HealthSavings Administrators has introduced InvestorSelect HSA, a health savings account fund menu program aimed at retirement advisors.
Advisors who use the program can give clients with HSAs access to about 400 HSA investment fund choices.
Clients can invest in as many of the funds as they want, and they can start investing HSA assets in the investment funds without meeting a minimum balance requirement, according to HealthSavings Administrators.
(Related: The Surprise Tax Hit for Post-Medicare HSA Contributions)
Advisors can choose whether to get revenue from the program or to offer it as a “value-added” extra along with other services.