HSA Investment Fees Decoded
Health Savings Accounts (HSAs) can be a great way to save for healthcare costs in retirement but excessive and often hidden fees that are prevalent in many investment solutions can lead to a smaller nest egg than you had originally planned. Our investment solution charges a fully disclosed monthly fee for maintaining an investment account in order to safely and accurately maintain your retirement dollars. To ensure you understand exactly what it is you’re paying for, it’s important that you have 100% transparency into our fee structure.
Let’s break down exactly what services our fees cover:
Investment Account Fee
This fee is charged to all users, regardless of whether they sign up for the Managed, Self-Directed or Brokerage account type, and it covers the following:
- Maintaining the trading platform used to buy and sell the available investment options
- Executing trades (buys and sells) through a registered broker dealer
- All recordkeeping associated with transferring money between investment and HSA cash accounts
- All recordkeeping and accounting related to purchased investments
- Account statements and trade confirmations
- Connection to a Registered Investment Advisor (RIA) service to source fund lineups, available instruments and to monitor all available investment options to ensure the highest quality options are available to all HSA investors
For the Managed account type only, this fee also covers
- RIA automatically allocates funds on behalf of the participant
- RIA periodically rebalances investments in accordance with the participant’s risk tolerance
- RIA monitors and tracks assets and fund lineup
The full WealthCare Saver HSA investments experience fee schedule can be found within the investments experience on the Documents page.
The balance in your HSA Investment Account is subject to investment risks, including fluctuations in value and the possible loss of the principal amount invested. Investing through the WealthCare Saver investment platform is subject to the terms and conditions of the Health Savings Account Custodial Agreement and any applicable investment supplement(s). For information regarding underlying investment expenses, earnings, and distributions, see the applicable investment prospectus and other publicly available information.
WealthCare Saver, a dba of Alegeus Technologies, LLC, is a licensed Non-Bank Custodian of HSA cash accounts.
CapFinancial Partners, LLC (“CAPTRUST”) is an investment adviser registered under the Investment Advisers Act of 1940. CAPTRUST acts as investment advisor with respect to the investments available in your HSA. In addition, you may choose to have CAPTRUST manage your HSA account on a discretionary basis.
DriveWealth, LLC, a registered broker dealer and member of FINRA and SIPC. SOC 2 Type 2, GDPR, CCPA compliant. Registered in all 50 U.S. states.