KIS HSA Investment Account FAQ
Add an investment component to your KeyBank HSA by opening a KIS HSA Investment Account. This account allows you to invest HSA funds in a variety of non-deposit investment options. Answers to some frequently asked questions about the KIS HSA Investment Account are included below.
The basics of KIS HSA Investment Accounts
When you are ready to open your KIS HSA Investment Account, you will be referred to a licensed KIS investment representative. 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.
There is no fee to establish a KIS HSA Investment Account, and standard KIS brokerage fees apply to transactions. Please refer to the applicable KIS fee schedule for further details.
Using your KIS HSA Investment Account
No. You are required to maintain the KeyBank HSA Checking Account with a balance of at least $3,500 in order to potentially 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 investment representative.
After your HSA account is established, you can work with your KIS investment representative or phone HSA Investment Client Services at 888-KIS2YOU, to conduct investment transactions.
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 investment representative when you are ready to invest.
Funds will be moved from your HSA Checking Account to your KIS HSA Investment Account to cover your investment purchases.
No. The balance available for checking and debit card activity is only the balance in the KeyBank HSA Checking account.
If you need more than the balance in your KeyBank HSA Checking Account to cover an expense, and you have funds invested in your KIS HSA Investment Account, you will need 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 checking account?
Your KIS investment representative can assist you with this transaction.
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 reimbursing yourself later, when the funds are available in your HSA Checking Account.