Maximizing Your Health Savings Account Investment Potential

Investing through an HSA can be a smart way to save for future medical expenses while also potentially growing your money through investments. Think of your HSA as a home for your medical money. Just like a brokerage account or an IRA, you'll need to put money into your HSA before you can start investing it.

Here are tips for how to invest your HSA and some other things you should know about these increasingly popular savings vehicles. With the increasing contribution limits set for 2025, it's important to plan ahead and take advantage of the tax benefits that HSAs offer.

Morningstar's annual report on HSAs indicates that the industry has room for improvement despite reducing fees over the years. After reaching a record $123 billion in assets, the report highlights positive aspects of HSAs and offers recommendations to help investors navigate the space effectively.

In a recent report, Morningstar evaluates the top providers of health savings accounts, which can also be used as spending accounts to cover medical expenses. Total Fidelity HSA assets have seen a significant increase, making Fidelity one of the largest HSA providers in the country.

HQY, a leading provider of health savings accounts, has reported strong quarterly results and solid top-line growth. This has raised optimism about the stock and its potential for continued success in the market.