--- title: This Underutilized HSA Perk Can Supercharge Your Savings description: Your HSA contributions can be invested in mutual funds, brokerage accounts or certificates of deposit to supercharge your earnings. authors: - name: Adam Hardy role: Lead Data Reporter url: https://money.com/author/adam-hardy/ bio: Adam Hardy is a lead data journalist at Money, where he frequently reports on financial barriers that affect low-income Americans. Adam’s work has also appeared in Business Insider, Forbes, Nasdaq, The Penny Hoarder, Yahoo! Finance and more than a dozen local and regional newspapers. education: University of South Florida, BA, Magazine Journalism at_money_since: 2021 articles: 499 covers: - Personal Finance - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Pets - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - The Penny Hoarder - Forbes Advisor - Creative Loafing - The New York Times - The Washington Post - Bloomberg - Harvard Law School - The Federal Register - National Consumer Law Center - CBS News - Becker's Hospital Review - Business Insider - Mother Jones - The Week - Fortune - The Philadelphia Inquirer - National Association of Student Financial Aid Administrators (NAFSAA) - Education Advisory Board (EAB) - The Institute for College Access & Success (TICAS) - This Morning with Gordon Deal - Empower - Reddit social: - https://www.x.com/hardyjournalism - https://www.linkedin.com/in/hardyjournalism/ editors: - name: Julia Glum role: Managing Editor url: https://money.com/author/julia-glum/ bio: Julia Glum joined Money in 2018 and specializes in covering financial trends that affect everyday Americans' wallets. She also writes Dollar Scholar, a weekly newsletter that teaches young adults how to navigate the messy world of money. education: University of Florida at_money_since: 2018 articles: 453 covers: - Personal Finance - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - Newsweek - International Business Times - CBS News - Good Morning America - WUSA9 - Pix 11 - The New York Times - Mashable - The Washington Post - CNBC - Politico social: - https://x.com/superjulia - https://www.linkedin.com/in/julia-glum published: '2023-11-17T13:06:52.000Z' modified: '2024-01-10T15:12:08.000Z' section: Personal Finance tags: - News word_count: 451 canonical: https://money.com/invest-hsa-contributions/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Photo-illustration of Health Savings Account cards on a graph](https://img.money.com/2023/11/News-HSA-Investing-Contributions.jpg) If you have a [health savings account (HSA)](https://money.com/best-health-savings-account-hsa-providers/), chances are you're missing out on its full potential. The vast majority of Americans with HSAs aren’t investing their contributions, according to recent research — and are thereby leaving a sizable amount of money on the table. About 36 million Americans have HSAs, which are tax-advantaged accounts available to those enrolled in high-deductible health plans. The funds must be used on certain medical or dental expenses including deductibles, copays, over-the-counter drugs and menstrual products. HSAs have a slew of tax benefits: Contributions are tax deductible, qualifying withdrawals aren’t taxed and neither are any earnings on the savings. (If you have an HSA, you probably already heard this much in the pitch from your HR department.) However, there’s another largely underutilized HSA perk. In most cases, your contributions can be invested in [mutual funds](https://money.com/what-are-mutual-funds/), [brokerage accounts](https://money.com/best-online-stock-trading/) or [certificates of deposit](https://money.com/best-cd-rates/) to supercharge your earnings. Of all HSAs nationwide, only 7.5% of accounts have any portion of their contributions invested, according to the [latest data](https://www.devenir.com/wp-content/uploads/2023-Midyear-Devenir-HSA-Research-Report-Executive-Summary.pdf) from the HSA consulting firm Devenir. Part of the reason why that figure is so low, a [separate survey](https://www.psca.org/sites/psca.org/files/Research/2023/2023_HSA%20Survey_FINAL.pdf) indicates, is that not all HSA providers allow you to invest your savings. While consumer-facing HSAs at banks and investment firms are starting to catch on, the majority of HSAs are offered through the workplace as an employee benefit, and only 61% of employers offer HSAs with investment options, according to the trade group Plan Sponsor Council of America (PSCA). Even so, the folks who are enrolled in HSAs with investment options largely do not take advantage of the opportunity. PSCA’s survey found that only 19% utilized their HSA’s investment option. And *that* is likely due to people not fully understanding their HSA benefits. And who could blame them? The accounts are quite complex. For instance, they have strict qualifications, [contribution caps](https://money.com/hsa-contribution-limit-2024/) (in 2024: $4,150 for individuals and $8,300 for families) and withdrawal limitations. Whatever the cause, the consequences of not investing HSA contributions are steep. Denevir’s data shows that the average account balance for people who invested their contributions in 2023 is $18,362 — a whopping 7.3 times the size of the non-invested account. Especially through employer plans, you may need a minimum balance (often $1,000) in your account to start investing. Different plans offer different investments, so check in with either your HR department or your HSA provider to learn about which options are available to you. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/invest-hsa-contributions/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Personal Finance", "item": "https://money.com/personal-finance/" }, { "@type": "ListItem", "position": 3, "name": "This Underutilized HSA Perk Can Supercharge Your Savings" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/invest-hsa-contributions/#webpage", "url": "https://money.com/invest-hsa-contributions/", "name": "This Underutilized HSA Perk Can Supercharge Your Savings", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2023-11-17T13:06:52.000Z", "mainEntity": { "@id": "https://money.com/invest-hsa-contributions/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/invest-hsa-contributions/#breadcrumb" }, "dateModified": "2024-01-10T15:12:08.000Z" }, { "@type": "NewsArticle", "headline": "This Underutilized HSA Perk Can Supercharge Your Savings", "articleSection": "Personal Finance", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2023/11/News-HSA-Investing-Contributions.jpg", "width": 2880, "height": 1920, "caption": "News-HSA-Investing-Contributions" } ], "author": [ { "@type": "Person", "name": "Adam Hardy", "url": "https://money.com/author/adam-hardy/", "@id": "https://money.com/author/adam-hardy/#author", "description": "Adam Hardy is a lead data journalist at Money, where he frequently reports on financial barriers that affect low-income Americans. 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