HSAs have only been around since 2004, yet traditional financial institutions burdened them with hidden fees from the onset. Even newer, HSA investments can also carry hidden fees and limits which have the potential to impact your investment growth and financial returns. Here's what to look out for to make the most of your HSA investment.

Common HSA investment fees

• Account opening fee: these are not super common, but are part of some HSA platforms. Account opening fees are a one-time fee to start investing.

• Monthly or yearly fees: These are common fees for HSA investments and can vary by provider and type of investments. Sometimes they depends on account balances. Keep in mind that your investment account must grow enough each year to cover these costs, otherwise, you will lose money in your HSA.

• Investment platform options: allows users to select the investment options that works best for them and some HSA platforms offer both self-directed accounts or pre-selected mutual funds. However, there can be fees to access both platforms. So do your research to determine which investment platform options works best for you.

• Trading fees (buying and selling): many self-directed accounts can have additional trading fees. Keep in mind, there are often fees for buying and selling your investments, that will affect your investment returns. Do your research or consult an investment professional to see what investments will work the best for your HSA savings.

Lively’s industry-leading investment solutions are easy to access through your dashboard and there are no cash minimum requirements to start investing.

Common restrictions

One of the most common restrictions for HSA Investments are minimum account balance requirements. While this has no cost to your actual HSA balance, it can have a large impact on the return of your HSA investments because you must wait to invest. Time is money and HSA investments are subject to this basic financial pillar. The sooner you can invest, the more opportunity you can have to see returns on your investments. Review your HSA platform's terms to understand how soon you can invest. At Lively you can invest from Day 1, no minimum required.