Invest the money you contribute your medical savings account
This page provides an overview of the different types of investment accounts that you can open using your voluntary employees beneficiary association account(VEBA) or health savings account (HSA).
Any investment comes with risk and may involve the loss of principal.
There are two types of investment accounts that are available to members.
Basic Investment Account (VEBA and HSA)
The Basic Investment Account is available to members who hold a VEBA account or an HSA. At least $1,000 must be kept in the base balance of the HSA account. Any money in the account over the $1000 mark can be invested.
You have the option to invest your money in a pre-selected suite of over 30 mutual funds. You choose which fund or funds to invest in. The funds are traded through the Schwab mutual fund platform.
See Opening and Managing a Basic Investment Account for more information.
Charles Schwab Self-Directed Brokerage Account (HSA only)
The Charles Schwab Self-directed Brokerage account is an online investment account through Charles Schwab & Company. With this account you are eligible to put your funds into investments available on the Charles Schwab platform. Eligible investments include stocks, bonds, mutual funds, ETFs, and a variety of other investments on the Schwab trading platform.
When your SelectAccount Health Savings Account reaches a minimum base balance of $11,000, you are eligible to move $10,000 to the Charles Schwab Self-directed Brokerage Account. $1,000 must remain in your SelectAccount Base Savings Account.
See Opening and Managing a Charles Schwab Self-Directed Investment Account for more information.