How do I know my money safe?
Every HSA has its own HSA Administrator, which is usually a bank, insurance company, or other approved trustee. You will have the opportunity to invest your HSA funds into the following options at your discretion:
- Money market funds
- Interest-bearing account
- Mutual Funds
As a general rule of thumb, if you are looking to minimize your investment risk, you may want to consider an interest-bearing account because these accounts are FDIC insured. However, although mutual funds are a riskier investment because they are not FDIC insured, they have the potential to provide a much greater return.
Health Savings Account (HSA) FAQs
- Can I roll over funds from other accounts into my HSA?
- How can I utilize my HSA funds?
- How do I begin this process?
- How do I know my money safe?
- How does an HSA help me save on taxes?
- How much can I contribute to my HSA?
- What are my extra costs if I choose an HSA?
- What are qualified medical expenses?
- What is a Health Savings Account (HSA)?
- What is an HSA-eligible insurance plan?
- Where can I invest my HSA funds?
- Why should I consider getting an HSA?