*You must meet the minimum deductible for a qualifying high-deductible health plan.
Self-directed mutual fund investment options are made available through the services of an independent investment advisor, or your plan sponsor. Discretionary advisory services are provided by Betterment LLC, an SEC-registered investment adviser, with associated brokerage transactions provided by Betterment Securities, Member FINRA/SIPC. For details and disclosures visitbetterment.com. The Schwab Health Savings Brokerage Account is offered to certain account holders through Charles Schwab & Co., Inc., Member FINRA/SIPC. For details and disclosures, visitschwab.com. Brokerage services are offered to certain accountholders through TD Ameritrade, Inc., Member FDIC/SIPC and a subsidiary of The Charles Schwab Corporation. For details and disclosures, visittdameritrade.com.
Orders are accepted to effect transactions in securities only as an accommodation to HSA owners. Optum Financial and its subsidiaries are not broker-dealer or registered investment advisors and do not provide investment advice or research concerning securities, make recommendations concerning securities, or otherwise solicit securities transactions.
Health savings accounts (HSAs) are individual accounts offered through Optum Bank®, Member FDIC, or ConnectYourCare, LLC, an IRS-Designated Non-Bank Custodian of HSAs,each a subsidiary of Optum Financial, Inc. Neither Optum Financial, Inc. nor ConnectYourCare, LLC is a bank or an FDIC insured institution. HSAs are subject to eligibility requirements and restrictions on deposits and withdrawals to avoid IRS penalties. State taxes may apply. Fees may reduce earnings on account.
Flexible spending accounts (FSAs), dependent care assistance programs (DCAPs), health reimbursem*nt arrangements (HRAs), Commuter and Parking Benefits, Tuition Assistance Plans, Adoption Assistance Plans, Surrogacy Assistance Plans, Wellness Benefits, and Lifestyle Accounts (collectively, “Employer-Sponsored Plans”) are administered on behalf of your plan sponsor by Optum Financial, Inc. or ConnectYourCare, LLC (collectively, "Optum Financial") and are subject to eligibility and restrictions. Employer-Sponsored Plans are not individually owned and amounts available under the Employer-Sponsored Plan are not FDIC insured.
This communication is not intended as legal or tax advice. Federal and state laws and regulations are subject to change. Please contact a legal or tax professional for advice on eligibility, tax treatment, and restrictions. Please contact your plan administrator with questions about enrollment or plan restrictions.
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As a seasoned financial expert with a comprehensive understanding of investment vehicles, tax-advantaged accounts, and regulatory frameworks, I bring forth a wealth of knowledge to elucidate the intricate concepts embedded in the provided article.
The discourse centers around health savings accounts (HSAs), a crucial component of personal finance management. To qualify for a qualifying high-deductible health plan, individuals must meet the minimum deductible. This is a fundamental requirement for leveraging the benefits associated with HSAs.
Self-directed mutual fund investment options are presented as an avenue for HSA holders, facilitated by an independent investment advisor or the plan sponsor. Notably, Betterment LLC, an SEC-registered investment adviser, provides discretionary advisory services, complemented by brokerage transactions from Betterment Securities (Member FINRA/SIPC). A detailed exploration of terms and disclosures is encouraged at betterment.com.
The article introduces the Schwab Health Savings Brokerage Account, accessible to specific account holders through Charles Schwab & Co., Inc. (Member FINRA/SIPC). Interested parties are directed to scrutinize details and disclosures at schwab.com for a comprehensive understanding of the offering.
Moreover, brokerage services for certain account holders are extended through TD Ameritrade, Inc. (Member FDIC/SIPC), a subsidiary of The Charles Schwab Corporation. For specifics and disclosures, individuals are urged to visit tdameritrade.com.
The involvement of Optum Financial and its subsidiaries is evident in the administration of various employer-sponsored plans, including flexible spending accounts (FSAs), dependent care assistance programs (DCAPs), health reimbursem*nt arrangements (HRAs), and more. These are administered on behalf of plan sponsors and are not individually owned. Importantly, the amounts available under these plans are not FDIC insured.
It's imperative to acknowledge that HSAs, whether offered through Optum Bank® or ConnectYourCare, LLC (an IRS-Designated Non-Bank Custodian of HSAs), are subject to eligibility requirements and restrictions. State taxes may be applicable, and fees have the potential to impact earnings on the account. Optum Financial, Inc. and ConnectYourCare, LLC are emphasized as subsidiaries of Optum Financial, Inc., explicitly stating that they are not banks or FDIC insured institutions.
The communication concludes with a disclaimer, underscoring that it is not intended as legal or tax advice. Given the dynamic nature of federal and state laws and regulations, individuals are advised to seek professional advice for matters related to eligibility, tax treatment, and restrictions. Furthermore, plan administrators should be consulted for queries regarding enrollment or plan restrictions.
In summary, this comprehensive financial communication navigates through the intricacies of health savings accounts, investment options, and employer-sponsored plans, serving as an invaluable guide for individuals seeking a nuanced understanding of these critical aspects of personal finance.
