What minimums apply to investing?
Employees must have at least $125 available to begin investing.
Employees can invest in increments of $25 or greater, and HSA accounts must always maintain at least $100 in cash after a deposit is made into the investment account.
What fees apply to investing?
However, employee investments are still subject to standard investment-related fees, such as fund expense ratios and transaction or regulatory fees assessed on transactions. These fees are not charged by Benepass.
What investment options can we offer employees?
Employers choose from three investment configurations:
Option 1 — Core Fund Lineup: A pre-approved set of 15 ETFs available out of the box.
Option 2 — Customized Fund Lineup: A custom lineup built with Benepass, approved by our RIA.
Option 3 — Self-Directed Portfolio: Users can select from a broad menu of securities traded in the NYSE, NASDAQ, and ARCA. There are currently 5,000+ available securities, so this is a great option for sophisticated investors who want to assemble their own lineup.
Options 1 and 2 are recommended for clients with trading restrictions or novice investor populations.
Can employees trade individual stocks?
No. By default, employees allocate percentages across a curated set of funds in their self-directed portfolio — individual stock selection is not available. Employers who want to offer broader investment flexibility can enable the Self-Directed Portfolio option (Option 3), which allows members to choose from ~10,000 securities on NYSE, NASDAQ, or ARCA. Contact your Benepass account manager to discuss whether this option is right for your organization.
Self-directed selection of individual stocks outside the approved lineup is not supported.
What advisory services are offered?
Benepass does not provide investment advisory services. Advisory options may be offered in the future.
Is auto-investing available?
Not at this time. Employees must move funds into and out of their investment account and update allocations manually.
What happens if an employee leaves their employer?
If an employee leaves their employer, they retain access to their Health Savings Account (HSA) and investment account. If they did not open an investment account while employed, they are still able to do so at any time.