assets among investments as often as you like. You will have access to your HSA Investment Account online, 24 hours a day and 7 days a week (other than during periods of scheduled maintenance).

No. You can transfer HSA dollars back and forth between your HSA checking account and your HSA Investment Account online, at any time.

It is important to know that funds are not automatically transferred from your HSA Investment Account into your HSA checking (transactional) account to cover your qualified medical expenses. You must move funds to cover your HSA checks, debit card and online transactions.

The following investment options are available to you:

The chart below provides the step-by-step instructions for setting up an HSA Investment Account:

Steps to Creating Your HSA Investment Account:
Step #1 Log on To your HSA Web site. (The Web site address can be found on your BenefitWallet HSA statement.)
Step #2 Click The "Investments" link
Step #3 Click "Continue", after reviewing the disclaimer.
Step #4 Click "NEXT", after reviewing the disclaimer.
Step #5 Create Your HSA Investment Account:
Step #5(a)   Once you have reviewed what you will need to register a new HSA Investment Account, click "NEXT".
Step #5(b)   Verify your e-mail address, answer questions about your basic investment goals and occupation (unless you are employed by a bank or broker/dealer, you will skip the section that requests employer details). Click "NEXT".
Step #5(c)   The 4 authorization boxes. Click "NEXT" to acknowledge and agree to the HSA Investment Account terms specified.
Step #6 Click "NEXT" to acknowledge your successful HSA Investment Account registration.
Step #7 Click "ADD INVESTMENT" on the "Portfolio" screen.
Step #8 Check Your investment. Note: If you need help selecting an investment, refer to the Assessment Wizard found in the upper right of the screen. Click on "NEXT".
Step #9 Enter An "Invest From" account and a "Dollar Amount" (you may also establish an Automatic Payment schedule on this screen). Click "NEXT".
Step #10 Click "NEXT" after verifying the information you are requesting is correct.
Note: Only one HSA investment selection may be added to your portfolio at a time. If you would like to add another investment, return to the "Portfolio" screen and repeat steps #8-11.