Lively offers two ways to set up your Schwab Health Brokerage Savings Account (HSBA) in order to align with your investment strategy:
- Invest with no minimum restrictions after a $24 annual fee from Lively
- Invest anything above $3,000 above your cash account for no additional fee from Lively.
(Additional investment fees from Charles Schwab may apply.)
This flexibility allows you to set up your account to better align with your investment strategy and goals. You can change how your account is set up at any time.
Changing to no access fee:
- If you have already paid the annual access fee, you can continue investing with no minimum until the current fee expires. Once it expires, you will be able to invest anything in excess of $3,000 in your cash account.
- If you have not yet paid the annual access fee, your HSBA will be updated immediately. You will be able to transfer any amount in excess of $3,000 in your cash account.
- Be sure to update any one-time or recurring transfers to your HSBA that you may have scheduled; any transfer that brings your cash balance below $3,000 will not be processed.
Changing to annual access fee:
- If you are switching to the annual access fee for the first time and have already funded your investment account, the $24 will be deducted from your HSA cash balance and your HSBA will be updated immediately.
- If you are switching to the annual access fee for the first time and have not yet funded your HSBA, the $24 will be deducted from your next transfer of funds into the HSBA.
- If you are switching to the annual access fee and already have an active access fee, your HSBA will be updated immediately.
Be sure to consult with a financial planning and/or tax professional as needed to understand your options.Updated: