Investment Custodians

How do I invest my HSA in stocks, bonds and mutual funds?

If you are in “HSA Saver” mode, and plan to grow your Health Savings Account balance for future years; you may want to consider investing your money in other investments besides a money market checking account. The HSA investment custodians on this page allow for stock, bond and mutual fund trading inside your HSA account. With a few exceptions, any investment that is allowed in an IRA, is eligible for an HSA.

I would highly advise that you select a custodian that focuses on HSA plans.  It’s a specialty market, and you will want access to their HSA knowledge representatives to enjoy your HSA experience.

Key attributes to look for in a HSA investment custodian would be:

  1. Range of investment choices?
  2. Online trading costs?
  3. Monthly account fees?
  4. SIPC / FDIC insured?
  5. Customer service level

TIP: Even though costs are typically higher for these types of investment accounts, the growth of your investments should eliminate the difference in fees over the long run.

TIP: It is typically recommended that you keep at least the amount of your deductible in a secure HSA money market account, with any amounts above the deductible available for additional risk taking. For this reason, many custodians require minimum balances before stock investing is available.
WARNING: If you want to open a investment trading account, most banks do require a money market account to be ALSO open. Typically, both accounts will have monthly fees.
WARNING: Investing in stocks, bonds and mutual funds come with risk, and you could lose your principal.


HSA Bank
HSA Bank – HSA Bank is a Milwaukee-based company and one of the nation’s leading Health Savings Account (HSA) administrators. We serve more than 300,000 accountholders with nearly a billion dollars in HSA assets. We focus solely on the administration, service and support of our HSA product. Our philosophy is to do what we do best and partner with others who do the same to provide a best-of-breed solution.

The Bancorp Bank – one of the top financial institutions administering HSAs and a leading HSA custodian, is an FDIC-insured online commercial bank that delivers a full array of financial services and products directly and through affinity partner programs nationwide. As the industry leader in private-label banking, we employ a partnership approach with benefit administrators, consultants and advisors, insurance carriers, TPAs and employers.

Blackhawk Bancorp, Inc. – is the bank holding company for Blackhawk Bank. Blackhawk is dedicated to market differentiation as another key element of its success, with Health Savings Accounts proven to be valuable to the company’s growth and vision. Blackhawk’s directors, management team and associates are committed to being a top performing organization for the benefit of shareholders, bank clients, and the communities Blackhawk Bank serves.

Sterling HSA – Welcome to Sterling Health Services Administration! We’re a leading administrator of health savings accounts, health reimbursement arrangements, flexible benefit plans, COBRA and other consumer directed healthcare services that put our clients in control of healthcare spending and in touch with resources to manage their money and their health. We provide expert education and superior execution because we know the health insurance and banking industries. We provide high touch customer service online, on the phone and in person because we understand that you deserve it and want nothing less for yourself, your family and your employees.

Health Savings Administrators
Health Savings Administrators – Health Savings Administrators was formed in 1997 to offer Vanguard no-load mutual funds to Health Savings Account (HSA) holders nationwide, thus allowing our customers to avoid the high cost of commissions on investment choices. For new HSA accounts, we offer an attractive alternative to your insurance company’s checking account. For existing accounts, you don’t have to change your insurance company to select our program. Simply download our Health Savings Account Transfer Form and send it to us. We will process your request and forward it to your existing custodian.

Equity Trust Company – Equity Trust Company is a highly regulated financial institution offering Health Savings Accounts. In addition to traditional retirement investments such as stocks and mutual funds, clients at Equity Trust can diversify their retirement plans into assets such as real estate, private placements, notes, deeds of trust, tax liens, foreign currency and much more.



HSA Bank









Health Savings Administrators