Integrated Investing to empower HSA growth
One of our key initiatives after I joined First Dollar was integrating HSA investing into our product. We partnered with DriveWealth and Morningstar to make this possible.
Bringing HSA investing in-house gave us greater control to tailor the offering and expand investment options over time, empowering members to grow their Health Savings Account.
The visual below shows our previous HSA investing flow versus the new integrated approach. Before, members had to leave our platform, log in separately to TD Ameritrade, and execute trades - a process requiring manual fund transfers.
To streamline the experience, we've integrated brokerage investing within our app. This unified flow lets members manage all HSA activities, from healthcare spending to investment portfolio selection and trading, in a single experience.
We've also expanded our investing options to include both self-directed brokerage and managed portfolios. This provides flexibility, with all options accessible through our platform. By simplifying access and increasing choices, we empower members to maximize their healthcare savings growth.
Consumers view their health savings account (HSA) as a unified experience, rather than separate activities for paying for healthcare and investing HSA funds. Requiring users to log into another platform to access HSA investing or use additional benefits can create confusing barriers and missed opportunities. To address this, we've partnered with DriveWealth, to deliver a seamless investing experience integrated directly into our app.
Complexity is a key challenge, as many consumers lack the knowledge and confidence to maximize their HSA funds or fully utilize their healthcare benefits. Overly complicated user experiences that obscure core actions and basic information can add to this frustration.
"It's very easy to navigate firstdollar, you can make investments easily, you can uploads receipts and pictures easily. I've used other HSAs and this one is a BREEZE!"
"The process to use is super easy. I love the fact that you can invest unused funds for more income."
• Auto sweeps & Recurring Investments
• Enhanced discoverability
• Support fo Limit orders
• Continue Robo Investing ux