HSA Investment & Elections Guide
Using the InComm Benefits app, you can start investing in 3 easy steps:
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.
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.
How to set your future elections
Once your investment account is open, follow these steps:
- From the InComm Benefits 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.
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 InComm Benefits 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.
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InComm is a financial technology company, not an FDIC-insured bank. Banking services are provided by Coastal Community Bank, Member FDIC. The InComm Visa® Debit Card is issued by Coastal Community Bank pursuant to a license from Visa U.S.A. Inc. InComm spending accounts are FDIC insured up to $250,000 per depositor through Coastal Community Bank, Member FDIC. FDIC insurance only covers the failure of an FDIC-insured bank. FDIC insurance is available through pass-through insurance at Coastal Community Bank, Member FDIC, if certain conditions have been met.
Investment products are provided by Devenir Group, LLC. Investment products are not insured by Coastal Community Bank, the FDIC, or any Federal Government Agency, are not a deposit, and may lose value