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HSA Investment & Elections Guide

Get started investing your HSA dollars today! Investing your HSA dollars is a smart way to incorporate tax-free investments into your financial plan. Using the Zenda app, you’ll have access to a broad range of investment options, plus powerful tools and resources to help you meet your HSA investment objectives.

Using the Zenda app, you can start investing in 3 easy steps:

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Open an investment account
Opening the account will take 1-2 business days. While you wait, we suggest you review the available investment options and decide on the investments that best meet your financial goals.

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Make your investment elections & set future elections
Prior to moving money into your investment account, you should set the percentage allocation for each of your chosen investment options. This will ensure money transferred from your HSA Spending Account to your HSA Investment Account is allocated properly from the start. See our Investment Elections Guide below for more information.
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Transfer money to your HSA investment account
You can transfer the entire HSA Spending balance or start with as little as $5. Just remember that once the money has been transferred to your investment account, it’s no longer available for card transactions or reimbursements.

Why invest your HSA dollars?

Investing your HSA dollars is a great way to save for long-term or unexpected healthcare expenses. HSA contributions are made on a pre-tax basis through payroll deductions, HSA interest, and investment earnings are not taxed, and HSA withdrawals (aka distributions) are income tax-free for qualified medical expenses. This triple tax advantage makes HSAs an attractive savings and investment option. See our investing FAQs to learn more about HSA investing.

Future Investment Elections

Setting your future investment elections is an important first step for allocating funds to the HSA Investment account. Transferring money prior to setting your future elections will result in your money being deposited into a money market account (Schwab Government Money Inv – SNVXX). Watch a short video to learn more about setting your future investment elections.

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How to set your future elections

Once your investment account is open, follow these steps:

  • From the Zenda mobile app, navigate to Investments.
  • Tap on the Set investment options section and tap SET FUTURE ELECTIONS.
  • Make your investment selections by sliding the indicator to the percentage you want to be invested in that mutual fund.
  • Once your elections add up to 100%, tap on Submit.
  • Your investment elections are now set. The money transferred into your Investment account will be allocated based on your selections.

Note: Prior to selecting your investment selections, we recommend you review the investment options available to you (above). You may wish to seek the advice of a personal financial advisor.

HSA Guided Portfolio

If you need help determining which investment options are right for you, you can use our HSA Guided Portfolio to obtain a personalized mix of investment suggestions based on your specific financial goals.

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Funding your investments

You can transfer money into your investment account once you’ve made your future investment selections. You can transfer as little as $5 or your entire HSA spending balance.

From Investments in the Zenda mobile app:

  • Tap transfer to investments
  • Enter the amount you wish to transfer and tap transfer funds
  • Money will be taken from your HSA spending balance immediately and will appear in your investment account balance in 1-2 business days.

Get the App or Login

Download on the App Store
Download on the App Store

*Banking services are provided by Coastal Community Bank, Member FDIC.  The Zenda card is issued by Coastal Community Bank pursuant to a license from Visa U.S.A. Inc.  Zenda spending accounts are FDIC insured up to $250,000 per depositor through Coastal Community Bank, Member FDIC.  Privacy notice for Coastal Community Bank can be found here.

Investment accounts are not bank guaranteed and not FDIC insured and may lose value.