Our platform settings allow partner administrators to set an HSA investment threshold amount for all organizations. Let's discuss setting a threshold amount and what it means for organizations and their members.
Language Note
Individuals who are part of an organization are referred to as members. You may also know members as employees, participants, or consumers.
How to set the default investment threshold amount
Partner Administrator Feature
This feature is only available for partner administrators. It is not available for employer administrators. If you're an employer who wants to adjust your organization’s investment threshold, please contact your administrator.
Select Settings from the navigation menu.
Select the HSA Investments tab.
Under Investment Threshold, write in the preferred threshold amount.
Select Save Changes.
Review the confirmation modal and then select Update Investment Threshold.
How do investment threshold updates impact members who have not opened an HSA investment account on our platform?
To open an investing account, members must have enough funds in their health savings account to meet the investment threshold (minimum cash balance) requirement. Members can invest any HSA funds that exceed the threshold requirement.
Example 1
The investment threshold is $1,000. Mike has not yet opened an investment account. Mike’s current HSA balance is $1,500. Mike can create an investment account. After creating an investment account, Mike can invest $500.
Example 2
The investment threshold is $1,000. Erin has not yet opened an investment account. Erin’s current HSA balance is $800. Erin cannot create an investment account.
How do investment threshold updates impact members who have opened an HSA investment account on our platform?
Investment thresholds limit:
new investment accounts and
future investment purchases
If a member's HSA cash balance is below the investment threshold, their existing HSA investments will not be impacted. However, members cannot make new investment purchases if their cash balance is below the threshold.
How do investment thresholds impact investments sold?
When an investment is sold, funds are returned to the member's HSA cash balance. For this reason, a member may be unable to reinvest funds from an investment sold if their cash balance is below the threshold.
How are threshold updates applied?
Confirmed* updates will be applied platform-wide to new and existing organizations, excluding those with custom configurations.
*you must select Update Investment Threshold on the confirmation modal to apply updates
Do threshold updates impact custom organization settings?
No. Updates to the platform threshold settings will not impact custom thresholds for organizations.
How do I set or modify an organization’s custom threshold?
To set or modify an organization's unique threshold, visit its Organization Settings. To learn more, review "Set a custom investment threshold for an organization."
Are there investment fees for members?
Investment accounts with a balance below $5,000 are charged a monthly fee of $1.
Investment accounts with a balance of $5,000 or more are charged a monthly balance fee of .01%.
Drivewealth partnership
We partner with DriveWealth, a global fintech investment platform, to empower members to control their investments from the palm of their hands. DriveWealth’s modern infrastructure allows us to provide an easy and straightforward investment experience.