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HSA Investment Fees

Lively · October 5, 2017 · 2 min read

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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.

Lively

Lively

Lively is the modern HSA experience built for—and by—those seeking stability in the ever-shifting healthcare landscape. By harnessing modern innovation and deep industry expertise, Lively is committed to bridging today’s savings with tomorrow’s unknowns. Unlike traditional institutions hindered by bureaucracy, Lively’s commitment extends beyond initial set up to providing dedicated, ongoing support and education for every step. So each HSA can reach its maximum potential with minimal headache.

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Benefits

2023 and 2024 HSA Maximum Contribution Limits

Lively · May 16, 2023 · 3 min read

On May 16, 2023 the Internal Revenue Service announced the HSA contribution limits for 2024. For 2024 HSA-eligible account holders are allowed to contribute: $4,150 for individual coverage and $8,300 for family coverage. If you are 55 years or older, you’re still eligible to contribute an extra $1,000 catch-up contribution.

comparing hsa versus fsa

Benefits

What is the Difference Between a Flexible Spending Account and a Health Savings Account?

Lauren Hargrave · February 9, 2024 · 12 min read

A Health Savings Account (HSA) and Healthcare Flexible Spending Account (FSA) provide up to 30% savings on out-of-pocket healthcare expenses. That’s good news. Except you can’t contribute to an HSA and Healthcare FSA at the same time. So what if your employer offers both benefits? How do you choose which account type is best for you? Let’s explore the advantages of each to help you decide which wins in HSA vs FSA.

Benefits of HSA employer matching

Health Savings Accounts

Ways Health Savings Account Matching Benefits Employers

Lauren Hargrave · October 13, 2023 · 7 min read

Employers need employees to adopt and engage with their benefits and one way to encourage employees to adopt and contribute to (i.e. engage with) an HSA, is for employers to match employees’ contributions.

Disclaimer: the content presented in this article are for informational purposes only, and is not, and must not be considered tax, investment, legal, accounting or financial planning advice, nor a recommendation as to a specific course of action. Investors should consult all available information, including fund prospectuses, and consult with appropriate tax, investment, accounting, legal, and accounting professionals, as appropriate, before making any investment or utilizing any financial planning strategy.

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