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 trading or regulatory fees assessed on transactions. These fees are not charged by Benepass.
Can employees trade individual stocks?
No. The Benepass Health Savings Account (HSA) investing experience is portfolio-based. Employees allocate percentages across a curated set of investment options, which always includes cash.
Self-directed trading of individual stocks 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.