You work hard for your money. Saving it takes even more willpower. It’s not enjoyable to worry about the what-ifs. You need to ensure you have money saved for you when you need it most. An FDIC-insured HSA creates dedicate health savings for medical expenses.
At Lively, we offer an FDIC-insured interest-bearing HSA. This requires no minimum account balance or additional fees. It is a feature included in all of our HSA accounts. Let us show you why this might matter to you.
According to federal regulation, FDIC insurance covers a minimum of $250,000 per depositor. In more approachable terms that means you are covered up to $250,000 for each HSA account, you have open.
Having an FDIC-insured HSA adds more financial security to your health savings. It protects against any HSA company closures, mergers or financial concerns. An FDIC-insured HSA creates the extra protection you need so that you can find an HSA that has the features you need.
This DOES NOT include any HSA money you have moved out of your cash account and into an HSA investment account.
Interest Bearing HSA
An interest-bearing HSA account is the only guaranteed way to grow your HSA money. An interest-bearing HSA leverages the power of compound growth to work for you. You make money automatically. The more you save, the more you earn.
Note: interest rates vary based on tiers of daily balances and are paid on the entire balance. The interest rates and annual percentage yields (APY) may change at any time. Interest will be compounded monthly and credited into your account monthly.
An FDIC-insured interest-bearing HSA grows your money and keeps it safe with no effort on your end. Guaranteed growth is hard to find. Knowing the money you saved will be there for you in years to come will give you peace of mind for all things health-expense related.
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.