Key Investment Services HSA Investment Account

Get Answers to Your Questions About KIS HSA Investment Accounts

How do I open a KIS HSA Investment Account?

When you are ready to open your KIS HSA Investment Account, you will be referred to a licensed KIS Financial Advisor. You can also call 888-KIS2YOU to speak to an investment representative and apply to open your KIS HSA Investment Account. The investment representative can answer any questions you may have about your KIS HSA investment options and help you complete an application.

What fees are associated with adding an investment component to my KeyBank HSA through a KIS HSA Investment Account?

There is no fee to establish a KIS HSA Investment Account, and standard KIS brokerage fees apply to transactions.

Can I have just an investment account for my HSA?

No. You are required to maintain the KeyBank HSA with a balance of at least $3,500 in order to be eligible to open a KIS HSA investment account. Maintenance of the HSA checking account is necessary for funds access and government reporting.

Your KIS HSA Investment Account allows you to invest in a variety of asset allocation mutual funds providing a wide range of investment risk and reward opportunities. Further details can be explained by your KIS Financial Advisor.

How will I conduct transactions in my KIS HSA investment account?

After your HSA account is established, you can work with your KIS Financial Advisor or phone HSA investment client services at 888-KIS2YOU to make investment transactions.

How will I know how much money is available in my KeyBank HSA to be invested in a KIS HSA Investment Account?

After your KIS HSA investment account is opened and your initial transaction is completed, any amount exceeding $2,500 in your HSA checking account is available for additional investing. Please contact your KIS Financial Advisor when you are ready to invest.

How will I pay for my KIS HSA investment purchases?

Funds will be moved from your KeyBank HSA to your KIS HSA investment account to cover your investment purchases.

Will the money invested in my KIS HSA investment account be available for checking and debit card activity?

No. The only balance available for checking and debit card activity is in your KeyBank HSA.

What if I need more funds than I have available in my KeyBank HSA to cover a medical expense?

If you need more than the balance in your KeyBank HSA to cover an expense, and you have funds invested in your KIS HSA investment account, you will want to consider the following:

• What is the current market value of the individual investments in my KIS HSA investment account?
• Which investment should I sell? Will I experience any principal loss if I liquidate at this time? If so, am I comfortable with accepting that loss?
• If I sell the investment today, when will the funds be in my HSA?

Your KIS Financial Advisor will assist you with this transaction.

What if I need money before the proceeds from the sale of investments in my KIS HSA investment account have been moved to my KeyBank HSA?

You can pay for the medical expense by using any non-HSA funds available to you (i.e., personal checking account, credit card, line of credit, etc.) and reimburse yourself later, when the funds are available in your HSA.

What investments can I buy in my HSA investment account?

You are able to purchase any mutual fund of your choice from any of these fund families. KIS and its representatives do not make recommendations or provide advice with regard to investment selections in HSA investment accounts.