Health Savings Accounts (HSAs)
HSAs continue to grow in popularity and are emerging as an important tool to help Americans plan and pay for current and future medical expenses. Investors are realizing the triple tax-advantages and long-term investing potential of HSAs, and investing in them as part of their retirement savings strategy and overall portfolio plan. Schwab's Health Savings Brokerage Account (HSBA) makes it possible to expand investment choices within an HSA and allows advisors like you to manage HSA savings as part of your client's complete financial picture.
Schwab's Health Savings Brokerage Account
HSBA is an investment feature offered through industry-leading HSA providers, allowing access to a broad range of investment choices, and providing the ability to leverage the investment management services of an advisor.
HSBAs work like other Schwab accounts. They are accessible to advisors through Schwab Advisor Center®, and to investors through Schwab Alliance or Schwab.com. Data downloads are available through Schwab Data Delivery® and can be incorporated in Schwab OpenView Gateway® and integrated with third-party software. Additionally, advisors can leverage the standard custodial billing process for management fees through Schwab Advisor Center.
Like individual retirement accounts, HSAs are individually owned and portable, so even if an investor is not currently with an HSA provider offering access to Schwab's HSBA, they can open an HSA and transfer their existing savings to a provider who does. And as long as they remain covered by a high-deductible health plan, investors may continue making contributions to their HSA to further realize the benefits of investing their savings in an HSBA.1
To learn more, visit the Introduction to Schwab Health Savings Brokerage Accounts (HSBAs) section of the Service Guide.
1. Eligibility for an HSA requires coverage by an HSA-eligible high-deductible health plan and does now allow coverage by another ineligible health plan or enrollment in Medicare. See IRS Publication 969 for the most current information defining HSA eligibility, contribution limits, and more about HSA-eligible health plans.
Schwab Health Savings Brokerage Account (HSBA) is offered through Charles Schwab & Co., Inc. ("Schwab"), Member SIPC, a registered broker-dealer offering investment services and products. Trust, custody, and deposit products and services are available through Charles Schwab Trust Bank ("Schwab Trust Bank"), Member FDIC. Schwab and Schwab Trust Bank are separate but affiliated companies and wholly-owned subsidiaries of the Charles Schwab Corporation.
Please consult with your legal counsel and tax advisor about your particular circumstances. Third party HSA providers are not owned by, affiliated with, or supervised by Schwab or Schwab Trust Bank nor is Charles Schwab or any of its affiliates responsible for the services provided by these HSA providers. Please consult with your legal counsel and tax advisor about your particular circumstances. Third party HSA providers are not owned by, affiliated with, or supervised by Schwab or its affiliates nor is Schwab or its affiliates responsible for the services provided by these HSA providers.
The Charles Schwab Corporation provides services to retirement and other benefit plans and participants through its separate but affiliated companies and subsidiaries: Charles Schwab Trust Bank, Member FDIC, and Charles Schwab & Co., Inc., Member SIPC; Schwab Retirement Plan Services, Inc. Trust, custody, and deposit products and services are offered by Charles Schwab Trust Bank. Brokerage products and services are offered by Charles Schwab & Co., Inc. Schwab Retirement Plan Services, Inc. provides recordkeeping and related services with respect to retirement plans.